Gothenburg, January 27, 2021 – The Scandinavian digital contracting platform Precisely raised €1.8 million in seed funding led by Peak, marking the funds first Nordic investment. Precisely will use the investment to expand its team, further develop its product and accelerate international growth.
“As a former business lawyer, I know all about the pain of handling contracts manually,” remarks Precisely founder and CEO Nils-Erik Jansson (pictured). “That’s why we built Precisely: to help legal teams decrease their time spent on the contract lifecycle by 80%. Precisely improves their full contract workflow: from drafting to negotiating, to signing and managing contracts.”
Precisely serves over 200 clients worldwide. “We focus primarily on legal teams, not on law firms. Our clients use our software to manage contract workflows for HR, sales, and procurement, to name a few examples.” According to Jansson the product is built for enterprise clients but has also seen adoption by smaller companies that operate digital-first.
With the money in the bank, Jansson is looking forward to the future:
“We are excited to partner with Peak as they understand our potential and have a successful track record of scaling European companies. We are prepared to scale rapidly, and even though the round just closed, we have already secured several key hires in our growth team.”
With a background in law, Peak’s David Zwagemaker is no stranger to the legal world. “Since I worked in law over ten years ago, there has been relatively little innovation in the legal market”, Zwagemaker reflects. ”A decade has passed, but lawyers still operate the same way using paper or – at best – sending Word documents back and forth. There is a massive opportunity to improve process efficiency and Precisely is well-positioned to capitalize on this.”
The €1.8M investment will be used for international expansion and further product development. “There is a long way to go in the journey to automate more legal processes”, Zwagemaker adds. “Precisely’s product is ready for a bigger audience. We are ready to help them take the next step.”
Precisely is a legal tech company based in Gothenburg, Sweden. Founded by business lawyer Nils-Erik Jansson, Precisely was created to improve and automate legal processes by moving the whole contract workflow into a single digital contracting platform. Precisely has acquired a wide variety of customers spanning from SME’s to enterprises, mostly across Europe and in the United States.
More information can be found on https://precisely.se
Peak is a European investment fund based in Amsterdam, The Netherlands. Founded and funded by experienced entrepreneurs, Peak offers smart venture capital to European fast-growing early-stage Marketplace, Platform, and SaaS companies. This marks the fund’s first investment in the Nordics.
Peak manages EUR 84 million and has made 28 investments to date including IENS, which was sold in 2014 to TripAdvisor (NASDAQ: TRIP), Radionomy, which was acquired in 2015 by Vivendi (EURONEXT: VIV) and CheapCargo, which was purchased in 2016 by PostNL (AMS: PNL).
More information can be found on https://peak.capital