Agiloft Launches AI Trainer to Empower Non-Technical Users

Agiloft, calling itself the global standard in agile contract lifecycle management (CLM), announced the release of AI Trainer, a powerful, new AI model training capability that will empower non-technical users to fully customize the way they review and analyze contracts. Designed to be a force multiplier for legal and contract teams, AI Trainer empowers non-technical, subject matter experts to train Agiloft’s AI to identify important key terms and clauses, so they can quickly analyze and draw actionable insights from their contracts, then share that business-critical intelligence with the rest of their organization to drive real enterprise value. Agiloft’s AI Trainer also actively accelerates its own training process by continuously learning and then auto-suggesting additional relevant data for users to consider tagging.

“No two contracts are quite alike, nor are any two organizations. That is why relying on pre-trained, generic AI models alone … … weiterlesen

The Contract Network Announces $8M in Seed Funding

The Contract Network, an AI-powered contract collaboration platform, announced that it has raised $8M in Seed funding. The round was led by Tusk Venture Partners, with participation from Andrew Sieja (Founder of Relativity), The Legal Tech Fund, Mayo Clinic, Toba Capital, and GC&H Investments, an investment fund associated with Cooley LLP. The platform helps accelerate dealmaking by increasing the speed of the contract negotiation process.

Launched earlier this year, The Contract Network’s platform parses out contracts into their individual clauses, turning agreements into “data from the first draft,” and uses generative AI to provide context and market insights for each change and redline. Stakeholders can collaborate on contracts in real-time and with full visibility into every change that is made with AI-powered translation from legal jargon to plain language. The Contract Network works in concert with existing Contract Lifecycle Management (CLM) platforms and … … weiterlesen

Filevine Launches ImmigrationAI to Simplify Paperwork

Filevine, the most powerful immigration case management software on the market, recently announced the launch of ImmigrationAI, a new tool that deploys artificial intelligence (AI) to help law firms streamline their immigration operations and simplify the immigration application process for their clients. ImmigrationAI joins Filevine’s other AI features, including AIFields and DemandsAI.

Utilizing existing case information stored in Filevine, ImmigrationAI extracts key data points from various documents such as licenses and passports, assists in completing USCIS forms, and tracks form statuses. Immigration attorneys and their clients not only benefit from AI-powered document scanning and automated form fill, unique to Filevine, but also application support via a questionnaire available in 170 languages and question guides to ensure completion. 

The existing process for filing immigration paperwork is complex and time-consuming, but with ImmigrationAI by Filevine, assembling documentation, completing forms, and tracking progress … … weiterlesen

LexisNexis Acquires Case Law Analytics

LexisNexis announced the acquisition of Case Law Analytics, a French legaltech company specializing in the modeling of legal risk using artificial intelligence.

Created in 2017, Case Law Analytics has developed a legal risk assessment solution based on a rigorous analysis of legal texts and the use of artificial intelligence and probabilistic models. The solution makes it possible to simulate the possible outcomes of litigation proceedings in more than twenty legal areas covering civil law, business law, social law. It provides valuable assistance in defining the best strategy to adopt to resolve a dispute, and easily find the case law closest to the case in question to better defend it. According to LexisNexis, the company now supports 6,000 users, within insurance companies, law firms, legal departments and human resources.

Eric Bonnet-Maes, CEO LexisNexis Continental Europe, … … weiterlesen

LexisNexis Collaborates with Microsoft on Product Integrations and Generative AI Capabilities

LexisNexis Legal & Professional, a leading global provider of information and analytics, announced the integration of AI-powered solutions with Microsoft 365. Both companies are also working on solutions integrating Microsoft Azure OpenAI, built on a long-standing relationship and experience working with AI and large language models, and previously announced plans for incorporating generative AI into its products.

These integrated products – Lexis+®, Lexis® Connect, Lexis® Create, and Lexis®Create Plugin with Microsoft 365 Copilot – provide legal professionals with intelligent, AI-powered tools, enhanced capabilities, and more efficient, guided workflow experiences where they already work the most: Microsoft Outlook, Word, and Teams. Additionally, LexisNexis is focused on enhancing its use of GPT-powered technology with Azure OpenAI Service which has already been rolled out to customers via Lexis+.

 “Microsoft and LexisNexis have a long history of collaboration, and we’re excited about how our Microsoft-integrated products will help improve the lives and … … weiterlesen

Everlaw Unveils AI Assistant Powered by Generative AI

Everlaw, the cloud-native investigation and litigation platform, announced its EverlawAI portfolio with newly released generative AI features available in a beta program to give legal teams an instant leg-up in text-based work and greater productivity across legal workflows within its trusted and highly secure platform.

Everlaw unveiled three videos to outline the news and add greater context. 

Litigation requires legal teams to summarize complex documents and thread together facts from hundreds and even thousands of sources. Research shows drafting motions or briefs is one of the most time-consuming tasks for litigators, requiring on average more than 20 hours of work per month. Shortening the time to create written materials and summarize complex documents promises greater efficiency and productivity across the $ 950 billion global legal services market.

Not only does EverlawAI Assistant deliver speed in writing drafts, its AI insights are also tightly integrated throughout the Everlaw … … weiterlesen

rightmart Group schließt Series B-Finanzierung in Höhe von 27,5 Mio. EUR ab

Die rightmart Group, einer der führenden Legal Tech-Anbieter für Verbraucherrechtslösungen, sichert sich 27,5 Mio. EUR – und schließt damit die bisher größte Series B-Finanzierung für Legal Tech-Unternehmen mit Verbraucherfokus in Deutschland erfolgreich ab. Diese wurde von zwei strategischen Investoren getragen: dem Rechtsschutzversicherer KS/AUXILIA, der bereits in der vorherigen Series A-Finanzierungsrunde investierte, sowie der LVM Versicherung, die als neuer Investor an Bord ist. Beide Investoren verfolgen langfristige Pläne, rightmart gemeinsam mit den Gründern aufzubauen. Der Vollzug steht noch unter dem Vorbehalt der Freigabe des Bundeskartellamts.

