It’s the end of the decade! 2019 firmly established Clause as a leader in pioneering smart legal contracts. Spend a few minutes with us to recap the final year of the 2010s and the highlights of our year at Clause.
Funding and Docusign Partnership
In June, we announced a Series A fundraise from a mix of existing and new investors, led by Galaxy Digital. Included in the round was strategic investment from DocuSign®. As part of this collaboration, we announced a major milestone embedding Clause functionality within DocuSign.
An application form validating data inputs using Clause within DocuSign
Clause was also recognized as an innovative technology startup by both the Financial Times and the Financial Technologist.
Taking Smart Legal Contracts to Users
2019 included a number of other milestone events. We announced our pioneering work with leading law firms Clyde & Co and BakerHostetler.
- Clyde & Co demonstrated using Clause for parametric insurance of a solar energy producer against the risk of a shortfall in expected energy generation due to unfavourable weather by automating the performance of the policy through receipt of weather data, calculation of potential claims obligations, and producing reports of insurance premiums or losses. You can hear more on the parametric insurance episode of the Insureblocks podcast, where we discuss with Lee Bacon of Clyde & Co. You can also read more on our blog.
- BakerHostetler applied Clause technology for freight agreements linked with payment systems and public fuel price data to perform weekly pricing calculations; making payment adjustments as required by the contract. You can hear more about this BakerHostetler’s use of Clause on LegalTech Tapas. You can also read more on our blog.
We also showcased how Clause technology provides the last mile in enterprise integration at events such as Transparency19, a leading conference for the logistics and transportation industry.
Demoing a smart Transportation Agreement at Transparency19
In partnership with leading enterprise blockchain platform R3, we hosted a meetup in October at R3’s Manhattan, NY headquarters discussing and demonstrating supply chain innovation through the growing adoption of smart legal contracts.
We were also excited to discuss our new partnership with leading global legal services provider Elevate Services to develop smart Service Level Agreementsthat fundamentally improve the efficiency of how IT is delivered.
Product Milestones
This year was a big one for the development of the Clause Platform with some huge updates:
- January 25th Update
- February 14th Update
- March 20 Update
- April 16 Update
- May 6 Update
- May 14th Update
- July 26th Update
- August 16th Update
- October 14 Update
- October 30th Update
- December 16th Update
This included updates to the Contract Editor — enabling rich text structured contracts — as well as the release of Flows, numerous integrations, the Clause API, and much more!
Clause Verify
2019 also saw the launch of the Clause Verify solution; enabling contract data to be validated within a document. Clause enables contracts to be verified and checked for compliance in real time by automatically comparing contracts to internal and external systems of record. These systems can contain information about parties and payment details, company and product information, and approved parties and terms. Clause users are notified if contract data does not match another system. This can even be done within your existing tools, like DocuSign.
Clause for Salesforce
In November, we announced our Clause for Salesforce beta at Dreamforce. Using Clause, a Salesforce® user is able to generate a contract from Salesforce data, sign with DocuSign, and send it to Clause for post-signature management, while Einstein Analytics gives you descriptive and predictive analytics on real-time contract performance.
A reseller agreement running as a live contract on Clause within Salesforce
Continued Commitment to Open Source
Throughout 2019, our focus was not only on developing the leading platform for digital contracting, but a continued commitment to ensuring an open foundation for the future of this technology. To do so, we continue to be a lead contributor to the Linux Foundation’s Accord Project; an initiative we helped establish in 2017. The Accord Project now sits at over 3,000,000 lines of code. Read the Accord Project Fourth Quarter Update.
Here’s to 2020!
2019 has been a packed year….and it won’t stop in 2020. There are a bunch of exciting development to look forward to. Here’s a sneak peek to what you can expect:
- More solutions like Clause Verify
- More ways to integrate contracts with your existing business software and workflows (from ERP to finance, HR, and project management)
- Improved support for fully computable contracts, enabling clauses within a contract to seamlessly interact with one another
- Updates to our user interface, upgrading the user experience
Thank you to everyone for your support in 2019. 2020 is sure to be exciting!
To discuss how natively digital contracts can transform your business, get in touch with us at sales@clause.io.
