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As law firms and corporate legal departments alike look for ways to drive practical growth through technology, contract management platforms have seen a surge in popularity in 2018. And now, with the legal industry’s eyes on handling contracts in a more efficient manner, venture capitalists have begun to take notice as well.

On Tuesday, contract management platform provider Concord announced that the company has raised $25 million in its Series B funding round. The round is led by a new investor to the company, Tenaya Capital, and also includes previous investors CRV and Alven. As part of the deal, Tenaya Capital partner Paul Drews will join the Concord board.

With the additional funding, Concord said it will focus on accelerating development of its core platform, increasing head count across its engineering, sales, HR and marketing teams, and advancing international expansion.

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Zach Warren

Zach Warren is the editor-in-chief of Legaltech News. Based out of Minneapolis, Minnesota, Zach has been with LTN since 2015. He can be reached at [email protected]

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