UPDATED 22:50 EDT / MAY 24 2018

APPS

Intelligent document automation provider Conga lands $47M in funding

Intelligent document automation company AppExtremes LLC, which does business as Conga, is ready to double down on its global expansion plans after landing a $47 million round of funding Thursday led by Insight Venture Partners and Salesforce Ventures.

The company said it plans to use the cash to fund the development of its product offerings. It will also expand into areas where demand for its services is growing most rapidly, particularly the Europe the Middle East and Africa as well as the Asia-Pacific region, officials said.

Conga sells products that help make it easier for business employees to create digital contracts and documents, store those files and automate updates when necessary. Its products are somewhat comparable to those of DocuSign Inc., although unlike that platform, it works exclusively with Salesforce.com Inc.’s ecosystem.

One of its best-known products is Conga Contracts, which enables companies to put together an internal library of preapproved agreements, standalone clauses and other legal building blocks. A technology consulting firm, for instance, might assemble terms of service for its different advisory packages.

The company boasts about 8,500 enterprise customers, including the likes of Qualcomm Inc., Sony Corp. and Hilton Worldwide.

The funding round follows what has been a pretty hectic few months in 2018. So far this year, Conga has made three acquisitions, including Counselytics Ltd., Octiv Inc. and Orchestrate LLC. It also launched a new product called Conga AI, which is based on Counselytics’ artificial intelligence-based contract discovery technology.

“We’ve aggressively grown the breadth and depth of the Conga Suite through product development and acquisitions,” said Matthew J. Schiltz, Conga’s chief executive officer.

Image: Conga/Facebook

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