This Ironclad company profile covers the company's valuation, revenue, funding rounds, investors and history. Ironclad works in legal technology, with a focus on contract lifecycle management. It was founded in 2014 and is headquartered in San Francisco, California, United States. Its latest valuation on record is US$3.2 billion (January 2022). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
About US$150 million — Annual recurring revenue (Sacra estimate), as of January 2025. Source: Sacra.
| Metric | Value | As of | Source |
|---|---|---|---|
| Total funding | About US$333 million after the Series E | January 2022 | SiliconANGLE |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jan 2022 | Series E | US$150M | US$3.2B | Franklin Templeton (lead) and existing investors | SiliconANGLE |
Ironclad timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2014 — Ironclad is founded in San Francisco by Jason Boehmig (CEO) and Cai GoGwilt.
- Jan 2022 — Series E: US$150M, valuing the company at US$3.2B. Investors: Franklin Templeton (lead) and existing investors.
- January 2022 — Total funding: About US$333 million after the Series E.
Investors
Overview
Ironclad provides contract lifecycle management (CLM) software: a platform for creating, negotiating, approving, signing, storing and analysing contracts. Legal teams use it to standardise contract templates, let business teams generate routine agreements themselves, route documents for approval, and track obligations and renewal dates after signing. Its AI features review contracts, flag risky clauses, extract key terms and help lawyers negotiate faster. In January 2022 it raised a US$150 million Series E at a US$3.2 billion valuation, and research firm Sacra estimated its annual recurring revenue at about US$150 million in early 2025.
Jason Boehmig, the CEO, and Cai GoGwilt founded Ironclad in 2014 in San Francisco. Boehmig was a corporate lawyer at Fenwick & West who taught himself to code, and GoGwilt was a software engineer. They experienced first-hand how much legal work involved repetitive contract tasks and set out to automate them. The company went through Y Combinator early in its history.
Products
- Workflow designer: tools to build automated processes for contracts such as sales agreements, NDAs and procurement contracts.
- Editor and negotiation: collaborative editing, redlining and version tracking.
- Repository: searchable storage of signed contracts with extracted data.
- AI contract review: automated review against company playbooks, clause extraction and risk flags.
- Integrations: connections with Salesforce, e-signature tools, procurement systems and more.
Funding
Ironclad raised early funding through Y Combinator and from investors including Accel, Sequoia Capital and Bond. A late-2020 round reportedly valued it near US$1 billion. In January 2022 it raised a US$150 million Series E led by Franklin Templeton at a US$3.2 billion valuation, bringing total funding to about US$333 million, according to SiliconANGLE and Law360. We haven't found a newer priced round, so the 2022 valuation should be treated as historical.
Revenue
Ironclad doesn't publish revenue. Research firm Sacra estimated it reached about US$150 million in annual recurring revenue in January 2025, up about 39% year over year. We show this as an estimate with its source and date.
Business model
Ironclad sells annual subscriptions to mid-sized and large companies, priced by users and contract volumes, with AI features in higher tiers. Customers often start with legal teams and expand use to sales, procurement and HR. Its value depends on reducing time spent on contracts and giving companies visibility into obligations and risks.
Competition
Ironclad competes with CLM vendors such as Icertis, DocuSign CLM, Agiloft, Conga and LinkSquares; with AI contract review tools; and with legal AI platforms such as Harvey that can review and draft contracts. Its strengths are a modern, user-friendly design and strong adoption among technology companies.
Ironclad at a glance
Ironclad is a San Francisco contract lifecycle management company founded in 2014 by former corporate lawyer Jason Boehmig and engineer Cai GoGwilt. It provides software and AI to create, negotiate and manage contracts. It raised a US$150 million Series E in January 2022 led by Franklin Templeton at a US$3.2 billion valuation, and Sacra estimated its ARR at about US$150 million in early 2025.
Timeline
- 2014: founded; joins Y Combinator.
- 2018–2020: raises growth rounds from Accel, Sequoia and others.
- January 2022: raises US$150 million at US$3.2 billion.
- 2023–2026: adds generative AI contract review and drafting.
