Contract Room, a Miami startup that offers a complete digital transaction management solution, announced it will launch its business collaboration and contracting platform at DEMO Fall 2014 in San Jose, Calif.
ContractRoom, founded in 2012, is the first end-to-end, cloud-based platform to streamline agreement and contracting for buyers and suppliers for any business transaction, enabling people to collaborate, structure and capture all negotiation data during the contracting process.
Most contracting processes are still highly manual, paper-intensive and error-prone, causing over $150 billion a year in missed savings, plus billions more in potential financial, operational and legal risk, the company said. “Most transactions in the business world are stalled by endless negotiation and redlining, with almost zero control or visibility. ContractRoom makes it faster and more likely to reach agreement, while leveraging transactional data for increased productivity and better decision making,” said Emil Stefanutti, cofounder and CEO of ContractRoom.
ContractRoom will give a four-minute demonstration of its Digital Transaction Management platform on the DEMO Fall 2014 stage Wednesday morning in San Jose, and will host live demonstrations at Booth 8 in the DEMO Fall 2014 pavilion.
After vetting hundreds of companies, Demo chose ContractRoom as one of just 40 companies to launch new products solving big problems at DEMO Fall, said Erick Schonfeld, executive producer of DEMO, which is well-known for launching innovative companies in mobile, cloud computing, consumer and social media technologies. ContractRoom was just one of five selected in the Enterprise category.
ContractRoom has a team of 11 spread between Miami, a small office in New York City and development in Warsaw and will soon be hiring, Stefanutti said. The startup has raised $1.2 million in seed financing. It offers a freemium buisness model. Pricing for customers who use ContractRoom to start and track business negotiations starts at $30 per month. Their counterparts who are invited to collaborate with their teams in ContractRoom use it for free. "We'll be launching additional free services for small businesses and freelancers soon," Stefanutti said.
Posted Nov. 19, 2014