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<keyword id="11441043" type="COMPANY" weightage="20" keywordseo="SimpliContract">SimpliContract</keyword>, an AI and SaaS-based contract lifecycle management (<keyword id="3467940" type="COMPANY" weightage="20" keywordseo="clm">CLM</keyword>) platform, said on Monday it has raised <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 1.8 million in a <keyword id="948731" type="PERSON" weightage="20" keywordseo="seed-funding">seed funding</keyword> round led by <keyword id="1397792" type="COMPANY" weightage="20" keywordseo="Kalaari-Capital">Kalaari Capital</keyword> with participation from Picus Capital, Arka Ventures, and Digital Sparrow Capital. This funding will drive its efforts in engineering, <keyword id="6019235" type="COMPANY" weightage="20" keywordseo="ai-research">AI research</keyword>, and marketing, the Bengaluru-headquartered company said in a statement.<br /><br />SimpliContract's product supports organisations across the contract lifecycle from request to renewal and enables effective collaboration for internal and external stakeholders such as vendors and customers, it said.<br /><br />The platform, built with customisable and intelligent workflows, seamlessly integrates with enterprise applications and provides actionable insights to users across procurement, sales, and legal functions, the statement said.<br /><br />Partner at Kalaari Capital, <keyword id="154262" type="PERSON" weightage="20" keywordseo="Ravinder-Singh">Ravinder Singh</keyword>, said, "90 per cent of global enterprises and 50 per cent of midsize organisations will have CLM solutions in place by 2023. The Global CLM market is expected to grow from USD 1.5 billion today to USD 5.2 billion by 2027. We believe that the AI- powered CLM platform of SimpliContract will drive and ride this growth."<br /><br />"We are seeing significant interest and adoption in the market within a few months of launch. SimpliContracts AI-driven platform supports over 4,000 enterprise users and manages 30,000-plus contracts worth over USD two billion in value," CEO of SimpliContract, Guru Venkatesan, said. <br /><br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride</a><br /></strong><a href="https://www.businessinsider.in/business/news/why-dodla-dairy-has-no-plans-to-expand-beyond-southern-india/articleshow/83503817.cms"><strong>Here’s why Dodla Dairy has no plans to expand beyond southern India for at least the next two years even with its IPO</strong></a>

SaaS startup SimpliContract raises $1.8 million in seed funding led by Kalaari Capital

Software-as-a-Service (SaaS) company <keyword id="1836134" type="General" weightage="100" keywordseo="icertis" source="Orion">Icertis</keyword> on Monday said it has secured $150 million in funding comprised of a revolving credit facility and convertible financing from Silicon Valley Bank.<br /><br />Icertis said that the funds will enable it to further extend the company's leadership position in the Contract Lifecycle Management (CLM) category by accelerating the application of transformational technologies like artificial intelligence, machine learning, and <keyword id="6355684" type="General" weightage="50" keywordseo="blockchain" source="Orion">Blockchain</keyword> to deliver material, unique, and consequential value to customers.<br /><br />"We continue to see strong momentum with our clear value proposition as we help customers become more agile, drive efficiencies, and respond to market challenges like inflation, sanctions, economic slowdown, and supply chain disruptions," said <keyword id="15395939" type="General" weightage="50" keywordseo="rajat-bahri" source="Orion">Rajat Bahri</keyword>, <keyword id="53346" type="General" weightage="50" keywordseo="cfo" source="Orion">CFO</keyword> of Icertis.<br /><br />"This new funding from Silicon Valley Bank is a major vote of confidence in our growth trajectory, enhancing our already strong capital position, and enabling us to lean in to capture market share and build towards the next exciting chapter in our company's journey," he said in a statement.<br /><br />The Icertis Contract Intelligence platform helps companies structure critical commercial, legal, and operational data within contracts and connect that data to surrounding procurement, ERP, HCM, and CRM systems.<br /><br />According to MGI Research, the category total addressable market for CLM will increase to $30 billion in the next five years.<br /><br />"Understanding and harnessing the underlying data can drive material business impact to a wide range of enterprises. We're proud to support the Icertis team as they build an enduring and industry leading enterprise software company," said Bob Blee, Head of US Technology Corporate Banking at Silicon Valley Bank.<br /><br />Icertis handles more than 10 million contracts worth more than $1 trillion in over 40 languages and more than 90 countries.<br /><br /><b>SEE ALSO:</b><br /><br /> <b><a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-reports-89-yoy-increase-in-q2-net-profit-to-2145-crore/articleshow/95207348.cms">Bharti Airtel reports 89% YoY increase in Q2 net profit to ₹2,145 crore</a></b><br /><br /> <b><a href="https://www.businessinsider.in/finance/news/rbi-measures-controlled-inflation-but-challenges-remain-say-economists/articleshow/95201223.cms">RBI measures controlled inflation, but challenges remain say economists</a></b><br /><br /> <b><a href="https://www.businessinsider.in/careers/news/number-of-gig-workers-earning-over-85000/month-rose-over-60-since-last-october-report/articleshow/95208221.cms">Number of gig workers earning over ₹85,000/month rose over 60% since last October: Report</a></b><br />

