Source: TechCrunch
You might not be familiar with the name Tomorro, but it is actually not a new startup. Tomorro is a French contract management platform that originally started as Leeway. And today, the company is announcing its new brand and an $11.9 million funding round (€11 million).
The reason why Leeway is becoming Tomorro is because the company believes we are on the verge of a massive wave of adoption for so-called contract lifecycle management (CLM) tools. With the COVID pandemic, many companies discovered the convenience of e-signatures and they don’t imagine canceling their DocuSign subscription. Now the next step is contract management.
Resonance led the Series A round with participation from Financière Saint James, Motier Ventures, existing investor HenQ and several angel investors. While many startups complain that it can be hard to raise a round in the current funding environment, Tomorro didn’t face major issues.
“We didn’t feel any particular difficulties. The roadshow was very quick, and in three weeks or a month, it was mostly done,” co-founder and CEO Antoine Fabre told me. The due diligence process took a bit longer than that, of course. He talked to roughly 15 VC funds for this round. As a data point, Tomorro currently has around 200 clients.
So what does Tomorro do exactly? Instead of using Microsoft Word to draft contracts and an Excel spreadsheet to note the amounts, due dates and other relevant information, Tomorro acts as a central repository for all your contracting needs — you no longer need to check if “Important contract v3.1 final FINAL.docx” is indeed the most recent version of a specific contract.
It looks like an online drive with folders and documents, but it’s a multiplayer tool with additional features. Tomorro lets you edit documents directly in your browser, which means that you can create a template library (with variables) and suggest edits from there.
Once a contract is done, Tomorro can send approval notifications to other relevant team members. On the other party’s side, the startup also supports basic e-signatures and has an integration with DocuSign for advanced signatures.
Read full article: https://techcrunch.com/2023/12/06/after-e-signatures-tomorro-believes-e-contracts-will-be-the-next-thing/