Finanzierung markiert Start einer Konsolidierungsstrategie

Seit ihrer Gründung 2016 verzeichnet die rightmart Group ein organisches Wachstum von durchschnittlich 60 % pro Jahr. Um dieses Wachstum weiter zu beschleunigen und Skaleneffekte zu maximieren, hat das Unternehmen die Series B- Finanzierungsrunde eingeleitet. Die Finanzierungsrunde soll nicht nur das organische Wachstum von rightmart unterstützen, sondern markiert auch den Start einer Konsolidierungsstrategie für den Verbraucherrechtsmarkt. So … … weiterlesen

Knowliah Announces Strategic Acquisition by STP Group

Knowliah, a leading European provider of Enterprise Legal Management solutions, announced that it has been acquired by STP Group, a leading provider of complete legal-tech solutions for lawyers, insolvency administrators, notaries and legal departments based in Karlsruhe, Germany. This strategic move underscores Knowliah’s and STP’s commitment to international expansion and solidifies their position as a key player in the legal tech industry.

Knowliah has garnered recognition as a trailblazer in legal tech, specializing in process optimization and communication within legal departments. By effectively managing operational and legal processes and streamlining document-related tasks, Knowliah’s AI-powered SaaS platform has revolutionized the way businesses operate. According to Knowliah, Gartner has acknowledged the company as an innovative enterprise legal management vendor, with its solutions trusted by more than 25,000 users across 25 countries, including esteemed companies such as Schindler, Allnex, Daikin, MSC, and Geely.

The acquisition by … … weiterlesen

Hogan Lovells Launches Own Legal Tech Brand ELTEMATE

Global law firm Hogan Lovells announced the launch of ELTEMATE, a new Hogan Lovells technology brand. 

ELTEMATE will unify the firm’s legal technology offerings under one core global team to help provide clients with high end, digital solutions to address challenges in all areas of law.

Moving forward, the ELTEMATE brand will house and develop Legal Tech and AI solutions. Other products include smart databases, e-discovery tools, deal rooms, apps, and legal tech consulting services. ELTEMATE works closely with legal teams and will be home to AI experts and software engineers. In this regard, it will not only bundle third party solutions, but also develop its own, proprietary software. For example, the team has developed a new, cutting-edge AI tool, which enables clients to navigate the ever-changing landscape of regulatory developments by streamlining the review and processing of … … weiterlesen

Thomson Reuters Signs Definitive Agreement to Acquire Casetext

Thomson Reuters Corporation, a global content and technology company, announced it has signed a definitive agreement to acquire Casetext, a California-based provider of technology for legal professionals, for $650 million cash.

The proposed transaction will complement Thomson Reuters existing AI roadmap and builds on its recent initiatives, including a commitment to invest more than $100 million annually on AI capabilities, the development of new generative AI experiences across its product suite, as well as a new plugin with Microsoft and Microsoft 365 Copilot for legal professionals.

Founded in 2013, Casetext uses advanced AI and machine learning to build technology for legal professionals, creating solutions that help them work more efficiently and provide higher-quality representation to more clients. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments.  

Casetext was granted early access to OpenAI’s GPT-4 large language model, allowing it to … … weiterlesen

Aderant Introduces AI-Powered Virtual Associate MADDI

Aderant, a leading global provider of legal business management solutions, announced the introduction of MADDI, a revolutionary new AI-powered virtual associate that is being applied across the company’s applications and is intuitively designed to not only automate routine, repeatable tasks but enable actionable insights and behavioral prompts to optimize complex activities across the firm. MADDI brings calm to the growing chaos of billing and matter management by harnessing the power of AI through automation and predicted activities to streamline manual processes and solve firms’ biggest challenges.

MADDI is pre-trained on an extensive body of knowledge from several Aderant applications, requiring minimal experiential training from law firms, and ensures quick time-to-value with a continuous learning path. MADDI is the powerful engine behind the recently launched Onyx, a breakthrough solution that fully automates and unifies outside counsel guidelines (OCG) compliance across time, billing, and e-billing. MADDI is … … weiterlesen

UC Law’s LexLab Announces New Justice Tech Startup Program

LexLab, a center at UC Law San Francisco that focuses on law, technology, and innovation, is joining forces with gener8torVillage Capital, and the Justice Technology Association for a groundbreaking accelerator program supporting justice tech startups, according to a June 8 news release.

Launched in 2019, LexLab has worked with over 100 entrepreneurs to hone their offerings and is recognized as a leader in accelerating legal technology startups.

There is a huge need to increase the availability and quality of legal services and tools in both the criminal and civil justice systems,” said Drew Amerson, director of LexLab. “We’re thrilled to be partnering with these amazing organizations in welcoming justice tech startups to the UC Law SF community, giving our students an opportunity to work with entrepreneurs committed to addressing the … … weiterlesen

Lexion Raises $20M Series B Allowing the Company to Expand AI-Powered Contract Management Solution

Lexion, the AI-powered contract management and operations workflow platform, announced a $20 million Series B funding round led by Point72 Ventures, with participation from Citi Ventures, and existing investors Khosla Ventures, Madrona Venture Group, and Wilson Sonsini. This latest investment brings the total amount raised to more than $35 million, allowing the company to further enhance Lexion’s core platform and AI capabilities to help every department close deals faster.

Originally developed at the Paul Allen Institute for Artificial Intelligence as a contract management system for lawyers, Lexion’s artificial intelligence and automation capabilities have accelerated legal work and streamlined processes across multiple disciplines, including sales, procurement, finance, and technology.

Gaurav Oberoi, CEO of Lexion, explains how the new funding will be used to accelerate Lexion’s AI landscape: “Lexion is all about helping every team do more business, faster. We’ve … … weiterlesen

TPG to Acquire Majority Stake in Thomson Reuters Elite

TPG and Thomson Reuters announced that they have signed a definitive agreement for TPG to acquire a majority stake in Elite from Thomson Reuters, valuing the business at approximately US$500 million. The Elite business provides financial and practice management solutions to the world’s leading law firms, helping customers automate and streamline critical finance and accounting workflows.

