Agree.com Secures $7.2 Million to Transform E-Signature Industry

In a landscape dominated by e-signature giants like DocuSign, new startup Agree.com is making waves by offering an unexpected twist: a free e-signature service that integrates invoicing and payment processing. Recently, the company announced it has raised $7.2 million in a seed round, signaling a pivotal moment for this innovative player in the digital transaction space.

Founded in February 2024, Agree.com aims to redefine how companies handle contracts and payments. Unlike traditional e-signature platforms, Agree.com not only facilitates signatures but also empowers businesses with advanced features like transaction management and billing. According to co-founder and CEO Marty Ringlein, the startup leverages AI and optical character recognition (OCR) to streamline the contract-signing process, making it seamless and efficient.

The Unique Proposition of Agree.com

Ringlein explains that Agree.com is designed to tackle the tangled interplay between signing contracts and processing payments. “At the end of almost every signature, someone has to pay someone money,” he told TechCrunch. By merging these typically disjointed processes, Agree.com has created a platform that enhances user experience while also improving payment velocity.

The startup’s technologies automatically detect and label contract fields and signature blocks, while also extracting payment terms for dynamic invoice generation. This multitasking approach positions Agree.com not just as an alternative to e-signature solutions like DocuSign, but as a potential competitor to invoicing software such as Bill.com.

Rapid Growth and User Adoption

Since its launch in early September 2024, Agree.com has seen impressive growth in user adoption. In just three months, the platform has attracted 25,000 users, including notable ad networks like Beehiiv and Product Hunt, as well as B2B SaaS companies such as Rho and TaxGPT. This rapid trajectory speaks to the innovative appeal of the platform, which offers a premium model for larger teams alongside its free model.

Currently, Agree.com is comprised of a small but dedicated team of seven employees, including co-founders Will Hubbard, COO, and Evan Dudla, CTO. All founders have a rich history in the startup ecosystem, having previously launched and sold multiple successful ventures.

For instance, Ringlein sold his design agency, nclud, to Twitter in 2012 and later co-founded successful startups like nvite and Gather, both of which were sold to Eventbrite and Brex, respectively. Hubbard also boasts an impressive entrepreneurial résumé, having founded air-quality startup ChemiSense during his university years before selling it in 2019.

A Future-Forward Business Model

One of the most striking aspects of Agree.com’s business strategy is its commitment to providing free e-signature services. This unique approach, as noted by Pelion partner Tyler Hogge, allows the company to gain significant market traction. Hogge stated that “the smartest way to get massive adoption would be to use e-signature as the wedge, give it away for free, and make it impossible for incumbents to reply.”

This strategy not only enhances user acquisition but also positions Agree.com to monetize its platform through transaction fees, effectively creating a sustainable revenue model from invoicing and payment processing.

Blank Ventures participated in the recent funding round, alongside angel investor Gokul Rajaram, with existing backers including 8-Bit Capital and Hustle Fund also increasing their investments. As Agree.com prepares for its international expansion later this year, starting with the United Kingdom, Canada, and Australia, the future looks bright for this innovative e-signature platform.

Conclusion

Agree.com’s recent $7.2 million seed funding round reflects the growing recognition of its unique position within the e-signature and fintech markets. By merging contract signing with payment processing, Agree.com is setting a new standard for how these services can coexist. With its ambitious growth plans and compelling business model, Agree.com is not just another startup; it represents a significant shift in the digital transaction landscape. As the company continues to expand, its commitment to user-friendly, cost-effective solutions will be a key factor in its success against established competitors.

For a deeper dive into the evolving world of e-signature technology, fintech innovations, and the impact of AI in business, stay tuned for more updates!