Agiloft, the global standard in tokenless contract lifecycle management (CLM), today announced a record year 2021 with a 100% increase in customer bookings, a 60% increase in annual recurring revenue (ARR), and a 72% increase in the number of employees. On the heels of this success, Agiloft will begin 2022 with a new visual branding and refine the company’s core mission of offering “non-settlement contract management.”
“The year 2021 marks the beginning of a new era here at Agiloft,” said Eric Laughlin, CEO of Agiloft. “We have seen unprecedented growth in sales and our customer base, especially in the enterprise market, and have made significant additions to our team. We have launched powerful connected Agiloft experiences for seamless integration with our enterprise technology suite. We have significantly expanded our partner program and have consistently received positive feedback from our customers , which has contributed to the growing list of industry awards and recognitions. Therefore, we celebrated this new era with a new visual identity that conveys our key strengths: agility and empowerment.”
In line with the company’s goal of expanding its vertical and geographical market presence following a growth stock investment of $45 million in 2020, Agiloft grew sales of new customers by 100% in 2021 and boosted ARR by 60% while also maintaining a customer satisfaction score of 95.5% .
New brand in 2022
Building on momentum from 2021, Agiloft launches its new visual identity and core brand message to kick off 2022. The new identity is modern, bold, friendly, and communicative, and depicts Agiloft’s qualities of agility and empowerment while conveying its merits and trustworthiness. Meanwhile, its new brand message is about the ever expanding expansion of capabilities: “We believe our enterprise customers deserve CLM without restrictions, so we work every day to ensure that Agiloft is the CLM solution that offers unparalleled flexibility, seamless scalability, and deep expertise,” Eric said. Laughlin.
Agiloft also welcomed the new leadership to consolidate management expertise and support continued growth. This includes Gordon Loudoun as Vice President of Professional Services and Training, Angel Lang as Vice President of Finance, Ann McNulty as Senior Director of Artificial Intelligence Success, and Dan Musera as Senior Vice President of Strategic Accounts. Overall, Agiloft increased headcount by 72% in 2021 with significant hiring, sales, marketing, and customer success to serve its growing client base.
Agiloft has continued to grow a partner program geared towards creating greater shared value for customers and expanding partner opportunities. Focusing on a strategic set of partnerships with major vendors as well as service and technology providers, 2021 saw new alliances with Boomi, Dell Technologies’ business provider of a cloud-based integration platform as a service (iPaaS); Tableau, the visual analytics platform; Factor, Alternative Legal Services Provider (ALSP); Elevate, a global law firm; and more recently, Tata Consulting Services, a provider of global IT services, consulting and business solutions.
New product releases and integrations
To accelerate the development of its CLM software, Agiloft released a major overhaul of its user interface, released a new product module, and accelerated its development of connected experiences. The new intuitive interface increases user adoption and advanced capabilities to automate and integrate complex contract processes, allowing customers to quickly adapt workflows as needs change. The latest update featured Connected Experiences to enable users to use Agiloft CLM as a connected system for cross-registration with familiar apps like Microsoft Teams, Microsoft Word, Salesforce, and more.
Industry Awards and Recognitions
Agiloft’s strong year has been validated by industry awards by top awards and analyst firms. Recently, Agiloft was named Contract Management Platform of the Year by the LegalTech Breakthrough Awards as well as being a leader in the IDC MarketScape 2021 CLM Seller Rating for Corporate Law. It was also named a Top CLM Supplier in the 2021 Gartner Critical Capabilities and a Leading CLM in the Gartner 2021 Magic Quadrant. In addition, Agiloft was awarded a Silver Stevie Award for its AI Core program at the 2021 American Business Awards as well as the 2021 Business Intelligence Innovation Group Award.
Last but not least, Eric Laughlin, CEO of Agiloft, was awarded the Gold Globe at the 2021 Global CEO Awards.
As the global leader in Contract Lifecycle Management (CLM) software, Agiloft is trusted to deliver significant purchasing savings, enable more efficient legal processes, and accelerate sales cycles, all while dramatically reducing compliance risk. Agiloft’s scalable, code-free platform ensures rapid deployment and a fully scalable platform. Using contracts as a commercial registry platform, Agiloft’s CLM software leverages artificial intelligence to improve contract management for legal departments, purchasing, and sales. Visit www.agiloft.com for more.