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Summize

Summize

SaaS contract management (‘CLM’) platform streamlining contract processes for corporates

Website
summize.com
Sector
Application software
YFM investment
£9.25m
Investment date(s)
2022 & 2026
Deal type
Growth Capital
Location
Manchester

The Business

Summize has developed an AI-powered Contract Lifecycle Management (CLM) platform that helps legal and business teams work together more effectively. By embedding contract management into the tools people already use every day, the platform simplifies complex legal processes and helps organisations move faster.

YFM first invested in Summize in 2022 to support its international expansion and continued product development. Since then, the business has grown to a headcount of over 100, expanded its presence in the US with new offices in Boston and San Diego, and continued to strengthen its AI-powered platform.

It’s a great example of the businesses we look to back, ambitious management teams, innovative technology and businesses with the potential to scale internationally.

 

“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.”

Tom Dunlop, Co-Founder & CEO

Key Information

The Business

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.

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.

Business Cloud

Summize Rockets Again: Five Straight Years of 100%+ ARR and 49% Staff Growth