11:46:31 PM PST - Monday, December 5th, 2022

Terzo lands $16M to extract key data from contracts  

By Editor - Thu Nov 17, 6:03 am

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Contract governance is the steps taken to make sure agreed-upon terms between a company and its suppliers are met. It’s an essential part of doing business, and the consequences for getting it wrong can be steep. McKinsey estimates that poor contract governance can cost organizations up to 9% of their total revenue, which equates to $1.4 trillion for the Fortune 500 alone and $6.4 trillion across all enterprise business-to-business companies. Challenges around contract governance have fueled the rise of startups like Icertis , which recently secured $150 million at a $3.2 billion valuation to build out its contracting tools. LinkSquares in April  landed $100 million for its AI-powered contract analysis platform, while ContractPodAi, a close competitor, has raised  tens of millions to digitize contract reviews. A relatively new entrant in the space is Terzo , which was co-founded by Brandon Card, Al Giocondi and Pradeep Thangavel in 2020

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Terzo lands $16M to extract key data from contracts

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