Agree.com Secures $7.2M Funding to Compete with DocuSign and Bill.com Using AI Technology

Agree.com Secures $7.2M Funding to Compete with DocuSign and Bill.com Using AI Technology

Agree.com is revolutionizing the e-signature market with its innovative AI-powered platform that seamlessly integrates invoicing and payment processing. This unique approach positions Agree.com as a formidable competitor against industry giants like DocuSign.

Agree.com’s Unique Selling Proposition

Unlike traditional e-signature services, Agree.com offers free e-signatures to all users, allowing the company to generate revenue through transaction fees associated with payment processing. This business model not only enhances user accessibility but also streamlines the contracting process.

Recent Funding Success

In a significant development, Agree.com has successfully raised a $7.2 million seed round, as reported exclusively by TechCrunch. The company, founded in February 2024, previously secured $3 million in a pre-seed funding round led by Sheel Mohnot of Better Tomorrow Ventures. The latest funding was oversubscribed and led by Tyler Hogge at Pelion Venture Partners. Remarkably, the funding process was completed in just two weeks.

Innovative Technology Features

Agree.com leverages advanced AI technology alongside optimal character recognition (OCR) software. This allows the platform to:

  • Auto-detect and label contract input fields and signature blocks.
  • Identify and extract payment terms to dynamically generate invoices.

Co-founder and CEO Marty Ringlein emphasized the importance of integrating e-signatures with payment processes: “At the end of almost every signature, someone has to pay someone money. We combine what has historically been a disjointed and fragmented workflow to make signing better and payments faster.”

Growth Trajectory

Since its launch in early September 2024, Agree.com has experienced rapid user growth:

  1. 10,000 users within the first three months.
  2. Doubled to over 20,000 users in seven weeks.
  3. Currently boasts over 25,000 users, including notable companies like Beehiiv and Product Hunt.
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Team Expertise and Background

Agree.com operates with a skilled team of seven, including co-founders Will Hubbard (COO) and Evan Dudla (CTO). The founding team has a proven track record of launching and selling successful startups:

  • Marty Ringlein sold design agency nclud to Twitter in 2012.
  • Hubbard founded and sold air-quality startup ChemiSense to Kaiterra in 2019.
  • Ringlein, Dudla, and CPO Mike Dick sold their startup nvite to Eventbrite in 2016.

Future Expansion Plans

Agree.com aims to expand its services internationally later this year, starting with markets in the United Kingdom, Canada, and Australia. Pelion partner Tyler Hogge noted that the company’s strategy of offering free e-signatures will help achieve massive adoption and make it challenging for competitors to respond effectively.

With ongoing support from investors such as Blank Ventures and angel investor Gokul Rajaram, as well as existing backers like Better Tomorrow Ventures and 8-Bit Capital, Agree.com is well-positioned for continued growth and innovation in the fintech space.

For more information about Agree.com and its unique offerings, visit their official website: Agree.com.

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