Despite its success, Ironclad faces competition in the $3 billion contract lifecycle management industry from major players like DocuSign and emerging ones like Contractbook. The company recently announced Ironclad Signature, marking its entry into the $25 billion eSignature market. The new feature speeds up the signature process by an estimated 80% and provides summaries and approval histories to users. This new tool is expected to strengthen Ironclad's position in the sell-side contract lifecycle management market.

Additionally, Ironclad introduced value-based pricing, charging only for completed, signed agreements, unlike other providers who charge for every signature packet sent out. Ironclad, backed by investors like Accel, Sequoia, Y Combinator, and BOND, remains committed to innovating and maintaining its leadership in the contract lifecycle management space.