The transaction will enable Elite to operate with greater focus, providing additional resources and expertise to accelerate growth and better support its customers as they digitally transform to meet the evolving needs of their clients. Upon closing of the transaction, TPG Capital, TPG’s U.S. and European late-stage private equity business, will become the majority shareholder of the standalone business. Thomson Reuters will retain a minority ownership stake in the business and have board representation, supporting Elite strategically going forward.

“We feel strongly … … weiterlesen

Slaughter and May Pilots AI Transcription Tool Designed for Legal Sector

The international law firm Slaughter and May will pilot the JUST: Access proprietary AI large language model, part of a suite of transcription tools.

The language model, developed in conjunction with leading academics with the help of Innovate UK, was created by transcribing hundreds of hours of court audio using the very latest in Natural Language Processing, ChatGPT and Machine Learning.

Just: Access is a leader in speech to text transcription technology for the legal and regulatory sector. Its aim is to deliver market-leading accuracy, searchability and efficiencies around legal information to lawyers, such as those at Slaughter and May.

Frustrated by the cost and accessibility of legal transcripts, founder Sophie Walker, a practising barrister herself, developed JUST: Access as an AI transcription platform with … … weiterlesen

Registration for CodeX Future Law is Open

On April 13, 2023, CodeX – The Stanford Center for Legal Informatics, hosts its eleventh annual conference focusing on the way technology is changing the legal profession and the law itself, and the way these changes affect us all.

CodeX FutureLaw brings together the academics, entrepreneurs, lawyers, investors, policymakers, and engineers spearheading the tech-driven transformation of our legal system. Join for a unique educational event and an opportunity to connect and exchange ideas with legal tech innovators from around the world. 

At CodeX, researchers and entrepreneurs design technologies for a better legal system; CodeX’s mission is to create legal technology that empowers all parties.

This year, speakers will cover the topics Court Process Automation, Government Relationship Management, NLP Technologies, Aligning AI with Humans, Blockchain, Crypto, and more.

You can register here.

For more information, visit … weiterlesen

ContractPodAi Introduced New AI Assistant ‘Leah’

ContractPodAi, the award-winning AI-powered, contract lifecycle management (CLM) platform, announced the launch of Leah, its new AI services hub that is aimed to be a generational shift in the way CLM is delivered.

With the new release, ContractPodAi also shares its AI Best Practice framework as the underlying value-based principles steering the innovation and design of the AI technology to drive smarter, faster, and more predictive outcomes for customers. The three core values of the framework include:

  • Following precedents and standardized processes and not “re-inventing the wheel” in contract negotiations with existing vendors and customers
  • Measuring contract performance across core business functions and using real time benchmarking analytics with cohort trends to improve performance of contract management function
  • Using AI technology in an ethical and responsible manner to drive better outcomes for businesses and their ecosystem stakeholders

“We are excited to share the next generation … … weiterlesen

Marketingstrategie für juristische Dienstleister

von Su Reiter

Innerhalb der letzten 20 Jahre ist das Thema Online Marketing für verschiedene Branchen zu einer Top-Priorität geworden. Auch die Rechtsbranche passt sich immer mehr an das digitale Zeitalter an. Für viele juristischen Dienstleister ist klar: Rechtsprodukte sind nicht nur eine lukrative Einnahmequelle, sondern erleichtern Ratsuchenden den Zugang zum Recht. 

Warum Kanzleien und juristische SaaS-Unternehmen dabei auf eine Marketingstrategie setzen sollten und worum es dabei konkret geht, erklärt Content Marketing-Expertin Su Reiter in diesem Fachartikel zum Thema.

Beratung vs. Software: Die Rechtsbranche verändert sich

Der Dienstleistungssektor hat sich in den letzten Jahren grundlegend verändert: Während es früher ausschließlich darum ging, klassische Beratungsleistungen anzubieten, entwickeln innovative Startups und moderne Kanzleien mittlerweile eine Vielzahl von verselbstständigten Rechtsprodukten, die sich durch eine gezielte Marketingstrategie verbreiten lassen.

Der Bedarf an Rechtstools ist so hoch, dass der Begriff „AGB-Generator“ allein in Deutschland fast 2.000 Suchanfragen … … weiterlesen

Impacts of SVB’s Crisis on Startups

Silicon Valley Bank (SVB) has been a pillar of support for startups in the tech industry, providing them with financial resources, guidance, and networking opportunities. However, the bank is currently facing a crisis that could have significant implications for startups such as legal tech startups in Silicon Valley and beyond.

What happened?

Startups had parked large deposits at the bank in recent years, but now had to liquidate them faster than expected in light of rising interest rates. To be able to continue to provide customers with money, the bank had to sell bonds which brought losses because of recent price drops on the bond market. Then, the bank wanted to raise liquid funds via an emergency capital raise. But the attempt to raise fresh money from investors by issuing new shares caused further uncertainty.

What are the remedies? 

… weiterlesen

Casetext Unveils CoCounsel, a AI Legal Assistant Powered by OpenAI Technology

Legal AI company Casetext unveiled CoCounsel, the company’s first AI legal assistant. CoCounsel leverages the latest, most advanced large language model from OpenAI, which Casetext has customized for legal practice, to expertly perform the skills most valuable to legal professionals.

“Our AI legal assistant is the first of its kind,” said Jake Heller, co-founder and CEO of Casetext. “It creates a momentous opportunity for attorneys to delegate tasks like legal research, document review, deposition preparation, and contract analysis to an AI, freeing them to focus on the most impactful aspects of their practice.”

CoCounsel introduces a groundbreaking way of interacting with legal technology. For the first time, lawyers can reliably delegate substantive, complex work to an AI assistant — just as they would to a legal professional — and trust the results.

“Casetext has transformed … … weiterlesen

Microsoft plans to invest $10 billion in ChatGPT

Chat GPT, the latest language model tool, has been making waves since its release last month by OpenAI. The tool allows users to have conversations with a chatbot that can understand natural language and respond in a way that mimics human speech patterns. The app can answer questions, write poems, and even explain quantum physics, but experts say that a full AI takeover is not imminent.

