Contractify

Contractify offers a cloud-based contract management solution tailored for legal, finance, and purchasing professionals within medium-sized companies. The company was established in Belgium in 2015 by co-founders Steven Debrauwere and Herlinde De Buck. Initially, they operated as consultants, advising organizations on optimizing their contract management processes. This hands-on experience revealed a market need for a dedicated tool, leading them to develop their own software platform, which officially launched in 2018.

The firm's business model is subscription-based (SaaS), granting clients access to a centralized and automated platform. Its core function is to streamline the entire contract lifecycle, from creation to signing and subsequent monitoring. The platform provides a secure digital repository for all contracts, making them accessible from anywhere. Key features include automated reminders for important dates to prevent unwanted renewals, customizable workflows for approvals and electronic signatures, and tools for collaboration. A significant addition came in 2022 with the launch of "Ada," an AI-powered assistant designed to accelerate the process of registering and analyzing contract data. The company also partners with other legal tech firms, such as ClauseBase, to offer integrated solutions that cover contract creation within the same workflow.

The company's journey includes several key milestones. After an accelerator program in 2019, Contractify secured approximately $1.5 million (€1.3 million) in a seed funding round in October 2020 from investors including Pitchdrive and several angel investors. This capital was aimed at boosting growth, international expansion, and further platform automation. The company expanded its physical presence by opening an office in the Netherlands in 2022. A major development occurred in June 2024, when Contractify was acquired by AXI Group, a provider of software and IT solutions. This acquisition, alongside its affiliation with Anchr House of Companies, is positioned to enhance Contractify's market reach across Europe and expand its legal tech capabilities.

Keywords: contract management, legal tech, SaaS, contract lifecycle management, AI contract analysis, document management, e-signature, compliance management, vendor management, procurement software, financial services software, automated reminders, cloud software, B2B software, contract repository, contract automation, risk mitigation, Steven Debrauwere, Herlinde De Buck, AXI Group