A report this afternoon says that Ironclad, the San Francisco-based digital contracting platform for legal departments, has raised at least $100 million in a Series D funding round at a post-investment valuation of more than $950 million.
The website The Information reports that the round was led by the venture capital firm Bond, which was cofounded by Mary Meeker, formerly a partner at Kleiner Perkins and publisher since 1995 of Meeker’s Internet Trends Report, a must-read for tech investors.
I have reached out to Ironclad for confirmation but have not heard back.
Last year, Ironclad raised $50 million in a Series C funding round in September 2019 and $23 million in a Series B round in January 2019.
The Information says that this nearly $1 billion valuation is double the company’s valuation a year ago and about 50 times its projected annualized revenue for the current fiscal year.
The Information further reports that Ironclad told prospective investors that this latest round would likely be its last before going public in two to three years.