Eastward Capital Partners has closed a venture debt facility with Pramata, a San Francisco-based enterprise contract intelligence platform. The size of the facility was not disclosed.
Pramata, which has been operating for around 20 years, extracts structured data from commercial contracts, including amendments, order forms and statements of work, using human-in-the-loop AI. The company has alliances with Bain & Company and Deloitte.
Proceeds will support go-to-market acceleration and further investment in enterprise AI accuracy after Pramata's 2023 technology re-platforming. Eastward described the facility as non-dilutive growth capital.
The facility follows a $10 million Series A in December 2015, led by Volition Capital with Argosy Capital and Peninsula Ventures participating.
Founded in 1994 and based in Boston, Eastward provides venture debt and equity to venture-backed technology companies. The firm said it has partnered with more than 270 companies.