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Summize, a legal tech startup for in-house contract management, secured a $50 million investment, CEO Tom Dunlop tells Axios Pro.

The big picture: The round is another indication of investor and strategic interest in contract lifecycle management.

Case in point: Ivo, a legal-tech startup using AI for contract work, raised a $55 million Series B last week led by existing investor Blackbird.

Filevine acquired AI-powered drafting and contract redlining tool Pincites earlier this month, while Scissero acquired some assets of Robin AI in December.

Zoom in: Existing investors Maven Capital Partners and YFM Equity Partners participated, as did new investors Kennet Partners and Federated Hermes Private Equity.

Canaccord Genuity served as financial advisor and Squire Patton Boggs as legal advisor to Summize.

How it works: Summize helps in-house legal teams manage contract workflows within applications, including Microsoft Word, Slack, and Salesforce, using agentic AI.

The company uses AI to summarize contracts and extract insights from financial documents, handbooks and compliance materials.

By the numbers: Summize has had five consecutive years of more than 100% ARR growth, Dunlop says.

The company has hundreds of midmarket to enterprise customers, including Revolut, AMC Networks, teams in the MLB and NFL.

Founded in 2018, the company is co-headquartered in Boston and Manchester, England, and has raised $65 million.

What they're saying: "We definitely see this as a round that lets us be focused and not worried about the next round," Dunlop says.

Exclusive: Summize raises $50M to help manage contracts

The legal-tech startup focuses on in-house contract management.

Illustration of spotlight highlighting a contract about big tech.

Summize, a legal tech startup for in-house contract management, secured a $50 million investment, CEO Tom Dunlop tells Axios Pro.The big picture: The round is another indication of investor and strategic interest in contract lifecycle management.

Exclusive: Summize raises $50M to help manage contracts

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