Just in case you were wondering why VCs are investing so much in CLM, every legal department I talk to these days is asking me “which CLM should we buy?” not “Should we buy a CLM?”

Gonna write something more formal, but here are some quick thoughts on CLM. #legaltech

That’s not to say that CLMs as currently constituted (in particular the doc automation portion) will necessarily become ubiquitous like CRM did ( @bradblickstein’s research has suggested people are less than lukewarm about CLM) but the anecdotal evidence is gaining momentum.

As for players, many know the big names like @icertis @ironclad_inc @springcm but inside legal departments I’m seeing a number of #startups that are not on everyone’s radar like @ParleyPro @HelloMalbek @SirionLabs

Hasn’t even been a week, and now we have @GetJuro raising $5M from @usv

Just in case you didn’t notice, investors in CLM now include @sequoia ( @ironclad_inc and @SirionLabs) @DocuSign @usv @greycroftvc @Accel among others.

CLM ain’t your grandpappy’s #legaltech

The thing is contracts don’t belong to legal, but legal often plays the role of contract custodian. If CLM turns out to be a thing, will legal continue to play the role of contract custodian or will the reduced role ultimately give way to a fundamental shift? Hard to know.