Manchester LegalTech Summize has reported more than 100% growth in net annual recurring revenue and doubled its customer base worldwide.
It is the fourth consecutive year that the company has achieved more than 100% growth in net ARR.
The company, which is growing in the United States, counts Seat Geek, Matillion, Huel, Avaloq, Revolut and Miami Heat among its clients.
Its contract lifecycle management tools allow everyone in a business – such as sales, procurement, finance, marketing and HR – to perform contract-related requests and tasks themselves via a self-service approach, without introducing risk.
It natively incorporates contract workflows into the most used software tools – Microsoft Outlook, Gmail, Microsoft Teams, Slack, Salesforce and Jira – so the user experience starts and ends within them. In-house legal teams set the clause rulebooks and automated workflows.
“We evaluated over 10 different vendors and Summize won over everyone in terms of use and functionality,” said Kimberly Trull, head of legal at Matillion.
“The Summize AI integration is so simple that no one pushed back on using it, as it’s clearly designed to help us all move faster.
“And the onboarding and implementation support is incredible – we know we are valued customers. Summize helps make our legal approvals seamless, leading to faster revenue generation and growth.”
Summize said that 40% of its ARR now comes from North America. It is expanding into a new 2,500 square foot office in Boston’s Seaport District to support its growing headcount in the country.
Tom Dunlop, CEO at Summize said: “Our year-on-year growth is a testament to our incredible team, product and customers who support our vision for a new approach to CLM – one that prioritises the user experience, and the way modern companies operate today.
“Summize makes it simple for legal teams to automate and use AI in their contract workflows and build a CLM process the rest of the business love to use.”