# AXDRAFT

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/axdraft

- Industry: Software
- Headquarters: New York, US
- Website: www.axdraft.com
- Total disclosed funding: $0.3M
- Latest round: Seed (Mar 15, 2019)
- Investors on record: 2

## About

AXDRAFT, Inc. specializes in contract lifecycle management (CLM), providing businesses with tools to enhance their legal document management processes through a streamlined platform.Founded in 2017 and headquartered in New York, US, AXDRAFT, Inc. focuses on contract lifecycle management solutions. The founders, Oleg Zaremba, Yuri Zaremba, and Yuriy Zaremba, previously founded other companies. The company has undergone a strategic pivot and was acquired by Onit, Inc. on December 17, 2020. AXDRAFT has secured a total funding of USD 1.11 mn, with its most recent funding round involving investors such as FCVC Advisors, FundersClub, and Newfleet Asset Management. The current company valuation stands at USD 10.00 mn.ContractWorks, formerly known as AXDRAFT, specializes in contract lifecycle management (CLM) solutions aimed at enhancing the efficiency and effectiveness of legal document management for businesses. The core product offerings include a comprehensive platform that allows users to draft, negotiate, approve, sign, store, monitor, and report on contracts seamlessly. This all-in-one solution caters to various stages of contract management, enabling organizations to collaborate on legal documents and track the status and contents of every contract throughout its lifecycle. Targeted primarily at small to medium-sized enterprises (SMEs), the platform is designed to provide a modular approach, allowing users to start with essential features such as a secure contract repository before scaling up to more complex functionalities as their needs evolve. Geographically, ContractWorks serves clients across North America and Europe, catering to a diverse clientele that ranges from technology firms to professional services organizations.ContractWorks generates revenue primarily through subscription-based pricing models, where clients pay for access to its suite of CLM services. The typical transaction structure involves businesses subscribing to different tiers of service based on their specific contract management needs, with varying functionalities available in each tier. While specific pricing plans for individual services are not disclosed, clients are encouraged to start with foundational services like secure contract storage and gradually expand their subscriptions to include advanced features as required. This approach allows businesses to pay only for the services they utilize, promoting cost-effectiveness. The subscription model not only facilitates predictable revenue streams for ContractWorks but also aligns with the increasing demand for flexible, scalable software solutions in the legal technology sector.AXDRAFT, Inc. aims to enhance its product offerings and expand its market presence. Specific upcoming products are in the design phase with the objective of launching enhancements to its existing platform. The company is looking to expand into new markets across Europe and Asia by 2023. The recent funding of USD 1.11 mn will be utilized to support these initiatives, improving product features and supporting market entry strategies.

## Funding rounds

- Seed, Mar 15, 2019, $0.1M — Y Combinator
- Seed, Oct 4, 2018, $0.1M — Overkill Ventures

## Investors

- Overkill Ventures (https://capitalatlas.ai/funds/overkill-ventures) — Seed
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed