Summize raises £40m to automate contracts using AI in productivity, CRM tools
This article covers Summize, an AI startup, raising £40m in a growth funding round to accelerate international expansion and develop its contract lifecycle management product. The funding will support Summize’s international expansion and product development, targeting in-house legal teams seeking AI-driven contract automation.
Summize, an AI startup, has raised £40 million in a growth funding round to accelerate international expansion and develop its contract lifecycle management product. The deal brings together new institutional backers and existing investors, and signals continued investor interest in AI-driven automation for in-house legal teams.
Why it matters
The funding is notable for several reasons. At £40 million, it marks a material growth-stage check for a UK-founded software business operating in the competitive CLM market, where AI capabilities are increasingly a differentiator. Summize’s customer roster — from Revolut in fintech to AMC Networks in media, Matillion in data tooling, and multiple professional US sports teams — suggests its product is being used across industries that demand scalable contract workflows. For the UK ecosystem, a Manchester-headquartered company securing this level of institutional backing underlines regional momentum outside London.
Inside the product
Summize provides contract lifecycle management that surfaces within the applications teams already use. Its AI works inside Microsoft Word, Outlook, Teams, Slack, Salesforce, and HubSpot to automate drafting, review and contract management workflows. The company positions itself primarily as a tool for in-house legal teams to reduce manual tasks and connect legal processes with wider commercial systems.
Summize reports five consecutive years of 100% ARR growth and has expanded operations in the US with offices in Boston and San Diego while establishing a new headquarters in Manchester. Its customer mix — including finance, media and enterprise data companies — illustrates CLM demand across sectors that manage high contract volumes and need tighter integrations with CRM and collaboration platforms.
Who are the investors?
The round is led by Maven Capital Partners, which invested through its institutional buyout fund alongside commitments from Maven Investor Partners, the firm’s deal-by-deal vehicle. New institutional participants include Kennet Partners and Federated Hermes Private Equity, while existing backer YFM Equity Partner also reinvested.
Maven says the transaction was executed from its UK Regional Buyout Fund II, which can make equity investments of up to £20 million, and that the firm will remain the largest shareholder in Summize when holdings across its vehicles are aggregated. The deal also delivered a profitable partial realisation for Maven’s VCT investors at 3.7x the original investment, while retaining an ongoing equity stake.
Kennet Partners brings a track record in B2B software and explicit US market experience, complements Maven’s multi-fund approach, and is positioned to support Summize’s international expansion. Federated Hermes Private Equity’s involvement signals interest from larger private equity pools in software businesses with recurring revenue models and cross-border growth potential. YFM’s continued participation provides continuity from earlier investor cycles.
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Founder perspective
In the announcement, Tom Dunlop, CEO and co-founder of Summize, said:
We founded Summize to bring contract clarity to the entire business, and Maven, along with our additional investors, has been a key partner in supporting that mission. Contracting shouldn’t be a bottleneck for growing midsize companies, so our goal is to help in-house legal teams use AI to reduce manual work and spend more time as strategic partners and business accelerators.
In the announcement, Jeremy Thompson, Partner, Maven Buyout Fund, said:
This investment highlights Maven’s long-standing commitment to support innovative, founder-led technology businesses with global potential. Summize has progressed from an early-stage concept into a highly scalable SaaS platform with a growing international customer base. We are delighted to lead this new investment in Summize at a pivotal point in its growth journey, and the opportunity to partner with experienced investor, Kennet Partners, who bring considerable US market expertise and B2B software specialism, will further strengthen the platform for future expansion.
In the announcement, Ewan MacKinnon, Fund Manager for the Maven VCTs, said:
This transaction delivers an attractive and strategic outcome for our VCT investors, providing a meaningful partial realisation while allowing us to maintain an ongoing equity stake in a high-performing business. Summize continues to demonstrate strong operating momentum and recurring revenue growth, and we believe the decision to reinvest alongside new institutional partners positions the company well for sustained long-term value creation.
The bigger picture
This round sits at the intersection of two venture trends: growing investor appetite for AI-enabled enterprise SaaS and continued appetite for UK software businesses that scale into the US market. CLM is a crowded space, but buyers increasingly favour solutions that embed into existing productivity and CRM tools and can demonstrate measurable reductions in legal cycle times.
For AI investors, the deal reinforces that applied AI in business workflow automation remains a bankable proposition when paired with recurring revenue and clear enterprise integrations.
Summize’s funding adds to a broader picture of UK-founded SaaS companies attracting late-stage and private equity capital as they internationalise, and it illustrates how regional hubs such as Manchester are becoming more prominent in the UK’s startup funding landscape.
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