AXDRAFT

AXDRAFT, An Onit Company is an American contract management software company that makes legal technology for lawyers, legal teams, and other specialists who are involved in contract management. AXDRAFT is a privately held company headquartered in Houston,Texas. In December 2020, it was acquired by Onit, Inc. As of 2022, AXDRAFT has offices in Houston, New York, Frankfurt, Kyiv, and Lviv.

Among its core products, AXDRAFT offers a contract lifecycle management platform, a self-service documentation platform, and a free startup documentation service.

Since its founding, AXDRAFT has received numerous awards: Best Corporate-Startup Collaboration in 2020 from Ukraine Innovation Awards. Document Management Platform of the Year in 2020 from LegalTech Breakthrough Awards, a Bronze Stevie in 2022 from The Stevie Awards and a Gold Globee in 2022 from American Best in Business Awards.

AXDRAFT was founded in 2017 by Yuriy and Oleg Zaremba in Kyiv, Ukraine. The impetus for starting the company came from Yuriy, who was a practicing real estate lawyer at the time. Yuriy’s desire was to reduce routine contract work, so he reached out to his brother Oleg, who was a senior software developer at Booking at the time, for help with some of the technical aspects.

Originally, AXDRAFT was a side project for the both of them, but as the company grew, it began to demand more of their attention. Ultimately, the brothers left their jobs to focus further developing the company.

Some of AXDRAFT's clients include British American Tobacco, Carlsberg, Glovo, Louis Dreyfus Company, Slack, Nestle, and OLX.

In 2019, AXDRAFT was accepted to the Y Combinator accelerator program and raised $1.1 million while reaching a valuation of $10M.

In 2020, AXDRAFT began to experiment with using GPT-3 to translate documents and simplify legal language. On December 17, 2020, Onit, Inc., a software company that provides enterprise workflow software, artificial intelligence platforms, and business process automation, announced that it had completed the acquisition of AXDRAFT.

In 2021, AXDRAFT was listed as one of the year’s 22 best document management companies and startups. AXDRAFT also partnered with OneNDA on contract standardization and self-service document automation.