PactSafe Closes $880,000 in Seed Funding, Joins Acceleprise

Jul 28, 2015 1:22:00 PM

For Immediate Release

Seed round led by Acceleprise SF, Elevate Ventures, Vulpes Testudo Fund, and private angels, intended to fuel growth and development of its Digital Legal Engine.

INDIANAPOLIS, Ind. -- (July 28, 2015) -  PactSafe, the digital legal engine for the web, mobile, and the internet of things, today announced that it has raised $880,000 in seed funding from Acceleprise San Francisco, Elevate Ventures, Vulpes Testudo Fund, and a number of private angel investors, oversubscribing its planned $800,000 round.  PactSafe will use the funds to enhance its product and further expand sales and marketing efforts.  PactSafe has also joined Acceleprise SF's 3rd class of its San Francisco based enterprise SaaS (Software as a Service) accelerator program.

PactSafe is a digital legal engine that enables contracts of the web, mobile, and the internet of things to be smart and connected. The PactSafe widget and API connects legal contracts to all of a business’ online transactions, making it easy to manage those agreements while automating the record keeping process and providing advanced legal analytics.  With PactSafe, businesses are able to more efficiently manage the legal risks associated with conducting business online while also achieving high levels of transparency with its customers.

“PactSafe is the first application that gives businesses and their legal teams control and visibility into the billions of legal transactions that occur everyday online when people click “I Agree,”  said Brian Powers, CEO and founder of PactSafe. “Acceleprise SF, Elevate Ventures, Vulpes Testudo Fund, and our other investors share in our vision of becoming the standard businesses and consumers trust for their online legal transactions.”

With the investment from Acceleprise SF, PactSafe also becomes the first Indianapolis based company to join the San Francisco based accelerator.  In addition to capital, Acceleprise provides San Francisco office space, access to world-class mentorship, and access to potential investors and customers, over an immersive 4-month program.

“We are very excited to have PactSafe join our latest cohort of SaaS companies,” said Michael Cardamone, Managing Director of Acceleprise SF.  “It's clearly a large market, and PactSafe’s solution solves an obvious problem for many companies.  The combination of Brian's legal background and the rest of the PactSafe team's software background is the perfect combination to take advantage of a massive opportunity.”

About PactSafe

PactSafe is an Indianapolis based technology company. PactSafe has built the world's first digital legal engine powering the smart, connected contracts of the web, mobile, and the internet of things. The company’s advisory board includes leaders from LegalZoom, Salesforce, ZipRecruiter, and a former Amazon in-house counsel. The company has raised $880,000 in seed funding from Acceleprise SF, Elevate Ventures, Vulpes Testudo Fund, and is a member of Acceleprise’s San Francisco based enterprise SaaS accelerator program. For more information, visit www.pactsafe.com, or  access the PactSafe press kit here.

About Acceleprise San Francisco

Acceleprise San Francisco is an enterprise software focused accelerator founded in 2014 backed by a roster of great SaaS founders and executives.  Acceleprise San Francisco is the West Coast headquarters for Acceleprise, a leading enterprise accelerator started in Washington, D.C. Acceleprise San Francisco provides funding, mentorship, office space, access to potential investors and customers, and community support to promising early stage SaaS companies over a four-month program.

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Contact: Amber Ferrari
Associate Marketing Manager
Tel: 317-449-3531
Email: amber@pactsafe.com

 

 

Brian Powers

Written by Brian Powers

PactSafe CEO & Founder