Pergamin funding news – Warsaw-based Pergamin Secures €2.6 Million in Funding

By automating the drafting of contracts, facilitating negotiations, expediting the signing process, and enhancing the security of processing vital business documents, Pergamin simplifies and secures contract management in medium-sized and big businesses.

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The tech business takes a novel technique, turning the contract into a database. It makes it possible for data to be shared between the platform and other systems that keep information about, say, clients and orders or employees and employment.

By providing businesses with its Employee Contract Platform, the company focuses especially on enhancing the management of employee contracts. It reduces the documentation required for tax offices and social security agencies and automates the signing and continuous updating of employment contracts. According to Pergamin, manual, frequently paper-based procedures for managing employee legal contracts alone cost medium-sized and large businesses in Poland up to 700 million euros a year.

Over 130 paying customers, ranging in size from small and medium-sized enterprises to multinational firms, have been attracted to Pergamin. They have almost 400,000 completed contracts and more than 120,000 registered users. Bolt, Heimstaden, Renault Trucks, Toyota Material Handling, Vienna Insurance Group, Volvo Financial Services, Volvo Trucks, and Westwing are a few of Pergamin's clients.

Jakub Barwaniec, co-founder and CEO of Pergamin said, “Creating, negotiating, signing, and then storing contracts is a headache for every company. In the case of employee contracts, there are also a number of additional documents required by law. Manual handling of contracts in Polish companies costs hundreds of millions of euros each year and significantly burdens HR teams and administrative departments. Pergamin allows you to significantly speed up the process from preparation to signing, enhance the security, and ensure smooth data exchange with other IT systems. When it comes to employment contracts, Pergamin accelerates the whole process by 10x while reducing preparation costs by 75 percent and recovering two-thirds of each HR manager’s workload,”.

With its investment and OnDean Forward's backing, it wants to create a global platform for contract automation. The company will receive assistance from the new strategic investor in developing new products and expanding its market and domestic presence in Poland.

Marcin Wojtczak, a new investor in Pergamin said, “Legaltech in the US is a fast-growing industry, and digital contract management solutions are already critical for the largest global corporations. This trend is also happening in Europe, but in Europe the word processor and printer still play a leading role. Pergamin has a real potential to change this. We intend to leverage our experience from growing Relativity and from investing in the American legaltech ecosystem to help Pergamin deliver on this promise. We believe that Pergamin will quickly become a leader in our country and in the region, and then a global player,”.

With this most recent funding round, it has raised a total of roughly $5 million in financing from investors. The Polish startup had previously received funding from Nunatak Capital, FundingBox, DFRI, JR Holding, and Sunfish Partners.

About Pergamin

Jakub Barwaniec, Piotr Łuczak, and Antoni Wędzikowski founded Pergamin in 2017. The company automates contract creation, facilitates negotiations, speeds up signing, and increases the security of processing important business documents to streamline and secure contract management in medium and large companies.