DocJuris, an AI-driven contract review leader, has announced the successful completion of its Series A funding round, securing $8 million in new capital. Led by Silverton Partners, the most active venture capital firm in Texas, the round also saw participation from previous investors, including Watertower Ventures, Surface Ventures, and Seed Round Capital. This brings the company’s total funding to $11.2 million.
DocJuris provides AI-powered tools to streamline contract negotiation processes, helping enterprise legal, procurement, and sales teams automate review, redlining, and negotiation tasks. In a recent survey of over 700 in-house attorneys and contract administrators, DocJuris found that 74% of companies still review contracts manually, leading to significant errors and wasted time across various departments.
Several Fortune 500 companies, such as Siemens, Dell, FedEx, Toyota, and Duke Energy, use DocJuris to speed up contract management tasks. The platform allows them to review third-party contracts in seconds, edit clauses with playbook-compliant changes, and generate documents with ease through its cloud-based application.
“DocJuris AI empowers teams to close deals faster while minimizing risk,” said Henal Patel, CEO and Founder of DocJuris. “With this funding, we’ll continue enhancing our platform with generative AI, expand our customer success team, and grow our user base.”
In 2023, the Association of Corporate Counsel awarded DocJuris the Value Champion Award for reducing contract cycle times, an achievement recognized in collaboration with Flex, a Global Fortune 500 company.
Iringo Csifo-Nagy, Lead Attorney for Flex’s Global Procurement and Supply Chain, noted, “DocJuris helped us cut down the turnaround time for complex supply chain agreements from eight days to minutes, freeing up our team to focus on more strategic tasks.”
This funding round enables DocJuris to further develop its AI capabilities and continue transforming the contract management process for enterprises worldwide.
