The Leeway platform offers organisations a way to centralise and securely manage entire contract lifecycles, including generation and monitoring
Spotted: Thibaut Caoudal was working as commercial director at freelance platform Crème de la Crème when he realised that contract management has become a serious hassle – and one that was wasting large amounts of time and resources. He realised that there must be a better way to do it, and teamed up with Antoine Fabre and Sébastien Decrême to create a SaaS platform to facilitate and contract management. The result is Leeway.
The founders spent three months meeting with more than 100 legal, sales, finance and purchasing teams in order to understand their needs, before quitting their jobs to design the prototype platform. In its first six months on the market, Leeway garnered around 30 corporate clients, 500 weekly users and more than 10,000 contracts created using the platform. The company also recently raised $4.2 million in seed funding for international expansion.
The Leeway platform offers organisations a way to centralise and manage their entire contract lifecycle, including generation, monitoring, negotiation and signing, all in one place and without needing to export any documents. This significantly reduces the risk of data leaks, as well as the time spent organising manual and administrative tasks. Designed specifically for SMEs, Leeway provides an intuitive and secure cloud-based platform with features like negotiation tools, e-signing, smart storage and deadline reminders specifically for SMEs.
Co-founder Antoine Fabre noted that, “The contract management market is still very dusty and the legal departments of companies are among the last not to be digitised.” He added that the rapid growth of the company was due partly to the extensive research he and his partners conducted, adding, “We have experienced rather insane traction by signing with great companies such as Voodoo, Evaneos, Fitness Park or Dreem … This is what leads us at the start of 2021 to raise funds earlier than expected.”
Leeway started with just the three founders, but with the new funding, they hope to grow to 20 by the end of 2021. Their plans to expand also point out the importance of developing services that work across international boundaries. We have also seen this with innovations such as a startup that automates the consumer dispute resolution process, and the legal issues around protecting the environment.
Written By: Lisa Magloff