Draft:Ontra
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Last edited by Diannaa (talk | contribs) 31 hours ago. (Update) |
| Company type | Private |
|---|---|
| Industry | Legal Technology, Artificial Intelligence, SaaS |
| Founded | 2014 |
| Founder | Troy Pospisil |
Key people | Troy Pospisil (CEO & Founder) Ben Levi (Co-Founder) |
| Products | Contract Automation, Insight, Atlas, Accord |
| Services | AI-powered contract negotiation and management, entity management, obligation compliance |
| Website | ontra |
Ontra is a global legal technology company that provides an AI-powered platform for deal, fund, and entity management, primarily serving the private markets.
Ontra combines artificial intelligence with a global network of legal professionals to streamline and optimize legal and compliance workflows for financial institutions, investment banks, law firms, and advisors. As of 2025, Ontra has roughly 850 clients, including Blackstone, Warburg Pincus, Motive Partners, and AllianceBernstein.[1]
Ontra is headquartered in San Francisco and has offices in London and Hong Kong.
History
[edit]Ontra was founded in 2014 by Troy Pospisil and Ben Levi and was initially called InCloudCounsel.[2]
Pospisil got the idea while working at H.I.G. Capital.[3] Routine tasks that could be automated “took up a tremendous amount of time," Pospisil told Fortune in 2023. "And it was done poorly, it was done inconsistently, and it was disorganized. So we started Ontra to solve that problem.”[4]
The company initially focused on building its Contract Automation solution, which is used in private capital markets and investment. Over time, Ontra began integrating artificial intelligence and cloud-based software to automate and enhance legal and compliance processes.
Since its founding, Ontra has raised approximately $325 million in combined financing and equity investment funding to support its growth and product development. In July 2019, Ontra raised $40 million in a Series A round from Battery Ventures. In 2021, it completed a $200M Series B fundraise with Blackstone Growth. In June 2025, Ontra secured a $70 million financing round with Silicon Valley Bank to accelerate product development and expand its suite of AI-powered solutions.[5]
In 2021, the company rebranded itself as Ontra.[6]
Ontra has also made acquisitions, including Captain Technologies and FundFormer, to broaden its offerings.[7][8]
Products and Services
[edit]Ontra's platform offers a range of products and services designed to automate and manage high-volume legal and compliance processes across the fund lifecycle. Key offerings include:
- Contract Automation: This core product leverages AI-enabled software and Ontra's network of legal professionals to automate the intake, negotiation, and execution of routine contracts, such as Non-disclosure agreements (NDAs), reliance letters, and joinders. It aims to accelerate negotiations, drive consistency, and reduce costs. Features include Markup Builder for AI-enabled redlining and Negotiation Summaries.
- Insight: Provides tools to monitor and report on key contract terms and obligation compliance. Insight uses AI to digitize LPAs and side letters and has a searchable, digital compendia containing all of a customer's categorized obligations and where they can assign tasks and pull reports to support their compliance efforts.
- Atlas: Modernizes and streamlines legal entity management by automating Corporate Transparency Act filings and other compliance workflows.
- Accord: AI-powered contract negotiation software that helps private market in-house teams.
- Legal Network: A global network of independently practicing legal professionals that are part of Ontra's "human-in-the-loop" philosophy that combines AI with human insight and judgement.[9]
Recognition
[edit]- 2025 Great Place To Work® Certification™: This prestigious recognition is based entirely on feedback from its employees, with 94% of respondents stating that Ontra is a great place to work – far exceeding the 57% average for typical U.S.-based companies.[10]
- 2024 LegalTech AI Company of the Year in the 5th annual LegalTech Breakthrough Awards program.[11]
- 2022 Bronze Stevie® award in the category “Company of the Year – Legal – Medium.”
- 2022 Inc. Power Partner Award[12]
- TDA 2022 Technology: Regulatory & Compliance winner: Ontra[13]
- Private Equity Wire European award for “Best Technology – Regulatory and Compliance."
- Deloitte’s Technology Fast 500 (2021)
- The American Legal Technology Award[14]
Business Model
[edit]Ontra operates on a subscription-based model, providing cloud and AI-based contract automation management software. The company’s business model centers on transforming traditional, manual legal processes into automated, efficient workflows. It initially leveraged a network of legal professionals to outsource contract negotiations and has since evolved to integrate AI extensively.
Operations
[edit]Ontra is headquartered in San Francisco, California, with additional regional offices globally, including in London and Hong Kong. As of June 2025, the company has approximately XYZ employees across X continents.
References
[edit]- ^ https://fortune.com/2025/06/10/ontra-private-equity-ai-wall-street-contracts-back-office-legal-blackstone/
- ^ https://techcrunch.com/2021/10/27/incloudcounsel-raises-200m-rebrands-as-ontra-to-expand-its-automation-tools-for-contract-management/
- ^ https://www.aol.com/finance/legal-ai-startup-ontra-raises-100000774.html
- ^ https://fortune.com/2023/08/10/troy-pospisil-founders-forum-2023/
- ^ https://fortune.com/2025/06/10/ontra-private-equity-ai-wall-street-contracts-back-office-legal-blackstone/
- ^ https://www.reuters.com/legal/legalindustry/incloudcounsel-brings-200-mln-rebrands-with-contracts-focus-2021-10-27/
- ^ https://the-drawdown.com/article/ontra-acquires-captain
- ^ https://www.privatebankerinternational.com/news/ontra-alternative-funds-captain/?cf-view
- ^ https://www.legaldive.com/news/ontra-flatfee-contracts-billablehour-alternativefee-clm-lawfirm-financialservices-outsidecounsel/631543/
- ^ https://www.greatplacetowork.com/certified-company/7080331
- ^ https://legaltechbreakthrough.com/2024-winners/
- ^ https://www.inc.com/profile/ontra
- ^ https://the-drawdown.com/article/tda-2022-technology-regulatory-compliance-winner-ontra
- ^ https://www.channelbiz.co.uk/press-release/ontra-appoints-chi-hoang-as-vp-of-engineering-wins-american-legal-technology-and-deloitte-technology-fast-500-awards/