Summize, the UK-based Contract Lifecycle Management (CLM) software vendor has announced its expansion to North America with the opening of a new office in Boston, MA and the launch of its US subsidiary, Summize Inc.
The expansion comes after Summize reported new ARR growth of 107%, making it the third year in a row of triple digit percentage growth.
It is planned that over 40% of Summize’s revenue will be attributed to US clients in the next 12 months as the company focuses on maintaining strong growth and building a local presence to serve the large addressable market in the region.
The new office is based in the prestigious Seaport area of the city and will provide a scalable base for Summize to expand its American client portfolio which already includes PTC, Nsight, Miami Heat, Day Wireless, TriMark and Avantus.
Creating career-defining opportunities for its UK colleagues, several members of the team have made the move across the Atlantic to establish the new Boston base with further local recruitment planned later in the year as the team expands.
Summize takes a different approach to solving the contract challenge by focusing on creating a user-friendly experience within existing work tools such as Microsoft Word, Teams and Slack. It’s this approach to usability and adoption that ensures the whole business works better with contracts.
Tom Dunlop, CEO at Summize said: “We’ve been planning our US expansion for some time and now we’ve established our US base, we have a real catalyst for further international growth. We love Boston because it’s a thriving hub for tech companies, there’s no shortage of talent and it has great transport links to the rest of the US and back to the UK. Now that we have a local presence, we’re looking forward to adding to the growing number of US logos we already have in our portfolio and expanding the same culture we’ve fostered in the UK to our new office. Boston has a new CLM vendor in town!”
Steve Klin, Summize Chairman added “The move to the US was always a part of the plan for Summize, and one of the primary reasons for the Series A investment last year. It’s a huge market and there’s a genuine need for technology to better manage contracts. Almost all the companies we talk to already use the infrastructure that best suits Summize (platforms including Teams, Slack, Salesforce and Word) so it’s easy to understand why the reaction is so positive when we tell them we can embed contract processes directly into these tools. I’m excited to be part of Summize expansion story as we build our US footprint.”