The chatbot is powered by large amounts of data and complex algorithms that make predictions about how words should be strung together in a meaningful way. They not only tap into a vast vocabulary and information but also understand words in context. This helps them mimic speech patterns while dispatching encyclopedic knowledge.

According to sources familiar with the matter, Microsoft is in talks to invest $10 billion into OpenAI, the company behind … … weiterlesen

Litigation Analytics Platform Pre/Dicta Acquires Gavelytics

Pre/Dicta, claiming itself the only litigation analytics platform that makes predictions about the outcome of federal lawsuits, announced the acquisition of Gavelytics, a pioneering judicial analytics platform for state court cases.

The purchase, the terms of which were not disclosed, dramatically shortens Pre/Dicta’s timeline for creating a tool that offers instant and accurate predictions for state courts across the country.

“Pre/Dicta created what I always dreamed of for Gavelytics; a litigation analytics platform that was forward-looking rather than backward-looking, that could make predictions and not just provide generic descriptive statistics,” said Gavelytics founder Rick Merrill, who is joining Pre/Dicta as its strategic advisor.

According to Pre/Dicta, Gavelytics was a market leader in litigation analytics for state courts, where 95% of all cases heard in the U.S. take place. Launched in California in 2017, the company expanded its … … weiterlesen

LexCheck Secures $17M in Series A Funding to Expand Its AI-Based Contract Review Technology

LexCheck, a leading AI-powered contract acceleration and intelligence platform, announced it has raised $17M in Series A funding led by Mayfield Fund. The funding will fuel the expansion of LexCheck’s contract review technology as it helps businesses accelerate growth by unlocking legal talent. 

This funding comes on the heels of a significant period of growth for LexCheck. The company has tripled its customer base in the last year. LexCheck has seen success with customers across more than 14 different industries, including some of the world’s largest financial institutions, fastest-growing technology providers and top law firms. 
“One of the biggest opportunities for businesses today is to minimize the inevitable friction caused by increased specialization and expectations to scale. The ability to accelerate revenue and actualize on business decisions typically delayed by prolonged negotiations is … … weiterlesen

You Can’t Have Legal GRC Optimisation Without Data Management Improvement

– By Nick Rich, Head of Corporate Engagement UK&I at Exterro

Effective data management is no longer an optional extra, but a fundamental part of organisational strategies. Good data analysis allows companies to make informed decisions and create reality-based plans. From enhanced customer experiences to streamlined administrative operations, effective analysis is key to identifying areas for improvement and innovation – and analysis depends on data management.

However, while it’s easy to get caught up in the opportunities data offers, organisations must tread with caution. If captured, kept, or used wrongly, data can end up doing more harm than good.

Typically, more data leads to more risk. With each rise in the amount of information an organisation acquires, the more expensive and difficult it is to store and manage it safely, heightening administrative burdens and costs. Equally, it becomes harder for firms to achieve best practices across … … weiterlesen

AI Contract Review Software Provider LegalOn Announces Expansion into the US

LegalOn Technologies (“LegalOn”), a legal technology company and AI contract review software provider from Japan, announced its expansion into the United States, the largest legal market in the world, and the appointment of Daniel Lewis as US CEO.

“LegalOn has built the world’s leading AI contract review solution for in-house teams and law firms and we are excited to bring our unique solution to the US,” says Nozomu Tsunoda, CEO. “We have over 3,000 customers, a team of 400 employees, $101m in recent fundraising, and now we’ve added an experienced executive, Daniel Lewis, to lead our US expansion.”

Daniel Lewis joins LegalOn as US CEO after five years at LexisNexis leading practical guidance businesses serving 100k+ attorneys. He previously founded and led Ravel Law, a legal analytics software company.

“One of the biggest challenges that general counsel and in-house teams face is … … weiterlesen

Terzo Raises $16M in Series A Funding for AI-Powered Contract Intelligence

Contract management platform Terzo raised $16M in Series A funding led by Align Ventures with participation from TYH Ventures, Engage Ventures, Human Capital and other. The company is also welcoming world-known entrepreneurs as angel investors, including Ryan Breslow (Founder & Chairman of Bolt) and Daniel Saks (Co-founder & President of AppDirect). 

“Terzo is tackling a $6 trillion problem that almost every organization faces. Most companies do not have an effective contract management system in place which leads to inefficiencies like overspend. Terzo has developed a much needed unique enterprise platform to empower the buy side. We chose to back Terzo from the start as they have the team, vision and product needed to completely change how companies manage their contracts and enterprise relationships.” said Neel Chary, Partner at Align Ventures.

Terzo is a contract intelligence software powered by a AI-as-a-Service model. Terzo … … weiterlesen

Ireland’s Legal Tech Conference Will Take Place on 29th November

La Touche Training, Ireland’s Legal Training company, announced the Legal Tech Conference 2022, taking place on 29th November in Croke Park, Dublin, Ireland. The Legal Tech Conference is a well-known event for all things related to legal technology and eDiscovery in Ireland and globally. The conference gathers law firms, government departments, corporates, general counsel, in-house lawyers, regulatory agencies, eDiscovery providers, advisors and much more for an enlightening day focusing on best practices and the latest trends and developments.

On the agenda:

Keynote Address by Justice Leonie Reynolds

How embracing technology can make discovery and investigations more cost effective – an update from the Civil Justice Review Group

Cyber Incidents & Managing Risk in Investigations with Pat Ryan MSc – Detective Superintendent – Garda National Cyber Crime Bureau and Jon Blake MBCS – Cyber & Internet Investigator

  • Current Cybercrime Landscape
  • How the GNCCB investigate cybercrime
  • The rise of ransomware attacks
  • Reporting – Why Report & Obligations
  • Risks to … … weiterlesen

CLM Provider SirionLabs Announced Acquisition of Zendoc

SirionLabs, a global leader in AI-powered contract lifecycle management (CLM), announced the acquisition of contract automation platform Zendoc. With this expansion Sirion aims to further enhance its commitment to the application of AI in CLM. Through the Zendoc acquisition, SirionLabs is also establishing a Center of Excellence (CoE) in Nice, France, located in the region known as the European Silicon Valley, as stated by SirionLabs.

