Ontra
Uses Generative AI and provides On-Demand Talent for the Legal Profession to manage contract negotiations. They can be thought of as a Vertical Wrapper, but with a very large niche. They describe their services as Contract Automation
Overview
Ontra (formerly known as InCloudCounsel) is a leading provider of AI-powered contract automation and intelligence solutions, with a primary focus on the private capital investment sector. [^bog3qh] [^htb49x] Established in 2014 and headquartered in Concord, California, Ontra delivers a suite of technology-driven services to streamline and digitize the entire contract lifecycle for over 700 global firms. [^bog3qh]
What Ontra Does
- Contract Intelligence Platform: At the core of Ontra’s offering is its proprietary AI engine, Ontra Synapse, which powers contract automation and intelligence capabilities. [^3mbh4q]
- Contract Lifecycle Management: The platform automates legal workflows for contract negotiation, execution, compliance management, and entity management, leveraging advanced AI and a global network of legal professionals. [^bog3qh] [^dm68i8]
Source: https://www.ontra.ai/press-release/ontra-celebrates-one-million-documents-gpt4-contract-automation/Key Features:
- Document Analysis: Quickly assesses document complexity and flags time-sensitive or unusual contract provisions for legal teams. [^3mbh4q]
- Precedent Retrieval: Surfaces relevant previous contract terms to accelerate negotiation and ensure language consistency. [^3mbh4q]
- AI-driven Search: Rapidly locates and groups similar contract provisions for review and analysis. [^3mbh4q]
- Contract Summarization: Automatically extracts and aggregates key business/legal terms for deeper insight and trend analysis across contracts. [^3mbh4q]
- Contract Analytics: Tracks structured data points (parties, duration, obligations), providing actionable intelligence for negotiations and compliance. [^3mbh4q]
Target Market
Ontra’s platform is designed for private market fund managers and institutional investors seeking to manage large volumes of contracts, reduce manual workload, standardize contractual processes, and achieve data-driven risk and compliance oversight. [^bog3qh] [^dm68i8] [^3mbh4q]
Business Model and Impact
- Technology + Legal Network: Combines proprietary technology with a large network of specialized legal professionals to ensure accuracy and quality. [^dm68i8]
- Cost Savings: Ontra’s clients often realize significant operational efficiencies and report up to 70% in cost savings due to automation and process optimization. [^dm68i8]
- Usage: Trusted by hundreds of firms globally, including some of the world’s largest asset managers. [^bog3qh]
Investors and FundingOntra has raised significant institutional backing:
- Total Funding: To date, Ontra has raised $240 million in funding. [^bog3qh]
- Recent Major Round: Its last significant round was a $200 million Series B completed approximately four years ago (relative to April 2025). [^bog3qh]
- Key Investors: While the sources do not individually list all investors, Silicon Valley Bank is mentioned as a debt funder. [^bv1dlj] As InCloudCounsel and later Ontra, past reported investors in the company have included firms like Blackstone and Battery Ventures (based on industry knowledge—this is not specified in the provided results).
- Status: The company is private and active, continuing to expand its contract intelligence and compliance solutions. [^bog3qh] [^bv1dlj]
Industry Position
- Recognized as a "Challenger" within the contract lifecycle management (CLM) technology landscape, Ontra competes alongside major brands like DocuSign, Oracle, and Ironclad. [^bog3qh]
Summary Table
| Category | Details |
| Founded | 2014 |
| HQ | Concord, California, USA |
| Focus | Contract intelligence & automation for private markets |
| Flagship Technology | Ontra Synapse (AI-powered) |
| Core Services | Contract negotiation, analytics, compliance, entity management |
| Funding Raised | $240 million (most recent: $200 million Series B) |
| Key Investors | Silicon Valley Bank (debt); others not explicitly listed in results[^bv1dlj] |
| Major Clients | 700+ global firms, primarily in private markets |
Ontra stands out by blending artificial intelligence with specialist legal services, empowering private capital clients to manage, analyze, and negotiate high volumes of contracts with efficiency, accuracy, and cost-savings. [^3mbh4q] [^dm68i8] [^bog3qh]
Sources
[^3mbh4q] https://www.ontra.ai/blog/what-is-contract-intelligence/
[^dm68i8] https://slashdot.org/software/p/ContractNow/alternatives
[^bog3qh] https://www.cbinsights.com/company/incloudcounsel
[^bv1dlj] https://www.thesoftwarereport.com/deal/
[^htb49x] https://www.ontra.ai/blog/the-journey-to-ontra-contract-automation-intelligence-and-the-future-of-legal-technology/