Ontra, Inc.

Ontra, Inc. is a legal technology company that specializes in contract automation and contract intelligence for private asset management firms.

• Context:
  • It can (typically) offer Ontra Products, such as:
    • Ontra Contract Automation, which automates the negotiation, execution, and management of routine contracts like NDAs and vendor agreements, allowing firms to process high volumes of contracts quickly and efficiently.
    • Ontra Insight, which provides self-serve access to actionable data from contracts, enabling firms to track obligations, benchmark against industry standards, and ensure compliance with regulatory requirements.
    • Ontra Fund Formation, which simplifies and expedites the fundraising process by converting manual subscription documents to SmartForms and using auto-form completion and eSignature functionalities to streamline investor onboarding.
    • ...
  • It can (typically) develop Ontra Platforms, such as:
    • Ontra Synapse AI, which serves as the proprietary AI engine behind Ontra's Legal Operating System. It is designed specifically to handle the complexities of legal workflows in private markets, leveraging advanced AI models and extensive training data from over 800,000 legal negotiations. Ontra Synapse AI is integral in tasks like precedent retrieval, document analysis, and contract summarization, providing highly accurate and context-specific outputs while incorporating human expertise to ensure reliability and precision.
  • It can combine AI-enabled software with a global network of highly trained lawyers to streamline legal workflows across the contract lifecycle, from negotiation and processing to the tracking of obligations in complex agreements.
  • It can automate routine legal processes, such as negotiating and managing fund-related documents for private markets.
  • It can often leverage a large dataset of tagged contracts and advanced AI models to enhance the accuracy and efficiency of legal work.
  • It can include tools for digitizing complex legal workflows, such as MFN election processes in private equity side letters, streamlining the entire process from document creation to obligation tracking.
  • ...
• Example(s):
  • 2014, Ontra was founded in San Francisco to modernize legal workflows for private asset management firms through automation and AI-driven solutions.
  • 2017, Ontra made a significant investment in AI by hiring its first machine learning engineer, marking the beginning of its development of AI-powered legal tools.
  • 2020, Ontra rebranded from its original name, InCloudCounsel, to Ontra, reflecting its broader focus on contract lifecycle management beyond just legal counsel services.
  • 2023, Ontra acquired Captain, a provider of alternative investment software, to enhance its offerings for managing the complexities of private fund agreements.
  • 2024, Ontra achieved a major milestone by processing over 750,000 contracts, reinforcing its position as a contract automation and intelligence leader, serve over 700 leading asset management firms globally, including Blackstone, Brookfield, and Bain Capital, demonstrating its wide adoption in the industry.
  • ...
• Counter-Example(s):
  • Ironclad, Inc., a competitor in the contract lifecycle management space, which also offers AI-driven contract management but focuses on a broader range of industries beyond private asset management.
  • DocuSign, Inc., another competitor that provides electronic signature and agreement cloud services, but does not offer the same level of AI-powered contract automation specific to the private markets as Ontra.
  • Juro, a competitor that focuses on contract automation and management for in-house legal teams, offering a different set of tools and a user interface tailored for smaller legal operations.
• See: Contract Automation, AI-Enabled Legal Technology, Private Equity Legal Solutions

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References

2024

• https://www.linkedin.com/company/ontra-ai/about/
  • Ontra is the global leader in Contract Automation and Intelligence for private asset management firms. The Ontra platform combines AI-enabled software with a worldwide network of highly trained lawyers to modernize recurring legal workflows. Ontra’s solutions improve all aspects of the contract lifecycle — from negotiating and processing routine contracts to tracking obligations in complex agreements. Ultimately, Ontra reduces the time, expense, and risk associated with contract management, freeing its customers to focus on other strategic priorities.
  • Website: https://www.ontra.ai
  • Industry: Software Development
  • Company size: 464 associated members
  • Headquarters: San Francisco, California
  • Founded: 2014
  • Specialties: Legal Technology, Contract Automation, Contract Management, Contract Lifecycle Management, Private Markets, Private Equity, and NDAs