This new European CoE joins a recently established Sirion CoE in Toronto as the company continues to scale up just months after its $85 million Series D funding round in May led by Partners Group. 

“The war for talent is global, and we’re thrilled to be adding such skilled professionals to the Sirion team as well as gaining a foothold in a key region for tech development,” … weiterlesen

Legal Innovation from the Startup Nation – ELTACON22 in Tel Aviv

The European Legal Tech Association (ELTA) Annual Legal Tech Conference will take place in Tel Aviv this year. Join ELTA for the main event on November 29, 2022, for a day of legal tech, networking and fun. Following the day of the conference, there will be an optional start-up nation tour of companies in Tel Aviv.

With over 500 members, ELTA encourages a dialogue between legal technology users and developers. With regular in-person and online events ELTA strives to promote networking at a European level between all those who share an interest in legal technology.

Check out this year’s agenda on ELTACON’s website! The conference will be all about AI, Legal Tech Strategies, entrepreneurial decisions regarding the implementation of legal tech, Law Firms and New Law Companies, the future of legal tech, and – of course – networking.

… weiterlesen

CLM Platform Summize Secures £5M Series A Investment

Manchester-based contract lifecycle management platform provider Summize has secured £5m Series A investment from YFM Equity Partners (YFM) and Maven Capital Partners (Maven), as it looks to build its presence in the US and further develop its intelligent SaaS legal technology. 

Founded in 2018, Summize has experienced rapid growth by taking a disruptive approach to a traditional sector. Its world-first integrated contract lifecycle management (CLM) software is uniquely designed to make contract workflows smarter and up to 85 per cent faster by digitising and automating manual legal processes. The solution integrates into the daily life of any business via established platforms including Teams and Slack, improving collaboration between in-house legal and business users.  

Summize has more than 100 businesses worldwide on its platform, including Fujifilm, Everton FC, NCC Group, … … weiterlesen

Legal Innovators UK 3.0 is Just Around the Corner – And We Got Free Tickets for You!

After two incredible shows in London, Artificial Lawyer and Cosmonauts will host Legal Innovators UK this year again – bringing you the best in Legal Tech in London! Legal Innovators UK will take place on the 10th and 11th of November 2022 at the stunning etc. venues St. Pauls. Focused on the intersection between technology and law, Legal Innovators is for everyone interested in innovation.

If you, dear reader, are thinking about buying a ticket last minute to attend the event, we got you covered with one of five free tickets for Legal Innovators UK! Just use our code ‘LEGALTECHBLOG‘ in the check-out process when buying the ticket online; and if you are fast enough, you will be one of our five lucky readers who get their ticket free.

About the Event

With day one of the two-day event … … weiterlesen

Contractify and ClauseBase Join Forces to Offer a Complete Contract Lifecycle Solution

Ghent-based scale-up Contractify is already working with numerous partners to optimize their contract management software. Contractify’s goal is to offer their clients a solution that allows them to manage the entire contract lifecycle in one place. For the first phase in this cycle, contract creation, they have now joined forces with Leuven-based legal software platform ClauseBase

Who is Contractify?

Steven Debrauwere and Herlinde De Buck started Contractify in 2015. In the meantime, the ambitious company has grown into a leading software supplier for contract management. The cloud software helps companies centralize, manage and sign all contracts in one secure contract library. The platform prevents unwanted automatic extensions and speeds up the signing of contracts with customizable signing and approval flows. With the help of Ada, an AI-powered contract assistant, the company also aims to improve the speed of contract digitization and analysis. 

… weiterlesen

Shearman & Sterling Launches Legal Operations Offering

Global law firm Shearman & Sterling announced the launch of Legal Operations by Shearman, a new offering designed to meet the evolving people, process and technology needs of in-house law departments. The new offering is focused on embedding tools, techniques and behaviors as part of the firm’s commitment to finding innovative and efficient legal solutions and service delivery for its clients’ business needs.

Legal Operations by Shearman will initially offer services in five key areas:

  • Knowledge Management: Supporting improved capture of tacit and explicit knowledge.
  • Process Improvement: Identifying processes in need of improvement and supporting the design of new processes.
  • Legal Technology: Identifying the most relevant technologies to support efficient ways of working.
  • Business Intelligence: Supporting law departments in making the most of the data at their disposal, including through data visualization and analysis.
  • Training & Development: Supporting the … … weiterlesen

Online Dispute Resolution, Cybersecurity, and A Vault at ILTACON – An Interview with Mike Schuman, CSTO of Immediation

Mike Schuman

Immediation, founded in 2017, offers a holistic end-to-end dispute resolution platform for case intake, management, collaboration, secure digital hearings and insights. Today, the enterprise claims to provide the world’s most secure and specialized digital legal environment for dispute resolution, justice, and legal practice. We sat for a chat with Mike Schuman, CSTO of Immediation – the one who keeps an eye on cybersecurity, privacy, and risk – about Immediation’s purpose, cybersecurity, ‘the vault’ at ILTACON 2022, and the potential of online dispute resolution. Read on to find out what Mike Schuman told us.

LTB: Mr. Schuman, what is the purpose of Immediation’s tools and solutions?

M. Schuman: Ultimately, Immediation’s purpose can be summed up in three words: Speed to Resolution. As the ‘gold standard’ online dispute resolution platform, Immediation provides greater access to justice, alternative dispute … … weiterlesen

Legal Tech Funding in 2022 – Head in the Clouds, Feet on the Ground

By Shayan Edalati and Jan Gilarowski

Over the last two decades, Cloud-based software has revolutionized the way we build, buy and use software. Few areas are untouched and the cloud is becoming the leading technology. This is true for the legal tech products as well. With the fast adoption came unprecedented growth for the vendors: Over the last years, cloud companies have grown faster than any other industry. And with it, valuations. But recent events have brought a stop to what has been a bonanza not only for the leading SaaS players, but also cloud-based legal tech companies’ valuations.      

