Ironclad Announces Key Executive Hires, Company Growth as Technology Wave Hits Legal Industry

SAN FRANCISCO, June 5, 2019 /PRNewswire/ -- Ironclad, the contracting leader, announced three hires to its senior leadership team and continued expansion of its customer roster, including Fitbit, Nextdoor, and Procore. Wyeth Goodenough joins Ironclad as Chief Customer Officer alongside Joyce Solano as Chief Marketing Officer and Kat Orekhova as Product Management Lead. Together, Goodenough, Solano and Orekhova bring more than 25 years of technology leadership experience from companies like Salesforce, Facebook, Adobe and Leanplum.

Contracts are the backbone of the modern economy, but they can be a significant drain on any company's legal resources. The average legal team spends dozens of hours and thousands of dollars processing a single contract, only to deposit that contract into the virtual equivalent of a filing cabinet, where the contract is inaccessible and underleveraged. Legal teams that rely on manual contracting processes aren't just inefficient, they have minimal visibility into business and legal risk.

Uniquely built for legal, Ironclad is a modern contracting platform that enables General Counsels and their legal teams to digitize and bring data-driven insights to the contracting process--a $60+ billion market, by Ironclad estimates. By handling contract generation, processing, approval, and storage in a single platform, Ironclad enables in-house legal teams--and the companies they serve--to work faster, ensure compliance, and base their strategic decisions on contract data.

Ironclad's key growth metrics over the past year include:

    --  Increasing revenue 300%
    --  Increasing enterprise segment revenue 328%
    --  Expanding its customer roster 2.5x

"I've seen first hand how painful contracting can be, especially with enterprise customers," said Wyeth Goodenough. "What sets Ironclad apart is the speed at which customers can deploy our software and deliver business value. From software startups, to major league sports teams to global cosmetics companies, Ironclad is helping legal teams turn their contracting process into a competitive advantage."

"Ironclad has expedited contract processing at Procore and helped us ensure compliance in contracting and procurement," says Logan Maley, Associate General Counsel of Procore, provider of construction software. "Everyone in the company is on Ironclad, so we're able to verify that we're always using the most up-to-date version of a contract template, whether that's an NDA or independent contractor agreement. Ironclad also tracks contract data and can flag possible errors or other issues for review."

Employee growth and diversity
Over the past year, to meet its growing business, Ironclad has expanded its employee base 150%. In addition, as part of its Diversity and Inclusion (D&I) initiative, the company announced the following breakdown of its company makeup:

    --  41% of workforce is female
    --  75% of Executive Team is from a minority group
    --  15% of workforce are parents

"Our biggest asset is our people, and we make extraordinary efforts to identify top talent from any background," said Ironclad CEO Jason Boehmig. "Diversity is just one important aspect of that hiring priority. We have teammates from Yale Law School working side by side with people that never graduated from college. I'm a firm believer that the more inclusive we are as a company the better we can represent our customers and serve their interests, which is always our north star."

The new hires and company growth come on the heels of Ironclad's Series B financing announcement in January, which brought Ironclad's total funding to $34M. Ironclad is backed by Sequoia, Accel, Greylock, SV Angel, and Formation 8.

About Ironclad
Ironclad is the digital contracting platform, which companies like Dropbox, AppDynamics, and Fitbit rely upon to unlock the power of their contracts data. By streamlining contract workflows, from creation and approvals to compliance and insights, Ironclad frees legal teams to be the strategic advisors they're meant to be. Founded by a Fenwick & West lawyer and a Palantir engineer, Ironclad is backed by Sequoia, Accel, Greylock, SV Angel, and Formation 8. To learn more, please visit us at https://www.ironcladapp.com.

Visit Ironclad's website to learn more.

CONTACT: inquiries@ironcladapp.com

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SOURCE Ironclad Inc.