Founded in 2018 and headquartered in Manchester, Summize is a digital contracting platform that streamlines the contract lifecycle by integrating directly with tools like Microsoft Teams, Slack, and Word. Its AI-powered technology automates contract data extraction and interpretation, providing natural language summaries that enhance collaboration between legal and business teams. Summize serves over 100 businesses worldwide, including Fujifilm, Everton FC, NCC Group, Moonpig, and The Modern Milkman.
Summize
SaaS contract management (‘CLM’) platform streamlining contract processes for corporates
Website
YFM investment
£4.3m
Investment date(s)
2022
Deal type
Growth Capital
Location
Manchester
"YFM bring a strong combination of support and experience as we push towards the next level of growth. Their passion to be involved in our plans resonated - they were excited by the business, the market opportunity and our product. We were also confident that with a strong tech portfolio in the North, there is a a proven track record in the sector as well as extensive experience of supporting the growth of later stage businesses."
Key Information
The Business
Why We Invested
In October 2022, YFM Equity Partners led a £5 million Series A investment into Summize, alongside Maven Capital Partners. This funding was raised through YFM’s British Smaller Companies VCTs and the Maven VCTs. The investment aimed to support Summize’s expansion into the U.S. market and further develop its Contract Lifecycle Management (CLM) technology, capitalising on the global CLM software market’s projected growth to $3.30 billion by 2027.
Growth Potential
With YFM’s backing, Summize is poised to:
- Expand into the U.S. Market: Establish a presence in key overseas territories to tap into significant market opportunities.
- Enhance Product Development: Invest in advancing its CLM technology to offer more comprehensive solutions to clients.
- Scale Sales and Marketing: Increase efforts to broaden its customer base and strengthen market positioning.
Summize has received industry recognition for its innovation and growth:
- Awards: Included in prestigious lists such as Tech Nation’s Rising Stars and the Northern Tech Awards, highlighting its status as a fast-growing technology company.
- Customer Success: Maintains a client satisfaction rate of 98%, emphasising its focus on delivering value through intuitive and impactful solutions.
- Global Expansion: Following the Series A funding, Summize is accelerating its U.S. expansion while continuing to build its UK operations.
Future Plans
Summize aims to solidify its position as a market leader in digital contracting by further scaling its operations and maintaining a sharp focus on customer-centric innovation. The company’s ongoing mission is to simplify the contracting process for businesses worldwide, enabling them to achieve more with less effort.