What happened to the funding environment?

In recent years a variety of factors gave the tech industry a boost: liberal monetary policies made tech’s long-term growth more attractive to investors while the TINA-situation (“there is no alternative”) turned a former niche-market into a shareholder darling. Tech stocks heavily benefitted from the coronavirus pandemic elevating life and work online. Additionally, with several growth funds fuelling the ecosystem … … weiterlesen

Cleary Gottlieb Officially Launched ClearyX

Cleary Gottlieb officially launched ClearyX, its platform for highly efficient AI and data-driven legal services, in June, and it has now announced its roster of Advisory Board members.

ClearyX is a tech-forward platform dedicated to reimagining how legal services can be delivered. By drawing on the insights and experience of these legal and business leaders, ClearyX’s services will closely align with client needs to address a broad range of issues.

“Following on the heels of our successful launch earlier this year, it’s exciting to reach another milestone in the life of ClearyX with the establishment of our Advisory Board,” said Cleary Managing Partner Michael Gerstenzang. “We are honored to have such an accomplished group of individuals, who bring great diversity of experience and perspectives, collaborating with us on this new venture. It is a testament not only to the progress … … weiterlesen

Legal Innovators UK 3.0 – Join us on 10th and 11th of November 2022!

After two incredible shows in London, Legal Tech news site Artificial Lawyer and Cosmonauts, a first in service B2B conference producer and business development organisation, are proud to present Legal Innovators UK 3.0 – bringing you the best in Legal Tech in London! Legal Innovators UK will take place on the 10th and 11th of November 2022 at the stunning etc. venues St. Pauls.

Focused on the intersection between technology and law, Legal Innovators is for everyone interested in innovation. With day one focused on law firms and legal services businesses, and how they are driving innovation and the second day focusing on innovation amongst in-house legal teams and legal ops professionals, Legal Innovators UK will become host to incredible Legal Tech providers alongside industry leading speakers and presenters to offer you the chance to facilitate change in the sector.

Legal Innovators UK is about the real-life experiences of … … weiterlesen

New Future Ready Lawyer Survey Finds Increasing Pressures on Legal Professionals as Pace of Change, Compliance Complexity and Talent Challenges Climb

The increasing complexity of compliance, new client expectations, talent challenges and productivity demands are pressuring legal professionals as never before, according to the findings of Wolters Kluwer’s new global Future Ready Lawyer Survey 2022. The survey also finds that more progress is needed as most legal professionals say they are not well- prepared to address key challenges and opportunities.

Challenged to keep up with emerging trends and escalating demands, legal professionals are increasingly turning to legal technology for help. Across Europe and the U.S., the investment and demand for legal tech solutions have accelerated, with technology now firmly at the center of improved performance, productivity, client-firm relations and talent expectations. According to survey findings:

  • 91% of corporate legal departments are expecting their law firms to fully leverage technology.
  • More than 80% of lawyers say it’s of high importance to them to work for a tech-savvy law firm or … … weiterlesen

The Bavarian Ministry of Justice and UnternehmerTUM Establish the “Legal Tech Colab“

(German version below)

Innovative momentum from Bavaria: The Free State of Bavaria, Germany, continues to invest in the Hightech Agenda and wants to take a leading position in the legal tech sector with a new support network for legal tech startups. On the initiative of the Bavarian Minister of Justice, Georg Eisenreich, the Bavarian Ministry of Justice and UnternehmerTUM have established the “Legal Tech Colab”. The Bavarian Ministry of Justice is funding the initiative with up to one million euros per year.

Bavaria’s Minister of Justice, Georg Eisenreich: “Also for legal disputes and legal services: People want convenient, simple and cost-effective solutions. Therefore, Legal tech is currently experiencing a strong boost. We want to take advantage of the opportunities of digitization and become a leading legal tech hub. That’s why I’m very pleased that we can give the starting signal for our ‘Legal Tech Colab’ … … weiterlesen

Contractify Launches AI Colleague for Contract Administration

The scale-up Contractify introduces its new AI feature, called Ada, to the general public today. Ada helps companies to register contracts three times faster and is therefore revolutionary for contract management. Contractify, as a Belgian scale-up, is now at the level of large international players when it comes to the use of AI. To highlight the time-saving AI feature, the company also gives all their employees an extra day off. 

Who is Contractify?

Steven Debrauwere and Herlinde De Buck started Contractify in 2015. As consultants, they began to help companies better manage their contracts. It soon became clear that no software was adequate for both their own needs as consultants and those of the customer. So they decided to take matters into their own hands and develop their own contract management tool, completely … … weiterlesen

ILTACON 2022 Reunited Visionaries, Lawyers, Legal Tech Enthusiasts, and Enterprises Successfully Again

This year’s ILTACON, organized by the International Legal Technology Association (ILTA), finally took place in-person again in National Harbor, Maryland USA, for over four days. More than 70 educational sessions, a well-staffed exhibition hall and plenty of networking opportunities made the 42nd ILTACON a successful event.

After kicking off ILTACON on August 21, the event gained momentum on August 22 with company updates from Thomson Reuters, Litera, and Microsoft, among others, as well as educational sessions on various topics related to legal tech. In addition, the Exhibit Hall was opened where many legal tech providers, other technology companies, and legal databases presented themselves, their products, and services. Attendees got plenty of time and space to network with each other and the company delegates, not only in the exhibit hall but also at lunch sessions, coffee breaks, and a cocktail party. This broad … … weiterlesen

Global Legal Forum 2022 – December 1st and 2nd in The Hague

Join the Global Legal Forum (GLF) at The Hague on December 1st and 2nd, 2022! The event brings together the whole legal industry, legal tech, blockchain and global legal practitioners, academics and GCs redefining the global legal industry.

GLF stated that this year over 500 of the most influential people in the Legal Industry will be coming to The Hague, with Partners, CEOs, Judges, General Counsels, Arbitrators, Law Ministries and Legal Policy Makers from around the world as well as some of the most promising legal technology firms, game changing companies in Law and innovators of law and justice systems among them.

