Two new executives are joining smart contract technology provider Clause's board of directors after the company netted a $5.5 million Series A funding round, according to a news release. The investment could help further introduce smart contracts to enterprise, since Mike Novogratz's Galaxy Digital, a crypto merchant bank focused on bridging institutional finance and crypto, led the round.
Document signing platform DocuSign, Seedcamp and Raptor Group, a Galaxy Digital EOS VC Fund backed by Block.one, also contributed to the round among other investors.
Mike Dinsdale, CFO of cloud-based enterprise people management company Gusto, and Greg Wasserman, Co-Head of Principal Investments at Galaxy Digital, will join Clause as board members following the investment. Wasserman said in a statement he's confident that smart clauses will become the standard for document management.
DocuSign COO Scott Olrich said his company could benefit from the type of technology Clause is pioneering, since it can simplify an agreement process.