Bratislava-based startup Cequence, specializing in automating contract workflows, has raised €2 million in seed funding to accelerate its growth, bringing its total funding to €3 million, as Vestbee was told.
- Founded in 2018 by Peter Horný, Martin Ragan, Rasťo Kovaľ, Peter Banda, and Martin Rázus, Cequence develops an AI-driven contract management platform that automates the entire contract lifecycle.
- The system streamlines processes such as drafting, negotiation, approval, and performance tracking by applying artificial intelligence, including OpenAI’s ChatGPT.
- This automation significantly reduces errors and approval times while increasing productivity for legal, procurement, and sales teams.
- Cequence’s platform serves over 20 enterprise clients across various industries. It integrates seamlessly with existing tools, especially Microsoft ecosystems, and includes a real-time collaborative editor along with dynamic playbooks to ensure contracts are both auditable and compliant.
Details of the deal
- The funding round was led by Jet Ventures, a newly launched €50 million fund under the Czech investment firm Jet Investment. Jet Ventures focuses on supporting startups in the industrial B2B sector across Czechia, Germany, Austria, Slovakia, and Poland, with initial investments of up to €2 million.
“Cequence is fundamentally redefining how companies manage contracts. With a world-class product team, fast deployment, and strong scalability, Cequence is well positioned to become a market leader. We’re excited to support their next phase of growth," claims Kamil Levinský, Managing Director at Jet Ventures.
- Cequence plans to use the €2 million seed funding to accelerate its international expansion and further develop its AI-driven contract management platform.
- The investment will also enable the company to scale its technology faster, onboard more clients, and enhance its product capabilities to streamline contract management for businesses on a larger scale.
“This investment is a key step on our journey towards international growth. With the support of Jet Ventures and other investors, we’ll be able to scale our technology faster and help more companies streamline contract management on a large scale," CEO and co-founder of Cequence, Rastislav Kovaľ, commented in a press release.