This years conference will be structured in nine main tracks: Blockchain, Technology for Legal Industry, Dispute Resolution, Future of Law, Emerging Practice – Cannabis Law, Artificial Intelligence, Legal Education, Mediation, and Access to Justice.

If you strive for learning from … … weiterlesen

Immediation Raises Additional AUD$5 Million  from Institutional and Sophisticated Investors

Immediation, labelling itself the world’s leading digital dispute resolution provider, announced it has received AUD$5 million (USD$3.5 million) in further funding from a consortium of institutional and private investors, managed by Euroz Hartleys. This AUD$5 million comprised the second tranche of an $8.5M raising.  Immediation has now secured four institutional investors on its register, including Thorney Technologies, SG Hiscock, Wunala Capital, and Perennial Private Investments, the private capital business of major Australian investment management company, Perennial Partners. 

The capital will be used to continue the Company’s rapid expansion in the U.S. and EMEA markets and grow its global sales force to meet growing demand for its purpose-built legal technology.

“To secure this new funding in this market is a huge endorsement of our rapid expansion into new markets, leading technology and business plan,” said Laura Keily, … … weiterlesen

LexFusion Selects DISCO as E-Discovery Partner

LexFusion, a go-to-market collective of leading legal innovation companies, announced its selection of DISCO, a leader in AI-enabled legal technology, as its e-discovery partner. DISCO stated that the partnership will help accelerate digital transformation for corporations and law firms as the industry continues to embrace next-generation technology to reduce risk, enhance compliance, control costs, and ultimately, deliver better outcomes.

Joe Borstein, LexFusion Chief Executive Officer, said: “As legal professionals scale service-delivery capabilities, taking full advantage of the latest advances in technology is foundational. We must embrace new tools as we collectively confront a new wave of litigation, investigations, and information governance challenges in an increasingly complex landscape that is once again making ediscovery a focal point for meeting the legal needs of the enterprise.”

“DISCO stands apart in empowering legal teams to filter out the noise, focus faster … … weiterlesen

LexisNexis Has Acquired Caselex

LexisNexis has acquired the merger control intelligence provider Caselex. This acquisition stands in line with LexisNexis’ recent strategy comprehending the acquisitions of Parley Pro and Closd as well as the partnership with Josef.

LexisNexis told ArtificialLawyer that the acquisition is part of an “ongoing commitment to provide one place where lawyers can get the legal intelligence they need to advise their clients” and that with Caselex, LexisNexis can now offer “competition lawyers a truly integrated and differentiated suite of offerings”.

Caselex’ Netherlands-based core-team consists of six people, supported by about 40 editors, each having a background in competition law. Caselex declares to be the leader in merger control information, offering insight into market definitions. They have developed a client base consisting of over 100 leading national and international … … weiterlesen

ContractPodAI’s oneDPA Is Now Freely Available

ContractPodAi, provider of the AI-powered contract lifecycle management (CLM) product and ‘One Legal Platform’, announced that oneDPA, a standardized open-source data processing agreement, created in partnership with PwC UK and the greater Claustack Community, is now freely available.

With ever-changing data protection regulations across the globe, it is increasingly challenging and time-consuming for legal teams to keep up with changes. In response, the Claustack community came together to create a standardized DPA which takes into account data protection laws in various jurisdictions to ensure it’s globally applicable.

On participating in the oneDPA SteerCo, Darryl Chiang, Director, Legal, at Google said: “I wanted to be a part of the growing community of lawyers championing open-source contracts as the key to a better future where a broad … … weiterlesen

Legal Tech Spotlight #1 – Lawcus, the Legal Practice Management Software

by Shayan Edalati

In legal tech it’s hard to find an all-encompassing solution that meets the needs of law firms from lead generation to matter management. Many of the platforms that claim to be all-encompassing are often offered by large corporate players who have acquired various SaaS platforms and connected through them in awkward and haphazard integrations. Unsurprisingly, these often don’t work effectively.

More commonly, lawyers and firms must resort to buying various platforms to meet their needs. This practice leads to excess costs and the real possibility of solutions not integrating. For those wanting to create a custom integration, costs will be higher still while the practicality of the integration is not certain. 

Entering the current state of legal tech is Lawcus. Lawcus is an intuitive, workflow-focused law practice management software that’s especially useful for productivity focused law firms with well-defined systems and processes. It’s an … … weiterlesen

Della Expands into German Market

Hengeler Mueller adopts and rolls out Della’s cutting edge, multilingual, AI technology across the firm.

Leading international law firm, Hengeler Mueller, has selected and begun a firm-wide roll out of Della’s unique, multilingual, artificial intelligence (AI) driven contract analytics platform. The partnership will accelerate Hengeler Mueller’s contract review processes, and further expand the firm’s legal tech strategy of providing outstanding, up to date working practices, which allow their teams to focus on offering high-end legal advisory services.

Teams across the firm are now using Della to accelerate the review of a wide variety of legal documents. Using Della’s technology to make rapid initial project assessments and track and aggregate due diligence information. Significantly increasing the efficiency of exchanging information and giving Hengeler Mueller’s lawyers the freedom to devote their full attention to assessing complex legal issues.

… weiterlesen

New Study Uncovers Untapped Potential for Legal Departments to Positively Impact Revenue Growth and Operational Efficiency

The Enterprise Legal Reputation (ELR) Report also finds Legal can directly contribute to the growth of its businesses by increasing revenue and improving sales negotiations with greater automation  — powered by the combination of AI and Contract Lifecycle Management (CLM).

Onit, the leading provider of enterprise workflow solutions including enterprise legal management and contract lifecycle management, released chapter two of its Enterprise Legal Reputation (ELR) Report, a multinational study spotlighting the image enterprise employees have of their legal departments, the way legal professionals see their interactions with internal clients, and the material impact Legal can have on its businesses — from revenue generation and operational efficiency to innovation and corporate culture.

