Agiloft, a Redwood City based contract lifecycle management company backed by KKR, FTV Capital and JMI Equity, has launched Astra, a new artificial intelligence powered contract analytics platform aimed at giving businesses free access to enterprise grade contract intelligence tools. The company said the initiative was designed to remove the financial and operational barriers that have traditionally prevented many organisations from adopting advanced contract management systems.
The company explained that despite the proven efficiency and return on investment associated with contract analytics technology, many firms still rely on manual reviews and instinct driven negotiations because of the high cost of implementation and lengthy procurement processes. According to industry findings cited by Agiloft, organisations lose an average of nine per cent of annual revenue to poor contract management, while global contract value leakage is estimated at about $2tn yearly. The company argued that poor visibility into agreements, missed renewals and unchecked compliance obligations continue to create major financial exposure for businesses across sectors.
Agiloft stated that Astra was developed to simplify access to contract intelligence by allowing teams to analyse agreements, identify risk exposure and review vendor obligations without requiring upfront payment or long deployment cycles. The platform also enables users to ask plain language questions about contracts and receive structured answers within seconds. According to the firm, Astra can flag liability risks, identify unusual contract clauses, monitor renewal deadlines and support AI assisted contract reviews, helping organisations accelerate negotiations and reduce delays in approval processes.
The company further stressed that data protection remains central to the platform’s operations, noting that information uploaded by users would not be used to train external AI models. Agiloft maintained that free tier users would receive the same level of protection as enterprise customers under what it described as the “Astra Clean Data Promise.” The launch comes amid rising global adoption of artificial intelligence in legal and contract management services, with the AI contract management market projected to expand significantly over the next decade as organisations seek faster and more efficient ways to manage commercial agreements.