Icertis raises $150 million to boost contract lifecycle management business

Check out 18 pitch decks that legal-tech startups used to raise millions

<p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li>Google has introduced new URLs that can open up blank Google Docs with the click of a button.</li><li>To try it out, simply point your browser to <a href="http://doc.new">doc.new</a>&#xa0;or other Google URLs.&#xa0;</li><li>Here's an incomplete list of these new URLs, along with a way to take the shortcut to the next level.&#xa0;</li></ul><p>Last last month, Google rolled out a new time-saving shortcut for anyone who spends a lot of time in Google Docs.</p><p>To open a new, blank document - or spreadsheet, or presentation - all you have to do is go to one of Google's handy new URLs.</p><p>So if you want to start a new document, you just have to type "<a href="http://doc.new"><strong>doc.new</strong></a>" into your browser.</p><p>Here's an incomplete list of the new shortcuts:</p><ul><li><strong><a href="http://doc.new">http://doc.new</a></strong> - opens new Google document</li><li><strong><a href="http://sheets.new">http://sheets.new</a></strong> - opens new Google Sheets spreadsheet</li><li><a href="http://deck.new"><strong>http://deck.new</strong> </a>- opens new Google presentation</li><li><strong><a href="http://site.new">http://site.new</a></strong> - creates new Google sites website&#xa0;</li><li><strong><a href="http://form.new">http://form.new</a></strong> - creates new Google form</li></ul><p>This might seem like a minor new shortcut, but a lot of people are&#xa0;<em>pumped.&#xa0;</em></p><p>If you want to take this shortcut to the next level, you can create bookmarks for these new sites in your bookmarks bar.</p><p>In Chrome, simply go to Bookmarks &gt; Bookmarks Manager &gt; Add new bookmark.&#xa0;</p><p>Then create a bookmark with these URLs and whatever you might want to call the shortcut, like this:&#xa0;</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>Then you can put the shortcuts in your Bookmarks Bar for easy access, like this:</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p class="tagline">Get the latest Google stock price<a href="http://markets.businessinsider.com/stock/GOOG-Quote"> here.</a></p><div></div><div></div><div></div><div></div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/review-google-pixel-3-better-than-iphone-xs-2018-10">Review: Google Pixel 3 and 3 XL are the best smartphones you can buy right now</a></h3>        <div>                    </div>    </div>

People are going wild for a handy new shortcut that will change the way you use Google Docs

