Pergamin, a Warsaw-based contract management platform, recently secured $3 million from OnDean Forward, raising its total funding to $5 million. This investment marks a significant milestone for the company, which aims to broaden its market presence and enhance its contract automation capabilities. The funds will be directed towards developing a global contract automation platform while focusing on refining its current offerings. Pergamin’s innovative approach to digital contract management has positioned it well within the European market, despite the prevalent use of traditional methods like word processors and printers. The company’s strategy includes leveraging the latest funding to expand its presence both within Poland and internationally.
What Impact Does Pergamin’s Platform Have?
Pergamin’s platform is designed to automate and secure contract management processes for medium and large enterprises. By automating contract creation and facilitating negotiations, the platform accelerates the signing process and enhances document security. This approach not only speeds up operations but also integrates seamlessly with other data systems, allowing efficient information exchange. Pergamin’s focus on streamlining employee contract management through its Employee Contract Platform highlights its commitment to improving HR processes. With this platform, the company automates contract signing and updates, reducing preparation costs and administrative workload significantly.
How Is Pergamin Affecting The Market?
Pergamin’s innovative solutions have attracted over 130 paying clients and 120,000 registered users, with more than 400,000 contracts processed. Their clientele includes notable companies like Bolt, Heimstaden, Renault Trucks, and Volvo Financial Services. The platform’s ability to drastically cut down the workload of HR managers and reduce contract preparation costs by up to 75 percent demonstrates its efficacy in the market. Moreover, Pergamin aims to position itself as a leader within Poland and the broader European region, with aspirations to become a significant player on the global stage.
Statements from new investor Marcin Wojtczak reveal confidence in Pergamin’s potential within the legaltech sector. The investor expressed the company’s promise to shift the European market toward digital solutions, akin to trends observed in the United States.
“Legaltech in the US is a fast-growing industry, and digital contract management solutions are already critical for the largest global corporations,” Wojtczak commented.
Pergamin’s recent funding round follows a history of substantial growth since its founding in 2017. Prior reports and analyses have highlighted the company’s consistent client acquisition and service expansion. Current strategies reflect a continuation of these efforts, emphasizing digital transformation in contract management across Europe.
The investment from OnDean Forward is expected to propel Pergamin’s global aspirations, enhancing product development and market expansion. By tapping into OnDean’s expertise, Pergamin aims to leverage strategies from established markets like the U.S. to capture a larger share of the European market. The collaboration underscores a mutual goal to position Pergamin as a leader in digital contract management solutions, while also meeting the growing demands for efficient and secure contract processing worldwide.
