The smart-contracts company Clause said today that it has raised $5.5 million in a Series A financing round.
The round was led by Galaxy Digital, an investment firm that specializes in blockchain, digital exchanges, and business-to-business software.
The round included strategic investment from the electronic signature company DocuSign, whose technology Clause integrates with, and participation from existing investors BN Capital at Lerer Hippeau, and London-based Seedcamp.
Clause said that the funds will be used to accelerate its business development efforts, further augment its engineering teams, and nurture the broader smart contract ecosystem.
As part of the financing round, two executives will join the Clause board of directors: Mike Dinsdale, CFO of cloud-based enterprise people management company Gusto, and Greg Wasserman, co-head of principal investments at Galaxy Digital.
Clause is a cloud-based service that allows companies to build smart contracts and connect them to external tools and data sources, including payment processor Stripe, collaboration platform Slack, and the DocuSign e-signature platform. It built to run on leading blockchain platforms.
“Documents no longer need to be merely static records of agreement but can now be a truly integrated part of enterprise technology stacks,” Peter Hunn, Clause’s founder and CEO said in a statement announcing the deal. “Contracts and other documents can now be APIs. With this round we add a wealth of collective experience in disrupting enterprise contracts through digitization. We are excited to drive the next phase of market adoption.”