LinkSquares Revenue, Valuation, Funding & Investors
LinkSquares is valued at $800M as of April 2022, a 40.0x multiple on its last reported $20M revenue.
Last LinkSquares valuation
$800M
Series C · Apr 2022
Last LinkSquares funding round
$100M
Series C · Apr 2022
LinkSquares revenue
$20M
Series C · Apr 2022
Key investors in LinkSquares
MassMutual Ventures
Hyperplane
First Ascent Ventures
Sorenson Capital
Catalyst Investors
Jump Capital
About LinkSquares
LinkSquares is a Boston-headquartered AI contract lifecycle management platform used by over 1,000 organizations including DraftKings, Wayfair, and ProPharma. Founded in 2015, its engine combines predictive and generative AI trained on legal data for clause extraction, risk scoring, and workflow automation across review, negotiation, and renewal stages.
Founded
2015
HQ
Boston, MAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$20M (Apr 2022)
Valuation
$800M (Apr 2022)
LinkSquares Valuation
LinkSquares is currently valued at $800M, based on its Series C in April 2022.
The $100M round was led by G Squared, with participation from Catalyst Investors, First Ascent Ventures, Hyperplane, Xerox Venture Capital, MassMutual Ventures and 2 other investors.
LinkSquares' valuation has grown 2.3x from $346M at its Series B in July 2021 to $800M in April 2022, across 2 priced rounds.
LinkSquares valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Apr 2022 | Series C | $800M | 40.0x |
| Jul 2021 | Series B | $346M | 34.6x |
LinkSquares Revenue
LinkSquares' latest recorded revenue is $20M, as of its Series C in April 2022. At a $800M valuation, that implies a 40.0x revenue multiple.
Revenue grew from $10M in July 2021 to $20M in April 2022, while the revenue multiple moved from 34.6x to 40.0x.
LinkSquares revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Apr 2022 | $20M | $800M | 40.0x | Series C |
| Jul 2021 | $10M | $346M | 34.6x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
LinkSquares Funding History
LinkSquares has raised a total of $162M across 5 funding rounds.
LinkSquares' first fundraising round was a $2M seed round in November 2017. The most recent completed round was a $100M Series C in April 2022.
LinkSquares funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2022 | Series C | G Squared (lead); Catalyst Investors; First Ascent Ventures; Hyperplane; Xerox Venture Capital; MassMutual Ventures; G2 Venture Partners; Sorenson Capital | $100M | $800M | LinkSquares develops an AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams, enabling faster contract review, data extraction, and analysis to optimize legal operations. The platform processes millions of documents, extracts over 100 million unique data points, and provides Smart Values for critical contract terms, serving over 500 customers including Wayfair, DraftKings, and Drift as of the funding announcement. On April 4, 2022, LinkSquares closed a $100 million Series C funding round led by G Squared, with participation from new investor G2 Venture Partners and existing investors including Catalyst Investors, First Ascent Ventures, Hyperplane, MassMutual Ventures, Sorenson Capital, and Xerox Venture Capital. This round brought total funding to approximately $161.5 million and valued the company at $800 million post-money. The capital is intended to expand beyond CLM into areas like intellectual property management, outside counsel tracking, and governance risk compliance, while growing international presence in markets such as Canada, the UK, and Australia, and doubling headcount to 500 employees. At the time of the round, LinkSquares reported over $20 million in annual recurring revenue (ARR) for 2021, with plans to grow ARR by 150% by the end of 2022. The company demonstrated strong traction through high user satisfaction, best-in-class win rates, robust unit economics, and relationships with top chief legal officers. It ranked on the 2022 Inc. 5000 list at #379 overall and #39 in software, and #100 on the Deloitte Technology Fast 500 with over 2,000% subscription revenue growth over three years. |
| Jul 2021 | Series B | Sorenson Capital (lead); Bottomline; Catalyst Investors; First Ascent Ventures; Hyperplane; MassMutual Ventures; Xerox | $40M | $346M | LinkSquares is a Boston-based legaltech company providing an AI-powered contract lifecycle management and analysis platform that enables legal, procurement, and sales teams to centralize, automate, and analyze contracts quickly without manual review. The platform processes millions of documents, extracts unique data points, and identifies critical contract terms and trends using proprietary AI technology. Named a 2020 Gartner Cool Vendor for Contract Lifecycle Management, it serves over 400 brands including Fitbit, Twilio, Wayfair, and TGI Fridays, with growth exceeding 1,000% over the prior two years. On July 14, 2021, LinkSquares raised $40 million in a Series B funding round led by Sorenson Capital, with participation from new investors Catalyst Investors, Xerox, Bottomline Technologies, and DraftKings executives, alongside existing backers Hyperplane Venture Capital, MassMutual Ventures, and First Ascent Ventures. This brought total funding to $61.4 million. The round reportedly valued the company at $346 million. Proceeds were allocated to doubling headcount by end of 2021, advancing AI technology, launching new products, and forming strategic partnerships, including with Xerox PARC. At the time, LinkSquares reported annual recurring revenue well over $10 million, expecting 100% year-over-year growth by end of 2021, alongside metrics like over three million documents processed, 40 million data points extracted, and a 6x increase in Smart Values for contract insights. CEO Vishal Sunak highlighted the platform's role in enabling rapid remote implementations during the pandemic. Sorenson Capital's involvement included board additions and go-to-market optimization, contributing to subsequent $100 million Series C in April 2022 at $800 million valuation. |
| Feb 2020 | Series A | Jump Capital (lead); First Ascent Ventures; Hyperplane; MassMutual Ventures; Cerity Partners Ventures | $15M | - | - |
| Mar 2019 | Seed | Hyperplane (lead); MassMutual Ventures; Fairhaven Capital Partners | $5M | - | LinkSquares, founded in 2015, develops AI-powered contract analytics software to disrupt legal operations and automate manual tasks for in-house legal teams. The company serves high-growth customers including VMware, DraftKings, Kensho, Wish.com, Asurion, and Carbonite. In March 2019, LinkSquares raised a $4.8 million heavily oversubscribed seed extension round led by Hyperplane Venture Capital and MassMutual Ventures, with participation from Wan Li Zhu, a top Am Law 50 law firm, and other investors including Jere Doyle, Chris Klaus, Steve McKenzie, Brandon Bekker, Alan Kenny, Alan Cawood, and Yoon Park. John Murphy from Hyperplane joined the board as part of the financing. The funds will expand the team, advance AI capabilities, and support a customer-centric go-to-market strategy following strong 2018 growth from 15 to 35 employees. |
| Nov 2017 | Seed | Oyster Angel Fund | $2M | - | - |
Who has invested in LinkSquares?
