Ontra is an AI-powered legal technology platform focused on contract automation and compliance for private markets. It targets private equity firms, asset managers, and investment banks that process high volumes of routine legal work. The platform pairs AI trained on contract data with optional human legal support to handle tasks like NDA negotiation, entity management, and due diligence responses.
Private markets firms often rely on spreadsheets, slide decks, and outside counsel to negotiate routine contracts, track fund obligations, and answer investor questionnaires. This decentralized approach drives up legal spend, creates key-person risk, and slows deal timelines. Ontra was built to replace these manual workflows with structured, digital processes.
The platform is organized into separate products: Accord for in-house contract negotiation, Insight for Funds and Insight for Credit for obligation tracking, Atlas for entity management, and a DDQ product for investor questionnaires. Each product digitizes documents, extracts clauses or covenants, and builds firm-specific playbooks that guide AI-suggested markups and responses. Ontra also offers an optional Legal Network of freelance lawyers for outsourced contract negotiation.
According to current figures on Ontra’s website, the platform is used by more than 1,000 private markets firms and has processed over 2 million documents. Ontra reports that 9 of the top 10 PEI-ranked private equity firms use its platform, alongside a 96 percent customer retention rate among firms using it for at least a year.
Pricing
Ontra’s Contract Automation product is sold in three editions. The Standard Edition has no monthly minimum fee and uses qualified contract professionals rather than lawyers. The Advanced and Premier editions both carry a $2,000 monthly minimum fee, with Premier assigning lawyers who have top-tier firm or extensive Ontra experience. Turnaround is based on business days, with some document types taking up to 48 hours unless a firm pays for expedited processing. Free trials are available for all three editions, and pricing for Accord, Atlas, Insight for Funds, Insight for Credit, DDQ, and KYC services is quote-based through a demo request.
* Disclaimer: Please note that pricing information may not be up to date. For the most accurate and current pricing details, refer to the official website.
Key Features
-
✓
AI extraction and categorization of clauses from fund agreements
-
✓
Digital playbooks for preferred and fallback negotiation positions
-
✓
AI-suggested contract markups based on precedent and playbooks
-
✓
Multi-owner task workflows for SEC and investor obligations
-
✓
Searchable precedent library built from past DDQ responses
-
✓
Automated entity structure charts from ownership and capitalization data
Use Cases
Routine NDA Negotiation
A firm receiving high volumes of buy- and sell-side NDAs routes them through Accord’s AI-suggested markups. Responses are standardized against a custom playbook, cutting back-and-forth with counterparties and reducing outside counsel spend.
Tracking Fund Obligations
An asset manager digitizes side letters and LPAs with Insight for Funds, turning them into assignable tasks. This creates audit-ready logs for SEC exams and removes manual spreadsheet tracking.
Modernizing Entity Management
A private equity firm consolidates entity data scattered across folders and slide decks into Atlas. The centralized repository reduces key-person risk and generates structure charts automatically.
Automating Investor Due Diligence
A fund manager uploads an incoming DDQ, and Ontra’s AI extracts questions and suggests answers from a precedent library. Subject matter experts review and approve responses rather than drafting from scratch.
Managing Credit Agreements
A credit team abstracts and digitizes loan documents with Insight for Credit. Teams can search and compare covenant terms instead of manually reading hundreds of pages.
Digital MFN Elections
A general partner distributes Most Favored Nation election forms through Insight for Funds during fundraising. Investor selections are tracked digitally, and obligations update automatically based on elections made.
Strengths & Weaknesses
Strengths
Built specifically for the workflows of private capital markets rather than general legal work.
Combines proprietary AI with a network of legal professionals for outsourced negotiation.
Consolidates siloed spreadsheets and PDFs into searchable, centralized dashboards.
Reduces reliance on outside counsel for routine document review and negotiation.
Adopted by 9 of the top 10 PEI-ranked private equity firms globally.
Weaknesses
Standard turnaround for some document types runs up to 48 hours unless expedited.
Expedited processing carries an additional cost on top of the base plan.
The Advanced and Premier editions require a $2,000 monthly minimum fee.
The Standard Edition lacks unlimited playbook customization found in higher tiers.
Who Is This For?
Private equity and venture capital firms handling high volumes of NDAs and complex side letters across multiple funds.
Investment banks that need consistent, faster processing of routine contracts to maintain deal momentum.
Fund compliance and operations teams that need audit-ready logs for SEC exams and MFN tracking.
In-house legal counsel looking to offload routine contract negotiation to focus on strategic work.
Frequently Asked Questions
Does Ontra offer a free plan?
There is no free-forever plan. The Standard Edition of Contract Automation has no monthly minimum fee, and free trials exist for Standard, Advanced, and Premier editions.
What is the monthly minimum fee for Ontra’s contract services?
Advanced and Premier editions require a $2,000 monthly minimum. The Standard Edition has no monthly minimum but uses contract professionals rather than lawyers.
How long does contract processing take?
Turnaround is based on business days, with some document types taking up to 48 hours. Expedited 24-hour processing is available for an additional cost.
Who negotiates the contracts if I use the outsourced service?
Depending on the tier, contracts are handled by qualified contract professionals or by lawyers with top-tier firm experience.
Does Ontra offer an API for integrations?
Yes. A standard API package is included in software licenses, such as the Atlas annual license, to connect Ontra data with internal systems.
Can Ontra help with entity management?
Yes. The Atlas product stores governance information in a centralized repository and generates entity structure charts automatically.
Does Ontra support Most Favored Nation elections?
Yes. Insight for Funds includes digital MFN election and disclosure tools that track limited partner selections and update obligations.
Who is Ontra built for?
Ontra targets private equity firms, asset managers, and investment banks, not general small businesses or consumer legal needs.
How large is Ontra’s customer base?
Ontra reports more than 1,000 private markets firms as customers and says 9 of the top 10 PEI-ranked firms use its platform.
What happens if a deal is urgent and turnaround time matters?
Firms can pay for expedited processing to get a 24-hour return, since the standard turnaround for some documents can run to 48 hours.
Ontra includes a standard API package in certain software licenses, such as Atlas, for connecting Ontra data to internal systems. No specific public third-party software integrations are detailed on Ontra’s website beyond this API offering.