WillItSurvive
Accounting, tax and business software · subsidiary of Thoma Bravo · United States

Conga

conga.com ↗

Contract lifecycle management and quote-to-cash software built on Salesforce.

Losing its protection
Assessed 22 July 2026 · Evidence as of 22 July 2026
The structural protection is eroding.
On the recordSince 22 July 2026 · Checkable from 2027 · Every call on the record Checkpoint: 2027 Gartner Magic Quadrant rankings for CLM and CPQ
The call

Conga has a large, sticky customer base but is losing ground on AI features and getting squeezed by Salesforce and Workday at the same time.

Conga makes software that helps sales teams and legal departments manage contracts and quotes inside Salesforce, the big sales platform. It has real customers (over 10,000) and real revenue, which gives it some staying power. But Conga is in trouble because Salesforce itself is building similar tools directly into its platform, Workday bought a competitor called Evisort and launched Workday CLM, and DocuSign is also competing hard. Meanwhile, artificial intelligence can now do much of what Conga does like writing contract language, finding risky clauses, and answering questions about documents, and Conga's own AI is weaker than what Icertis offers. The company is owned by a private equity firm and may survive the next few years, but unless it finds a buyer or goes public soon, there is no clear path to growing the value of an investment.

Why
01
AI pressure: Icertis AI, DocuSign Intelligent Agreement Management. AI drafts, reads, and negotiates contracts directly; Conga's own AiMe trails Icertis in independent rankings. Could AI do the core job? Only partly.
02
Bigger players: Salesforce (native CPQ/Revenue Cloud), Workday (Evisort/Workday CLM). Salesforce owns the platform Conga depends on and sells a competing CPQ; Workday bought Evisort and ships its own CLM. Could a giant copy it? Yes, easily.
03
What protects it. Deep Salesforce-native integration across 10,000+ customers and 7 million contracts a year makes ripping Conga out costly.
What would change this call
2027 Gartner Magic Quadrant placements for Conga in CLM and CPQ. Whether Conga regains Leader status or keeps slipping versus Icertis, DocuSign, Workday.
Win/loss reports or customer announcements naming Workday CLM or DocuSign IAM replacing Conga. Direct evidence of installed-base or new-logo losses to named rivals.
News of Conga IPO filing or secondary-market valuation above ~$595M. Whether PE ownership path produces an exit or valuation uplift.
Key numbers
  • $198.2M-$530.4M ARR estimates diverge widely (2026-06)
  • Valuation ~$595M, down from ~$1.3B peak (2025-12)
  • 10,000+ customers, 6.4M users (2026-02)
Named risks
  • Core document generation and contract Q&A workflows are highly exposed to generic LLM substitution. Severity: high
  • Conga's own AI rated below Icertis in third-party G2 comparisons of text analytics. Severity: medium
  • Mid-integration of PROS B2B acquisition alongside leadership transitions flagged as stability concern in employee sentiment data, May 2026. Severity: medium
  • Demotion to Challenger in 2026 Gartner CPQ Magic Quadrant signals competitive erosion versus native Salesforce CPQ and rivals. Severity: medium
  • Revenue figures diverge wildly across trackers ($198.2M vs $530.4M), indicating opaque financial reporting typical of PE-owned private firms. Severity: low
Rivals, as read in July 2026
RivalDirectionEvidence
Icertislosing to6sense share data shows Icertis at 2.66% vs Conga 2.13% in CLM, ranked 10th vs 12th
Workday CLM (Evisort)gaining onWorkday absorbed Evisort into Workday CLM, directly competing for enterprise contract lifecycle deals
DocuSign IAMcontestingDocuSign's Intelligent Agreement Management targets same document generation and contract AI workflows
Salesforce native CPQlosing toConga's CPQ shifted to Challenger status in 2026 Gartner CPQ Magic Quadrant per BuiltIn, 2026-05-25
SAP AribacontestingSAP embeds CLM functionality into source-to-pay via Ariba, competing on enterprise procurement contracts
Questions people ask
Is Conga profitable in 2026?
Conga is private and does not disclose profitability. Third-party estimates put ARR near $198.2M as of December 2025 per Latka, while ZoomInfo cites $530.4M revenue as of June 2026, with no public profit figures available.
Who owns Conga?
Conga is majority owned by private equity firm Thoma Bravo, which took a controlling stake in predecessor Apttus in September 2018. It remains privately held with no IPO, and completed a Thoma Bravo-brokered acquisition of PROS B2B business on February 2, 2026.
Could AI replace Conga's contract software?
Conga's core workflows, document generation, clause extraction, and contract Q&A, are prime targets for generative AI substitution. Third-party G2 comparisons rate Conga's own AI text analytics below rival Icertis, though Conga shipped its own Q&A Agent and Search Agent by February 2026.
Is Conga laying off employees in 2026?
No layoffs are documented in available sources. Headcount trackers show growth: Crustdata reports 2,151 employees by July 2026 (11.3% YoY increase), though BuiltIn's May 2026 profile cites a lower 1,468 figure, indicating source discrepancy rather than confirmed cuts.
Who is Conga's biggest competitor?
In CLM, Icertis leads Conga per 6sense share data (2.66% vs 2.13%, undated snapshot). In CPQ, Conga reportedly dropped to Challenger status in the 2026 Gartner Magic Quadrant, while Salesforce's native CPQ and Workday CLM (via Evisort) also compete directly.
What is Conga's current valuation?
Third-party tracker Latka estimated Conga's valuation at approximately $594.7 million as of December 2025, well below Apttus's historical peak valuation of roughly $1.3 billion reached in 2016 before the Thoma Bravo buyout.
Timeline
  • 2026-06-16Discovery Agent (formerly Discovery AI) updated for document classification
  • 2026-03-23Conga named Leader in 2026 Gartner MQ for B2B Pricing and Rebate Optimization
  • 2026-03-14AiMe agentic AI layer unveiled at Conga Connect 2026 in Orlando
  • 2026-03-10Kevin Pawsey named CTO and Nikki Brewer named CPO
  • 2026-02-04Q&A Agent and Search Agent deployed in Conga CLM
  • 2026-02-02Conga completed acquisition of PROS B2B business from Thoma Bravo
  • 2026-02-01Conga launched availability on Microsoft Azure Marketplace
  • 2025-10-01Conga announced intent to acquire PROS B2B business
  • 2025-04-01Dave Osborne appointed CEO of Conga
  • 2020-05-01Apttus acquired Conga for ~$715M, later took Conga name
Revision history
22 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
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