LinkSquares, a provider of AI-powered contract lifecycle management and analysis tool, has raised $40 million in Series B financing led by Sorenson Capital. New investors Catalyst Investors, Xerox, Bottomline Technologies, DraftKings' founders and key legal and compliance executives, as well as existing investors Hyperplane Venture Capital, MassMutual Ventures, First Ascent Ventures participated in the round.

LinkSquares is a web application designed to help legal and finance teams work smarter. The AI-powered contract repository automatically finds and extracts key terms and meta-data from contracts and provides key insights with deep search, custom reporting, and analytics. LinkSquares saves high-growth companies hundreds of hours and thousands of dollars by eliminating manual contract review and the need for outside counsel.