14 investors have backed LinkSquares across its funding rounds, including MassMutual Ventures, Hyperplane, First Ascent Ventures, Sorenson Capital, Catalyst Investors and Jump Capital.
Lead investors include G Squared, Sorenson Capital, Jump Capital and Hyperplane.
LinkSquares Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Boston, MA | 4 | Lead | Mar 2019 | |
| United States | 4 | Participant | Mar 2019 | |
 Toronto | 3 | Participant | Feb 2020 | |
| New York City, NY | 2 | Participant | Jul 2021 | |
| Salt Lake City, UT | 2 | Lead | Jul 2021 | |
| United States | 1 | Participant | Jul 2021 | |
| Chicago, IL | 1 | Lead | Feb 2020 | |
| Norwalk, CT | 1 | Participant | Apr 2022 | |
| San Francisco, CA | 1 | Participant | Nov 2017 | |
| Chicago, IL | 1 | Lead | Apr 2022 | |
| San Francisco, CA | 1 | Participant | Apr 2022 | |
| Haddonfield, NJ | 1 | Participant | Feb 2020 | |
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Start Free TrialLinkSquares Competitors
LinkSquares competitors include listed companies like CS Disco and Dye & Durham, and private ones like Procurement Sciences AI, Workboard, InfoCert and Assembled.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Washington, DC | Private | - | - | $146M | - | |
| San Francisco, CA | Private | - | - | $800M | - | |
 Rome | Private | - | - | $695M | - | |
| San Francisco, CA | Private | - | - | $1B | - | |
| United States | Publicly listed | $157M | ($44M) | $273M | 1.0x | |
| Canada | Publicly listed | $316M | $116M | $32M | 3.3x |
LinkSquares Public Comps
LinkSquares is still privately-owned, but its public comps include RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy, Valtes Holdings, Dye & Durham, Intellinetics, Intapp and Topicus.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $927M | ($26M) | 0.7x | 0.7x | (27.2x) | 4.8x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $435M | $60M | 0.6x | 0.6x | 4.3x | - | |||
| $9M | - | 10.0x | - | - | - | |||
| $30M | $2M | 2.1x | 2.0x | 35.2x | 32.5x | |||
| $77M | $6M | 0.6x | 0.6x | 7.4x | - | |||
| $316M | $116M | 3.0x | 3.3x | 8.2x | 7.1x | |||
| $17M | ($470K) | 1.4x | 1.4x | (50.9x) | - | |||
This data is available for Pro users. Sign up to see all LinkSquares competitors and their valuation data. Start Free Trial | ||||||||
Common questions about LinkSquares
| When was LinkSquares founded? | LinkSquares was founded in 2015. |
| Where is LinkSquares headquartered? | LinkSquares is headquartered in Boston, MA, United States. |
| Is LinkSquares publicly listed? | No, LinkSquares is a private, VC-backed company. |
| What is LinkSquares' valuation? | LinkSquares was last valued at $800M in its Series C in April 2022. |
| How much funding has LinkSquares raised? | LinkSquares has raised $162M across 5 funding rounds. |
| What was LinkSquares' last funding round? | LinkSquares' last funding round was a $100M Series C in April 2022, led by G Squared. |
| Who are LinkSquares' investors? | LinkSquares' investors include Hyperplane, MassMutual Ventures, First Ascent Ventures, Catalyst Investors, Sorenson Capital, Bottomline, Jump Capital, Xerox Venture Capital, Oyster Angel Fund, G Squared and 4 others. |
| What is LinkSquares' revenue? | LinkSquares' latest recorded revenue is $20M (April 2022). |
| What is LinkSquares' revenue multiple? | LinkSquares' latest valuation implies a 40.0x revenue multiple ($800M valuation on $20M of revenue). |
| Which companies are comparable to LinkSquares? | Companies comparable to LinkSquares include Procurement Sciences AI, Workboard, InfoCert, Assembled, CS Disco and Dye & Durham. |
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