Nominated by: Abby Meyers, Bain Capital Ventures (not an investor), and Jimena Nowack, IVP (not an investor)
Total funding: $40 million, according to the company
What it does: Sandstone helps in-house legal departments tame the flood of requests coming their way. Its software connects with a company’s existing systems and draws on its contracts and other legal data to draft and review agreements, answer questions, and route matters to the right person.
Why it’s promising: Corporate legal teams are under pressure to do more work without adding headcount, making them eager for tools that help them move faster. That makes them a strong market for Sandstone.
Demand is already taking off. Sandstone said revenue grew more than fortyfold over a recent 90-day period, with customers such as Wayfair, Mercury, MasterClass, and ElevenLabs. To keep pace, it raised a $30 million Series A led by Lightspeed in June, just six months after closing a $10 million seed led by Sequoia.
