, while contract management startup Icertis had crossed the $1 billion valuation mark. A lawyer by training, Boehmig, who is CEO, credits Ironclad’s ascent to his background as well as the vision he laid out for the company at launch: Go beyond the legal department’s contracts to manage the paperwork of other teams such as marketing and HR across different industries. “Most investors, when I pitched our Series A, said that’s way too ambitious and it’s silly to do all that,” he says.
In August 2014, he quit his job to make a go at building those tools. At a sparsely attended Stanford Law School lecture, he met Cai GoGwilt, who had, incidentally, quit his software engineering job at Palantir on the same day in August. “Everyone around us introduced themselves, and they were all academics,” Boehmig recalls. “I was, like, ‘Hey, I’m a lawyer who just quit my job to start coding this thing.’ And he was, like, ‘I’m a coder who just quit my job to start making tools for lawyers.
In any case, Ironclad is likely still on the tails of DocuSign, which is on track to generate $2 billion in the same time period; Icertis, whichlast March that its revenue was “far north” of $100 million; and other contract management providers. Boehmig dismisses the notion that DocuSign is a rival: “Everyone thinks we’re going after DocuSign, but they’re a partner of ours. We have a competitive [contract lifecycle management] product, but we’re very compatible with the DocuSign ecosystem.
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