Slovakia-based Cequence has secured €2M in seed funding led by Czech Jet Ventures to advance its AI-driven contract management platform. Founded by Rastislav Kovaľ, Peter Banda, Martin Ragan, and Martin Rázus in 2018, the startup has now raised a total of €3M across its funding rounds.
The funding will support Cequence’s international expansion and ongoing development of its AI-driven contract management platform. The company aims to scale its technology faster and help more companies streamline contract management on a large scale.
The round attracted participation from Czech Jet Ventures (€1.7M), Czech Look AI Ventures (€200,000), and a group of angel investors from Slido, one of the most successful Slovak startups.
Cequence is already working with over 20 enterprise clients across various industries, including Dell, Arcondis, VÚB bank, Slovenské elektrárne, Notino, and Orange.
AI-powered platform delivers 90 per cent error reduction
Cequence’s AI-powered platform automates the entire contract lifecycle — from drafting and negotiation to approval and performance monitoring.
Using AI technologies, including OpenAI’s ChatGPT, the platform helps reduce errors and delays by up to 90 per cent, shortens contract approval times by dozens of per cent, and significantly improves productivity across legal, procurement, and sales teams.
The platform’s laser-focused AI trained on real contract data drives a 49 per cent turnaround reduction and a 34 per cent productivity uplift calculated from real customers’ environment data.
The demand for automated contract management is surging within the fast-growing Contract Lifecycle Management market. The platform’s real-time collaborative editor and dynamic playbooks turn every contract into a governed, auditable process, all without ripping out existing, widely used Microsoft ecosystems.
From corporate frustration to CLM innovation
Founded by four co-founders combining expertise in legal, procurement, and technology, Cequence was born out of frustration with inefficient, manual contract processes in the corporate world. Jet Ventures, known for backing European technology companies, led the investment round with its focus on AI-driven enterprise solutions.
“This investment is a key step on our journey towards international growth,” says Rastislav Kovaľ, CEO and co-founder of Cequence. “With the support of Jet Ventures and other investors, we’ll be able to scale our technology faster and help more companies streamline contract management on a large scale.”
“Cequence is fundamentally redefining how companies manage contracts,” says Kamil Levinský, Managing Director at Jet Ventures. “With a world-class product team, fast deployment, and strong scalability, Cequence is well positioned to become a market leader. We’re excited to support their next phase of growth.”
“What sets Cequence apart is its laser-focused AI trained on real contract data, which so far drives a 49% turnaround reduction and a 34% productivity uplift calculated from real customers’ environment data, all without ripping out existing widely used Microsoft ecosystems. Moreover, the platform’s real-time collaborative editor and dynamic playbooks turn every contract into a governed, auditable process, making every stakeholder more confident and giving teams proactive control over compliance and negotiations,” says Angelo Burgarello, Partner at Look AI Ventures.
108 per cent revenue growth and European expansion
Over the past year, Cequence has achieved 108 per cent year-over-year growth in recurring revenue and maintained 100 per cent retention of existing clients. The company is currently engaged in active discussions with more than 70 additional potential clients.
Headquartered in eastern Slovakia, Cequence also operates commercial and specialist teams in Bratislava, Graz, and other European locations. The company’s vision is to become a global leader in CLM whilst helping advance the broader Slovak innovation ecosystem.
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