ThoughtRiver, a Cambridge, UK-based provider of an automated contract review and pre-screening platform, raised $10M (£7.5M) in Series A funding. The round was led by Octopus Ventures supported by existing seed investors Crane, Local Globe, Entrée Capital, Syndicate Room, and angel investor Duncan Painter.
ThoughtRiver CEO Tim Pullan, named by the Financial Times as one of the world’s top 10 legal technologists in 2019, commented: “To receive this investment in the current climate is testament to the relevance of ThoughtRiver’s technology, when across the globe, businesses are looking to do more with less. More efficient commerce is driven by faster contract review, and the pressure to optimise legal operations has never been greater. We look forward to using this investment to get our technology out to lawyers across all organisations, helping them accelerate business deals and at a broader level, facilitate economic growth.”
ThoughtRiver already has offices in New York, Singapore, London, Cambridge and Auckland, and will now focus even harder on growing US market share, scaling its sales and marketing efforts, and rolling out further integrations with major technology partners.