Exari Systems

Founded in 1999 by Justin Lipton, Exari Systems established itself as a key player in the Contract Lifecycle Management (CLM) sector. The company was developed to provide cloud-based CLM solutions that enable professionals in legal, sales, insurance, investment banking, and government to manage contracts more effectively.

Exari's business model revolved around providing a comprehensive, enterprise-grade software-as-a-service (SaaS) platform. This platform addressed the entire contract lifecycle, from automated document creation and workflow management to secure storage, advanced analytics, and compliance reporting. Key features included a centralized repository, AI-powered data extraction to transform documents into actionable data, and robust integration capabilities with other business systems like Salesforce and DocuSign. The company's technology was designed to give organizations enhanced visibility into their contract portfolios, thereby reducing costs, shortening cycle times, and minimizing risk. Revenue was generated through software subscriptions, serving a broad client base that included major global enterprises.

A significant milestone in Exari's history was its acquisition by Coupa Software. In April 2019, Coupa announced its intent to acquire Exari, a deal that was finalized in May 2019 for $215 million. This strategic acquisition integrated Exari's advanced CLM functionalities into Coupa's Business Spend Management (BSM) platform. The goal was to combine Exari's ability to manage complex contract creation and collaboration with Coupa's extensive transactional spend data, offering clients a more holistic solution to control spending and reduce risk.

Keywords: Contract Lifecycle Management, document automation, enterprise software, contract analytics, legal tech, risk management, compliance solutions, spend management, SaaS, data extraction