Vulpes Testudo, an investment fund of Singapore-based Vulpes Investment Management, has invested in a $5.5-million Series A funding round for cloud-based contracting platform PactSafe.
Mercury Fund and Signal Peak Ventures co-led the round, which was also joined by Elevate Ventures. The round follows PactSafe’s $2.5-million seed round in November 2015, it said in an announcement.
The funds will be used to expand its reach further into enterprise SaaS, e-commerce markets, and other verticals.
Founded in 2015, PactSafe specializes in getting contracts signed electronically using modern workflow and innovative signing methods, which include click-to-accept and text-to-sign. The platform provides customers with the ability to populate information from any system directly into a contract and track contracts in real-time.
“With this investment, we will continue our history of creating solutions that drive efficiencies and save our customers enormous amounts of time. Since PactSafe’s inception, we’ve processed millions of legal events, allowing our customer to save 1.8 million work hours by using our platform,” said PactSafe founder and CEO Brian Powers.
Vulpes was co-founded in 2011 by Stephen Diggle, who had earlier co-founded Artradis Fund Management, once Asia’s largest hedge fund with close to $5 billion AUM.