Osborne Clarke has advised investors VR Ventures/Redstone, coparion and Swiss Post Ventures on their participation in the seed funding round of B2B software-as-a-service start-up ContractHero.
Many small and medium-sized enterprises (SMEs) store their contracts in folder-based archives such as Google Drive or Sharepoint, which can lead to a lack of overview, waste of resources and compliance risks. As a B2B start-up, ContractHero aims to help SMEs gain full control over their contracts. Their cloud-based software-as-a-service solution provides direct access to relevant information and enables businesses to realise the full potential of their contracts. Founded in 2020 by Sebastian Wengryn and Gerry Koch, ContractHeros customers include SMEs as well as market leaders in the DACH region such as Eurowings, ZDF, Mercedes Benz Leasing, Dorint Hotels and Miles Mobility.
Now VR Ventures/Redstone, coparion, Swiss Post Ventures, xdeck and Venista Ventures are investing EUR 2.15 million in the start-up as part of a seed financing round. The funds raised will be used to expand the contract platform and increase the tech and sales team.
“We couldn't be prouder of Sebastian Wengryn and Gerry C. Koch, along with the entire ContractHero team, for achieving this significant milestone. Since joining our portfolio more than 1.5 years ago, ContractHero has been making waves in the smart contract management space, and we can't wait to witness the continued transformation they will bring to SMEs in the DACH region and beyond” says Philipp Werner from Redstone.
The Osborne Clarke team advising VR Ventures/Redstone, coparion and Swiss Post Ventures, led by Maximilian Vocke, consisted of Dana Alpar (both Corporate / Venture Capital), Frederike Emme, Dr Sebastian Lilje (both Employment), Dr Lina Böcker (IT), Philip Funke (IP) and Neil Simon-Weaver (Data Protection).