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Smart Contract Startup Clause Raises $5.5 Mln During Galaxy Digital-Led Funding Round

The new funding round allows Clause to turn into a much larger organization after four years on the market

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Clause, the startup that utilizes the efficiency of contract management by utilizing Blockchain and IoT, has raked in $5.5 mln during a recent Series A funding round, Coindesk reports. This funding stage was spearheaded by cryptocurrency bank Galaxy Digital.

Redefining contract management 

Apart from Mike Novogratz-led Galaxy Digital, Block.one’s Capital Fund and DocuSign put money into Clause.

Prior to that, the company, which was founded back in 2018, held a $2 mln funding round back in 2018.

Contracts are the cornerstone of any business, but they are not managed efficiently. Clause positions itself as a startup that represents the future of digital contracting. 

It created the infrastructure that would allow facilitating self-managing and dynamic legal contracts.

Clause allows signing contracts with the help of DocuSign’s e-signature solution.    

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Beyond Blockchain

Clause claims that the company doesn’t rely entirely on Blockchain. Their customers are able to manage digital contracts with the help of run-off-the-mill platforms in the likes of Stripe.

With that being said, there are multiple advantages of using Blockchain technology, such as creating tamper-proof audit logs. 

One of the biggest problems with contract management today is that you really have no visibility into the events that occur under a contract after the point of signature,” Clause CEO Peter Hunn claims.

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Alex Dovbnya

Alex covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. He’s a firm believer that Blockchain has the potential to reshape pretty much every business out there, and cryptocurrencies are only a stepping stone to the upcoming decentralized revolution.