Why contracts are a good fit for software
Every company signs contracts constantly: with customers, suppliers, employees and partners. Many are routine but still pass through legal teams for drafting and approval, causing delays. After signing, contracts often sit in shared drives, making it hard to track renewal dates, obligations or risky terms. CLM software brings structure to this process, and AI can now read contracts and suggest edits based on a company's preferred positions. For large companies managing thousands of agreements, the time and risk savings can be substantial.
AI and the future of CLM
Generative AI could reshape contract work, allowing much faster review and drafting. CLM vendors argue that AI is most valuable when connected to workflows, approval rules and data about past contracts, which their platforms already hold. Legal AI startups argue that standalone AI tools can deliver value faster. The likely outcome is convergence, with CLM platforms adding AI and AI companies adding workflow.
Who uses Ironclad
Ironclad's customers include technology companies, consumer brands, healthcare organisations and other enterprises, used by legal, sales, procurement and operations teams.
Valuation context
Ironclad's 2022 valuation, compared with Sacra's revenue estimate, implies a high multiple by today's standards. Our guide to legal tech startups compares it with peers.
Risks
- AI competition: legal AI startups and large platforms target contract work.
- Implementation: CLM projects can be complex for large companies.
- Market competition: many CLM vendors compete for enterprise budgets.
- Stale valuation: the last disclosed mark is from 2022.
Questions for buyers
- How long does implementation take for your contract types?
- How accurate is AI review against your playbook?
- Which systems will it integrate with?
A contract's journey in Ironclad
Suppose a salesperson needs a customer contract. Instead of emailing legal, they launch a workflow from the CRM, answer a few questions, and Ironclad generates the agreement from an approved template. If the customer requests changes, the redlines are reviewed in Ironclad's editor, with AI flagging clauses that deviate from the company's playbook. Approvals route automatically to the right people based on deal size or terms. After e-signature, the contract is stored with key data extracted, such as renewal dates and payment terms, so finance and legal can track obligations. Legal teams spend their time on unusual or high-risk terms rather than routine paperwork.
Who funds Ironclad
Ironclad's investors include Accel and Sequoia Capital, two of the most prominent venture firms, along with Bond, the growth firm led by Mary Meeker, and Franklin Templeton, which led its 2022 Series E. The mix of venture and public market investors is typical of companies that may eventually consider an IPO.
For legal teams evaluating CLM, the best evidence is usually a pilot on one high-volume contract type, measuring turnaround time and how much work moves from lawyers to self-service before rolling the platform out more widely.
Latest developments (October 2026)
Ironclad said in February 2026 that it had passed US$200 million in annual recurring revenue, according to Sacra. Former DocuSign chief executive Dan Springer became Ironclad's CEO in 2025. The company has not raised a priced round since its 2022 Series E at US$3.2 billion, which remains the latest valuation. See our legal tech guide.
What to watch
Watch AI product adoption, new funding or IPO plans, and competition from legal AI platforms.
Takeaways
Legal and business teams can manage contracts faster and with less risk. Founders can see how a lawyer-engineer team built a category leader. Investors should treat its valuation as a 2022 mark.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Ironclad do?
Ironclad is a legal technology / contract lifecycle management company headquartered in San Francisco, California, United States. It was founded in 2014.
What is Ironclad's valuation?
Ironclad was valued at US$3.2 billion as of January 2022, according to SiliconANGLE. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Ironclad make?
Ironclad reported About US$150 million (annual recurring revenue (sacra estimate)) as of January 2025, according to Sacra.
What was Ironclad's latest funding round?
The most recent financing we have verified is a series e in Jan 2022: US$150M, at a valuation of US$3.2B. Source: SiliconANGLE.
Who are Ironclad's investors?
Investors named in public announcements include Franklin Templeton, Accel, Sequoia Capital, Y Combinator and Bond.
Who founded Ironclad?
Ironclad was founded in 2014 by Jason Boehmig (CEO) and Cai GoGwilt.
Is Ironclad a public company?
No. Ironclad is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Ironclad headquartered?
Ironclad is headquartered in San Francisco, California, United States.