Inside INdiana Business

California company with Indy ties lands major funding

Ironclad has developed a digital contracting platform. (stock image courtesy: Pexels.com/Sora Shimazaki)

SAN FRANCISCO, Calif. (Inside INdiana Business) — A San Francisco-based company that operates a hub in Indianapolis has closed on a $150 million Series E round of funding. Ironclad Inc. says it will use the funding to fuel product innovation and further scale its digital contracting platform.

Ironclad acquired Indianapolis-based software company PactSafe in March 2021. The company’s platform is used by major brands such as Mastercard and L’Oréal, as well as the Texas Rangers Baseball Club.

The funding round was led by global investment management firm Franklin Templeton (NYSE: BEN), also headquartered in California.

“We’ve been following the digital contracting space for years, and Ironclad is the clear leader,” said Ryan Biggs, managing director of Franklin Templeton’s Franklin Venture Partners. “Other players have some components of the solution, but only Ironclad has the whole package. They are leading the field when it comes to vision, product innovation, and team, and we’re excited to partner with them to build the dominant platform for all business-to-business contracting.”

Ironclad did not specify if any jobs would be created as a result of the funding round. In addition to its headquarters in San Francisco and office in Indianapolis, the company also has a presence in New York.