Ontra

Ontra is a legal technology company founded in San Francisco in 2014 by Troy Pospisil, who still leads it as chief executive, and it traded as InCloudCounsel until a rebrand in 2021. The company is independent and venture-backed, counting Battery Ventures and Blackstone among its investors. It operates from San Francisco with additional offices in London and Hong Kong serving European and Asia Pacific clients.

The business began by combining software with a managed network of lawyers to process high-volume private markets paperwork such as non-disclosure agreements and side letters, then moved upmarket into automated contract, obligation and entity management across the fund lifecycle. Battery Ventures led a $40 million Series A in 2019, Blackstone anchored a $200 million round in 2021 that accompanied the rebrand to Ontra, and Silicon Valley Bank provided $70 million of financing in June 2025.

Ontra at a glance:

• Founded: Founded in 2014 by Troy Pospisil, who remains chief executive; the company traded as InCloudCounsel until its 2021 rebrand to Ontra.
• Headquarters: San Francisco, California, with international offices in London, United Kingdom, and Hong Kong covering European and Asia Pacific clients.
• Ownership: Independent and venture-backed; investors include Battery Ventures and Blackstone, with additional financing provided by Silicon Valley Bank in June 2025.
• Legal Technology Portfolio: Sells Ontra, a private markets legal platform spanning contract automation, obligation management, entity management and diligence workflows.
• Market Focus: Private capital markets: general partners, private equity and credit funds, investment banks, advisers and their law firms, rather than general corporate legal departments.

What legal teams should know: Ontra is a specialist rather than a general legal operations vendor, and its value depends on a buyer holding high volumes of repetitive private markets agreements. Legal departments outside asset management will find the fit poor. The company is founder-led and independent, though substantial outside capital from Battery Ventures and Blackstone is a factor to weigh on multi-year terms.