ContractPodAi’s crowd round: 30x, as Crowdcube reports it

The round

Not yet verified ContractPodAi sells software for managing legal contracts. It raised money from the crowd on Crowdcube, but we have not found the pitch page, so the year of the round, the amount raised, the number of investors and the price paid are all missing from this page rather than estimated.

The only link we have between the company and the platform is Crowdcube's own list of its winners ↗ (opens in a new tab), reported in February 2022. It names the company as Contract Pod, with NewGalaxy in brackets. Neither name appears in the coverage of its later funding rounds that we read, so the connection rests on that one list.

What happened

In July 2019 the company announced a $55m Series B ↗ (opens in a new tab), led by Insight Partners, with its Series A backer Eagle Proprietary Investments joining. UKTN ↗ (opens in a new tab) called it Europe's largest legal technology Series B at that point. Artificial Lawyer ↗ (opens in a new tab) reported the Series A in the year before as under $5m.

A $115m Series C ↗ (opens in a new tab) followed in 2021. None of the coverage we read mentions crowd investors selling, in either round.

What the figure does and does not say

Crowdcube's list ↗ (opens in a new tab) reads "Acquired by Insight Venture Partners", for a 30x return. That wording does not match the funding announcements, which describe a minority investment in a company that kept trading, not a purchase of the whole business. One reading is that the crowd's holding, or some of it, was bought in or around that round, but no source we have says so, and we do not assert it.

So this case is on the list as realised on the platform's word ↗ (opens in a new tab) alone. We have no price, no count of the holders who sold, and no second source for the multiple. It may be right. A figure this thinly supported is why this page is held out of search until someone reads the original offer document or a Companies House filing and fills the gaps above.