Nestled in the vibrant streets of Paris, Tomorro, a dynamic French startup, has recently secured a substantial €11 million in funding. This funding round was led by Resonance, notable for their involvement in Metomic and Zeliq, and supported by Financière Saint James, known for Lydia and Spendesk, along with Motier Ventures, the backers of Mistral.ai and Alma. HenQ, a steadfast supporter of Tomorro, also contributed to this round, reinforcing their belief in the company’s potential.
Since its launch in 2019, originally under the name Leeway, Tomorro has swiftly captured the attention of over 200 companies in France and Europe. Their remarkable growth in just three years is not only a testament to their innovative approach but also underlines the company’s ambition to become a leader in the French market and beyond.
Tomorro addresses a critical need in the rapidly evolving contract management landscape. As companies seek more automation and collaboration in their contract processes, Tomorro stands out with its forward-thinking approach. Antoine Fabre, the co-founder and CEO, emphasizes the industry’s transformation and the company’s readiness to lead in France while eyeing international expansion.
The current state of contract management in many companies is often fraught with errors, overworked legal departments, and inefficient tracking systems. According to the World Commerce & Contracting Federation, poor contract management can cost companies up to 9% of their annual profits. Tomorro’s solution promises to streamline this process, enhancing collaboration and efficiency.
Their Contract Lifecycle Management (CLM) tool is a standout innovation, significantly reducing the time spent on contract management by integrating operational teams such as sales, marketing, and HR with legal departments. This tool not only accelerates internal contract processes but also minimizes the need for constant email exchanges. With advancements in Artificial Intelligence, Tomorro aims to provide even greater automation and assistance at every contract lifecycle stage.
Building on their previous funding round of €3.5 million, which enabled team growth and business development, Tomorro is now set to expand its workforce by over 30 new employees by the end of 2024. This expansion is part of their strategy to boost their product marketing and leverage AI advancements for new features, paving the way for their European expansion.
Tomorro’s journey is a striking example of how technology can transform traditional business processes. Their combination of cutting-edge solutions, strategic vision, and a growing client base distinguishes them in the competitive tech startup landscape. As Tomorro moves into its next growth phase, it is poised to reshape the world of contract management, offering valuable insights for anyone interested in the intersection of technology and business efficiency.
