According to Coindesk's June 27 report, digital contract management startup Clause raised $5.5 million in Series A financing, led by Galaxy Digital. In addition, electronic signature companies DocuSign and Galaxy Digital's EOS venture capital fund participated.
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Founded in 2016, Clause aims to provide blockchain solutions that enable companies to create, store and maintain digital contracts. At the same time, it provides customers with the same services that do not involve blockchain technology with existing platforms such as Stripe or PayPal. Peter Hunn, founder and CEO of the company, said:
The Clause system does not depend on a particular blockchain. It is blockchain agnostic and can be independent of the blockchain. That is, you can run Clause without a blockchain infrastructure. You can sign a contract, sign it with an electronic signature service, and then initiate a payment through the Stripe or PayPal platform that connects to the agreement.
In addition, Hunn said that there are several unique benefits to implementing digital contracts on blockchains. For example, a blockchain can create an immutable audit trail for the fulfillment of a contract.
Today, one of the biggest problems facing contract management is that you can't really understand what happens after signing a contract. You only have one record at the time of the signature, and there is no record of the event after the signature, which results in a large transaction cost.
This is not the first time Clause has raised funds. As early as 2017, Clause raised more than $2 million from Lerer Hippeau Ventures' BN Capital and London-based venture capital accelerator Seedcamp, and Seedcamp once again participated in this round of investment.
Galaxy Digital's Greg Wasserman and Mike Dinsdale will join the Clause board of directors.
They have extensive business experience. This is very important for Clause because our organization is gradually expanding.
Looking ahead, Hunn said that the partnership with DocuSign will give Clause new features.
In our partnership with DocuSign, we have achieved a major innovation. It not only extends DocuSign functionality and electronic signatures, but also performs other activities that customers want in DocuSign.