Ironclad at $150M ARR

Jan-Erik Asplund
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TL;DR: Founded in 2014, Ironclad began as a product-centric company building products for the rising category of legal ops that people would want to use, vs. stodgy incumbents like Apttus and SpringCM. In January 2025, Sacra estimates Ironclad hit $150M in annual recurring revenue (ARR), up 39% year-over-year. For more, read our full report and dataset on Ironclad.

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Legal, like coding (e.g., Cursor at $300M ARR), holds great promise for AI-powered software because both deal in highly structured textual data with large available data troves for training—exemplified by legal research & drafting copilot Harvey ($50M ARR, growing 400% YoY). Flipping from the law firm side to the in-house corporate side, we decided to look into contract lifecycle management (CLM) company Ironclad ($333M raised, Accel), founded in 2014 by former Fenwick & West attorney Jason Boehmig and ex-Palantir engineer Cai Wangwilt.

Key points via Sacra AI:

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