Contractify has successfully raised €1.3 million to enhance its contract management platform, seeking to expand its operations and improve user experience amidst a challenging investment environment.

Target Information

Contractify is a contract management platform founded in late 2015 by Steven Debrauwere and Herlinde De Buck, both of whom are seasoned experts in the contract management field. Initially focused on providing consultancy services to small and medium-sized enterprises (SMEs) regarding their contract management processes, Contractify quickly recognized the demand for a centralized platform capable of automating the management of contracts. The company aims to streamline the often cumbersome contract processes that many organizations face.

Organizations frequently deal with numerous contracts associated with various suppliers and partners, covering areas such as insurance, vehicle leasing, purchasing, sales and marketing, as well as employment. These agreements can be managed by different departments, with contracts stored across personal devices or multiple servers, creating significant challenges. On average, around 70% of contracts are automatically renewed without undergoing a proper review, resulting in potential losses and inefficiencies for companies.

Industry Overview

In Belgium, the contract management industry is rapidly evolving, marked by an increase in the adoption of digital solutions. Businesses are increasingly recognizing the need for efficient contract management to mitigate risks, e