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.

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