<ul><li><strong>Oil dropped into negative territory on Monday for the first time in history as an unprecedented drop in demand and fears about storage caused prices to tumble.</strong></li><li><strong>After falling to as low as $-40 per barrel Monday, prices rebounded a little Tuesday, with West Texas Intermediate trading at some $-4 barrel in morning trade.</strong></li><li><strong>Brent crude, the international benchmark also saw prices tank to below $20, dropping to its lowest level in almost two decades.</strong></li><li><strong>Analysts were confounded by Monday's shocking moves, and were quick to react.</strong></li><li><strong><keyword id="31671" type="CITY" weightage="100" keywordseo="markets">Markets</keyword> Insider rounded up some of the most interesting reactions below.</strong></li><li><strong><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">Track the price of oil live with Markets Insider.</a></strong></li></ul><p><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti">US oil prices</a> remain in <a href="https://markets.businessinsider.com/news/stocks/oil-price-wti-positive-after-historic-negative-prices-2020-4-1029111142">negative territory Tuesday</a> after dropping below zero for the first time in history on Monday, with some analysts warning that the same sort of crash witnessed Monday could happen again in a month's time.</p><p><a href="https://markets.businessinsider.com/commodities/news/us-crude-oil-wti-falls-to-21-year-low-1029106364">WTI fell by more than 321% on Monday</a> and fell from about $18 a barrel in early trading to $-40.32 a barrel at its lowest point. As of around 8.30 a.m. ET Tuesday it traded at around $-4 per barrel.</p><p>Lack of storage options, particularly at a key storage facility in Oklahoma, and the reduction in demand for the commodity during the ongoing coronavirus pandemic has tanked prices in recent days, culminating in Monday's stunning fall.</p><p>The shocking developments in the oil market in the past few days have confounded any expectations and left analysts and traders scrambling for answers. </p><p>Markets Insider decided to round up some of the most interesting and insightful reactions from analysts about the unprecedented collapse.</p><p>Check them out below (we've highlighted some key points):</p><h2><strong>Jim Reid, research strategist at Deutsche Bank</strong></h2><p>"We saw <strong>one of the more remarkable moments in financial history</strong> and that is a deeply negative oil price — that is paying someone to take delivery.</p><p>"This move is all about supply and demand. American energy users and refiners do not have the storage capacity given all that is going on."</p><h2><strong>Naeem Aslam, chief markets analyst at Avatrade</strong></h2><p>"The oil volatility is likely to remain exceptionally high in the coming weeks. Oil volatility jumped more than 270% and touched the highest level in its trading history yesterday."</p><p>"Prices in the June contract are still somewhat stable, but <strong>the fear is that the June contract is likely to face the same fate</strong> because the storage remains full and retail investors have panicked as a result of this."</p><p>"The silver lining in the whole of this situation is that the oil production is likely to fall rapidly and it is highly likely that we will see this news hitting the headlines in the coming days. "</p><p>"This will set the stage for higher oil prices. Moreover, during May, we are likely to see some demand coming back and this should help to balance the demand and supply equation."</p><h2><strong>Florian Thaler, chief executive and oil strategist at OilX</strong></h2><p>"<strong>The main problem is that WTI is landlocked.</strong> Storage space is running out quickly and the Oklahoma storage centre will be full by May. In order to alleviate the situation, price has to adjust or we can only do one thing, try and cut oil production."</p><p>"It was quite surprising that the May contract was that low trading significantly lower than the June Contract. The June contract probably follow the same route."</p><p><div type="image" title="FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.   REUTERS/Nick Oxford/File Photo" height="2000" width="4000" msid="75274887" hostid="261"></div></p><h2><strong>Carl Larry, performance director at Refinitiv</strong></h2><p><strong> </strong>"This move happened too fast and went too far to rely on simple fundamentals.  If we were to examine the theory of oversupply, we should have seen the second month of crude oil futures feeling a similar impact."</p><p><strong> </strong>"As it settled, the difference between the front month contract, CLK0 and the CLM0 was out to the tune of -$58.06.  Once again, May Crude Oil Future settled $58.06 below the June Crude Oil Future. To note, the June contract is due to expire in about three weeks from now."</p><p><strong> "</strong>What is the reality is that these moves in the oil futures were similar to COVID-19 and it's larger economic effect, they are unprecedented.  <strong>The only explanation that can be believed today is that it happened and it's likely not to happen again in some time.</strong>"</p><h2><strong>Gregory Perdon, co-chief investment officer at Arbuthnot Latham</strong></h2><p>"I have always thought of oil a little bit like a currency; it stores value, is controlled by world leaders and makes the world go round."</p><p>"But <strong>yesterday was a wake-up call</strong> and investors would be remiss to ignore that low oil means lower inflation, higher defaults, lower growth and more political instability as less petrodollars circulate in the system."</p><h2><strong>Christopher Haines, oil analyst at Energy Aspects</strong></h2><p>"The key for the US is that there is some kind of indication that demand is going to improve. Without that there we are not going to get a stock drawdown and we are going to have similar price action by the expiry of every contract."</p><p>"<strong>The exact thing will happen in June</strong> if there is no strong indication that the US <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> is coming back."</p><p><div type="image" title="A man wearing a mask against the spread of the new coronavirus looks at an electronic stock board showing world stock indexes at a securities firm in Tokyo Tuesday, April 21, 2020. Asian shares skidded on Tuesday after U.S. oil futures plunged below zero as storage for crude runs close to full amid a worldwide glut as demand collapses due to the pandemic. (AP Photo/Eugene Hoshiko)" height="1500" width="3000" msid="75274894" hostid="261"></div></p><h2><strong>Simon Brett, chief investment strategist at Parmenion</strong></h2><p><strong> "</strong>Covid 19 has resulted in huge swathes of the world population being in lockdown. Unable to spend any potential savings from lower oil prices the fall in  is of limited benefit. Think of the commuter who is not traveling and the airline that is not flying."</p><p> "Looking further ahead to when economic activity beginning to resume, <strong>a lower oil price will help keep inflation low.</strong> There has been talk that with governments expanding the money supply and increasing debts, plus if there shortages post Covid, then inflation will become more of a problem. "</p><p>"Indeed  higher inflation will erode the value of government debt. However given that oil is widely used in the production of goods, is a cost in transport and heating, the current low prices should all else being equal help to reign in any incipient inflation."</p><h2><strong>Giles Coghlan, chief currency analyst at HYCM</strong></h2><p style="font-weight: 400;">"Should COVID-19 be effectively resolved in the coming months, a rise in demand could result in the WTI recovering in the short-term. However, if we consider a long-term trajectory, supply is likely to remain elevated and oil prices will remain low. <strong>This could also symbolize be the beginning of the end for fossil fuels</strong> as the market looks to greener alternatives."</p>Read the original article on <a href="https://www.businessinsider.com/oil-price-crash-what-analysts-are-saying-2020-4">Business Insider</a>

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SaaS startup SimpliContract raises $1.8 million in seed funding led by Kalaari Capital

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Icertis raises $150 million to boost contract lifecycle management business

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Check out 18 pitch decks that legal-tech startups used to raise millions

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People are going wild for a handy new shortcut that will change the way you use Google Docs

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'One of the more remarkable moments in financial history': Here's how analysts are reacting to oil's unprecedented crash below $0

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