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Ontra

Category: AI in Legal

Ontra is an AI-powered platform that automates and digitizes legal workflows for private markets, combining software with a global network of lawyers. Ontra was founded in 2014. The company is led by Troy Pospisil. Based in San Francisco, CA, USA. Team size: 515. Total funding raised: $240M. Latest round: Series B. Key investors include Blackstone, Battery Ventures, Mike Paulus.

Founded
2014
Headquarters
San Francisco, CA, USA
Team size
515
Total funding
$240M

Value proposition

To reduce the time, cost, and risk associated with routine contract management, allowing legal and business teams to focus on higher-value strategic work.

Products and solutions

Contract Automation, Insight (for fund documentation analysis), Atlas (for entity management), FundFormer (for fundraising subscription documents)

Unique value

Ontra utilizes a 'human-in-the-loop' model, combining its proprietary AI, Ontra Synapse, with a managed global network of freelance lawyers, allowing for both the efficiency of automation and the nuanced judgment of human legal experts.

Target customer

Private equity firms, venture capital funds, hedge funds, and asset managers.

Industries served

Private Equity, Venture Capital, Asset Management, Hedge Funds

Technology advantage

Core advantage is the proprietary AI trained on a massive dataset of over one million legal contracts specific to private markets, providing deep domain expertise compared to more general-purpose contract management platforms.

How they differentiate

Ontra specializes in private capital markets and offers a tech-enabled managed service, allowing it to effectively handle complex, high-volume legal workflows specific to financial services firms.

Main competitors

Ironclad, Evisort, Juro

Key partnerships

Blackstone is a major strategic partner and investor, providing both capital and a significant use case for refining Ontra's platform.

Notable customers

Blackstone, Silver Lake, Warburg Pincus, L Catterton, Hamilton Lane, Houlihan Lokey

Major milestones

2021: Rebranded from InCloudCounsel to Ontra alongside its $200M Series B funding. 2022: Acquired Captain, a venture-backed company specializing in fund and SPV formation. 2024: Ontra reaches over 1 million contracts processed and celebrates its 10-year anniversary.

Growth metrics

Reportedly reached $85.8M in revenue in 2023. Over 800 global firms use its platform as of 2024.

Market positioning

A leading market player in contract automation and intelligence within the private equity and venture capital sector.

Geographic focus

Global, with strong operations in North America, Europe, and a growing presence in Asia.

Patents and IP

Specific patents are not publicly listed, but its proprietary AI technology, Ontra Synapse, is its key intellectual property.

About Troy Pospisil

Troy Pospisil is the Founder and CEO of Ontra, a company he established in 2014. Before founding Ontra, he gained experience in private equity as an Investment Professional at H.I.G. Capital from 2012 to 2014. His earlier career includes working as a Management Consultant at Monitor Deloitte from 2010 to 2012. This background in both finance and consulting provided him with the insights into the inefficiencies in legal workflows that led to the creation of Ontra.

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