Today, I’m thrilled to share the news that LinkSquares has raised a $14.5M Series A financing. The round is being led by Jump Capital, with new investors First Ascent Ventures joining as well as our existing investors Hyperplane Venture Capital and MassMutual Ventures participating. You can get all the details in our Series A press release, here.
Today, however, I want to talk about why LinkSquares raised this Series A, with these specific investors, at this particular time. Because the truth is, we didn't have to.
2019 was an exceptional year for us at LinkSquares. Our 300% year-over-year growth exceeded all expectations. Our list of customers grew to include such amazing and diverse organizations as Twilio, Fitbit, VMware, and DraftKings, validating that our solutions are both viable in, and valuable to, a wide array of businesses.
Both the sheer number of customers we signed in 2019 and the incredible range of industries those customers represent showed us that automated contract analysis is an almost universal need for modern organizations.
Every company in the world needs an easy way to understand the opportunities and liabilities of their executed agreements, and any company of size can benefit from artificial intelligence solutions to help them achieve that understanding with reliability and speed.
2019 proved that LinkSquares was modernizing and empowering in-house legal teams, and that our AI software was the key to that empowerment. We're bringing the future to corporate counsels everywhere.
It's that opportunity, and that mission, that convinced us to raise a Series A. LinkSquares wanted -- and in-house legal teams needed us -- to make the future happen faster.
We knew that an infusion of cash would help LinkSquares sustain and accelerate our growth and innovation.
But, if we were going to bring on investment, we wanted capital partners who were as excited about our mission as we are. That's where Jump Capital comes in.
From my first interaction with the Jump team, it was clear that their focus on innovation in artificial intelligence was a great fit. Jump Capital has close ties to Jump Trading, which specializes in quantitative-based trading, so a commitment to the development of leading-edge technology is in their DNA. I’m especially pleased to welcome Saurabh Sharma to our board as a director and I look forward to partnering with him to continue our mission to change the way companies think about contracts.
So, what’s next?
First, we're hiring. For LinkSquares to grow, so must our Boston-based team. Check out our jobs page and send us a note.
Next, we’re building. Our plan is to increase the range and diversity of contract terms that our AI solutions can parse and extract, as well as expand the role of AI into other areas of the contract lifecycle. We want to make every part of contract management easier.
Finally, we're focusing. We didn’t want to raise money just because we could; we wanted to raise the money because it served a specific purpose and helped us meet the needs of the market and our customers even better. 2019 proved that LinkSquares' mission is needed, and that our solutions can make a huge impact. Supporting in-house legal teams is our guiding light and our new resources will help us continue on that track.
A huge thank you to all our customers, employees, and investors. This journey wouldn't have been possible without you.
We’re excited about what comes next and we look forward to an eventful 2020 and beyond.
Up and to the right 🚀,