SAN FRANCISCO, CA (June 10, 2025) – Edgewater Strategy Group (“Edgewater”), a boutique advisory firm specializing in M&A, capital raises and Office of the CFO services, today announced that it served as Office of the CFO partner to Ontra, the San Francisco-based provider of AI-powered legal and compliance software for private markets firms, supporting the company’s finance team across engagements from November 2023 into 2025.
Founded in 2014 as InCloudCounsel by Troy Pospisil, who remains Chief Executive Officer, and renamed Ontra in 2021, the company automates the repetitive legal and compliance work that runs through the life of a private fund. Its software pairs AI models with a network of legal professionals to take on recurring work such as negotiating NDAs, tracking obligations across fund agreements and side letters, and digitizing entity records. Ontra reports more than 850 customers worldwide, spanning private markets managers, investment banks and law firms. Today, Ontra separately announced $70 million in new financing from Silicon Valley Bank, a division of First Citizens Bank, to speed up development of AI-powered tools for due diligence questionnaires, know-your-customer reviews and contract negotiation; Ontra’s announcement is available here.
Edgewater worked as an extension of Ontra’s finance team in engagements led by Managing Partner Hawken Lord. Its Office of the CFO team supported the development of the company’s 2024 and 2025 annual budgets alongside management, modeled sales commission plans, supported cash flow planning and provided strategic finance analysis to Ontra’s leadership.
“Ontra has taken some of the most manual work in private markets, from NDAs to side letters and fund obligations, and turned it into software used by more than 850 firms. Growth on that scale needs a plan that ties every hire, every dollar and every sales incentive to the revenue it is meant to drive. Our role was to give Troy and the finance team a budget, a commission framework and a view of cash they could plan against. It was a privilege to work alongside them.”
Hawken LordManaging Partner, Edgewater Strategy Group
About Ontra
Ontra builds AI-powered legal technology for private markets. Its platform automates contract negotiation, manages obligations under fund agreements and side letters, digitizes entity management and supports investor due diligence and KYC workflows across the fund lifecycle for private markets managers, banks and law firms around the world. For more information, visit ontra.ai.
About Edgewater Strategy Group
Edgewater Strategy Group is a boutique advisory firm specializing in Mergers and Acquisitions, Capital Raises, and Office of the CFO services. Edgewater works as an extension of its clients’ deal and finance teams, from sourcing and diligence through close and post-close integration. For more information, visit edgewaterstrategygroup.com.
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