Summize has posted its fifth straight year of 100 per cent annual recurring revenue growth, with the Manchester-based LegalTech seeing surging demand for its AI-powered contract lifecycle management (CLM) solution.
In its recent results, the company reported a 215 per cent increase in US ARR and expanded its global headcount by 49 per cent, marking a record period of international expansion and product evolution.
“Everyone at Summize is here to help change the way businesses handle contracts and other regulatory documents,” said CEO and co-founder Tom Dunlop, who recently spoke at BusinessCloud’s GM Rising Stars of Business launch event.
“The market is tired of overcomplicated, underused CLM systems, and our growth shows just how ready legal teams are for something simpler and smarter. AI has brought speed and agility to the legal function, but when the whole business can easily engage with contract processes, that’s where the magic really happens.
“With Summize, customers can scale their use cases over time and achieve clarity quickly without waiting months for a ‘ta da’ moment. It’s this pragmatic, sprint-based approach that achieves high adoption and makes the rollout of CLM a true success across the whole company.”
Summize’s AI-first platform integrates into widely used tools like Microsoft Word, Outlook, Teams, Slack, Salesforce and HubSpot, allowing legal and business teams to manage contracts within the tools they already use.
Global enterprises are increasingly using the company’s solution to overhaul legacy systems and embrace intelligent, scalable contract solutions.
Over the past year, new customers include Regnology, AMC Networks, SHL Medical, Clearscore, Sigma and Checkatrade, as well as eight professional sports teams from the NFL, NBA, and MLS.
The business has also won esteemed recognition, including being awarded the Judges’ Innovation Award at the GP Bullhound Northern Tech Awards, ranking 55th in the Sifted 100 for the UK & Ireland and ranking 8th in Deloitte’s UK Technology Fast 50.
Isabelle Melody, general counsel at Calvary Robotics, added: “We’ve been using Summize as our CLM solution, and the experience has been exceptional from the start. Within days, our team was up and running with minimal disruption.
“This is a huge advantage for any organization looking to streamline contract management without a steep learning curve. A highlight of the platform is its AI review feature: it’s accurate, intuitive, and saves us countless hours during contract analysis.
“It’s like having an extra pair of expert legal eyes on every document, which has significantly increased both speed and confidence in our review processes. Summize has quickly become an indispensable tool for our legal and operations teams.”