NEW YORK, Sept. 26, 2019 /PRNewswire/ -- Ironclad, the digital contracting platform loved by modern legal teams, today announced the opening of a new office in New York City's Soho area to better serve the next-generation of finance, media and retail brands who face evolving business and contracting challenges.
Across diverse industries like finance, HR, consumer goods and media, the pain of cumbersome contract processes is similar. Whether it's keeping track of NDA requests, scaling influencer agreements or speeding up sales contracts, manual contracting prevents legal teams from becoming drivers of business growth. According to Harvard Business Review, 81% of in-house legal expect their demands to grow, especially in the areas of contracts, compliance and M&A.
New York City is a hub for innovation that is seeing expansion from a growing list of companies - and Ironclad customers - that are modernizing traditional industries including Namely for HR, Away for direct-to-consumer retail, and Brex for finance, among others. To enable hyper-growth within these once-traditional industries, today's legal teams need to work strategically, automating away contract paperwork.
"Ironclad has reduced our workload by 85%. We deal with hundreds of routine sales contracts each quarter, and Ironclad has automated all of them. That allows our team to instead focus on closing and negotiating non-standard contracts," said Cecile Quesada, Contract Operations Advisor at Namely, which is headquartered in New York. "As a fast-growing business, we want our sales reps to be the quarterbacks of their own deals. That wasn't possible until we began using Ironclad."
The New York expansion marks Ironclad's second office, which comes on the heels of its recent Series C financing news. Its San Francisco headquarters encompasses 18,000 square feet across two offices in the SOMA district. Ironclad currently has 125 employees in the Bay Area and will double employee count in NYC in the months to come. Over the past year, Ironclad has experienced impressive growth, including a 300% increase in revenue and a 2.5x expansion in its customer roster.
"A major shift is taking place in legal," said Jason Boehmig, co-founder and CEO of Ironclad. "The role of the General Counsel is no longer limited to oversight of outside firms or managing admin tasks. Instead, GCs are becoming key drivers of strategic decisions. Automating contracts is mission-critical for these companies, and we are excited to meet the growing demand from the NYC market."
Ironclad is the leading digital contracting platform for legal teams. By streamlining contract workflows, from creation and approvals to compliance and insights, Ironclad frees legal to be the strategic advisors they're meant to be. Ironclad is used by modern General Counsels and their teams at companies like Dropbox, AppDynamics and Fitbit to unlock the power of their contracts data. Ironclad was named one of the 20 Rising Stars as part of the Forbes 2019 Cloud 100 list, the definitive list of the top 100 private cloud companies in the world. The company is backed by investors like Accel, Sequoia, Y Combinator and Emergence Capital.
To learn more, please visit us at https://www.ironcladapp.com
SOURCE Ironclad Inc.