In January, Onit commissioned Provoke Insights, a New York City-based market research firm, to conduct a study of 4,000 enterprise employees and 500 corporate legal professionals across the United States, United … … weiterlesen

Legal Innovators UK on 10th and 11th of November 2022

After two incredible shows in London, Artificial Lawyer, a leading Legal Tech news site and Cosmonauts, a first in service B2B conference producer and business development organisation, are proud to present Legal Innovators UK 3.0 – to bring you the best in Legal Tech in London. Legal Innovators UK will take place on the 10th and 11th of November 2022 at the etc. venues St. Pauls.

Focused on the intersection between technology and law, Legal Innovators is for everyone interested in innovation. Legal Innovators is the conference driving change in the legal sector through people, processes and technology.

The event is about the real-life experiences of the people working at the cutting edge of solving their firm’s and their clients’ challenges through innovation. The latest Legal Tech, such as AI and automation, is a central part of this. But, people and process are vital too, and this conference will be focused on all three pillars … … weiterlesen

United for Ukraine and BRYTER Connect Displaced People with Lawyers

NGO United for Ukraine (UfU), information and assistance provider for temporarily displaced people by the war in Ukraine, and BRYTER, the no-code automation platform, have teamed up to provide fast and accurate services to refugees. These efforts are supported by the International Rescue Committee and a Fellowship.

More than 14 million people have fled their homes since Russia’s invasion of Ukraine. The UN Refugee Agency says that as of May 27, 6.7 million refugees have left Ukraine for neighboring countries, while eight million people are displaced inside the war-torn country itself. The demand for informed decisions, safe housing, humanitarian support, and legal advice has been rising day by day. 

“To provide Ukrainians with legal aid, we were able to obtain support from 200 lawyers just by the … … weiterlesen

The Vital Role of Managing E-Discovery

By Shawn Arnold and Clayton Romero, co-founders, CodexTen

E-Discovery is a critical process that begins at the onset of litigated matters and involves the exchange of information between parties involved in a lawsuit or other legal action.

All Discovery is E-Discovery 

Since the 1500’s when English Law codified discovery, today, all discovery is e-discovery. “eDiscovery” is merely the extension of the well-established discovery process to any Electronically Stored Information (ESI) that an organization might possess – email messages, voicemails, presentations, word processing files, spreadsheets, social media posts and all other relevant communication or information that might be useful in a legal action. The amount of electronic information attached to cases today can be mind boggling.

Whether your firm is working on a smaller case to a headline-grabbing global legal action, firms cannot ignore the importance of eDiscovery. In fact, a 2013 white paper by Osterman Research, Inc. 1 stated … … weiterlesen

LegalForce Raises $101M in Series D Led by SoftBank, Goldman Sachs and Sequoia Capital

LegalForce Inc., a Japan-based provider of the contract review platform LegalForce and the AI-enabled contract management suite LegalForce Cabinet, announced to have received a $101 million fundraise in a series D round led by the SoftBank Vision Fund, Goldman Sachs and Sequoia Capital.

The funds will be invested in accelerating recruitment, research and development, and sales and marketing  in order to realize the company’s mission of managing “all contract risks anytime, anywhere”.

Kentaro Matsui, Managing Partner at SoftBank Investment Advisers said: “Facing a shortage of lawyers and increasing pressure for operational efficiencies, corporations and law firms in Japan are seeking innovative solutions to support their legal operations. Through its software platform, LegalForce uses AI and machine learning to support the end-to-end lifecycle of contract management, thereby reducing workload and improving the accuracy of contract reviews. We … … weiterlesen

Clausematch Closes US$10.8 M Strategic Investment Round

Clausematch announced the close of a US$10.8M strategic funding round led by Lytical Ventures and joined by Flashpoint and Sony Innovation Fund. The new financing will be used to increase the company’s commercial activities in the US and invest in its product, technology and data science teams. The new funds bring the total investment to date to over US$20M.

Clausematch is a financial technology company that provides a software-as-a-service platform for smart management of compliance documents and processes, enabling regulated companies to meet compliance obligations. According to Clausematch, since its last funding, its team has made numerous advancements to its product offering and launched a new core module, Policy Portal, which has been adopted by all of Clausematch’s biggest clients. Policy Portal … … weiterlesen

“Hier wird endlich eine Mauer eingerissen, die bisher viele vom Gründen in Deutschland abgehalten hat”

(English version below)

Ein Interview mit Christian Manthey – Gründer und CEO von – über das DiRUG.

In diesem Sommer soll das DiRUG – das Gesetz zur Umsetzung der Digitalisierungsrichtlinie – in Deutschland in Kraft treten. Durch dieses Gesetz sollen etwa die Online-Gründung der GmbH sowie weitere Online-Verfahren für Registeranmeldungen bei Kapitalgesellschaften ermöglicht, neue Regelungen zur Offenlegung von Registerinformationen getroffen und der europäische grenzüberschreitende Informationsaustausch, insbesondere bezüglich Registersachen, verbessert werden. Wir haben mit Christian Manthey, Gründer und CEO von, über das neue Gesetz, dessen praktische Folgen, das Geschäftsmodell seines Unternehmens sowie die Zukunft eines digitalisierten Gesellschaftsrechts gesprochen. ist ein in Deutschland führendes Unternehmen, wenn es um die Unterstützung von Startups in der Gründungsphase und die Entbürokratisierung der Gesellschaftsgründung geht. Dabei hat sich auf die Fahne geschrieben: Firmengründung … … weiterlesen

Syntheia Acquires Motionize

Syntheia, a contract and data startup, has acquired Motionize, another startup which offers a Word add-in that improves access to knowledge and provides drafting guidance to transactional lawyers.

The move to acquire the business first started in April 2022, after the two companies had been collaborating for the six months prior. The acquisition process took about a month, and completed on 31 May 2022.

Following this acquisition, Syntheia will be offering four distinct products:

  • an intelligent drafting recommender that surfaces precedent clauses while inside Microsoft Word,
  • a multi-document terms comparer that identifies variances and risks between contracts,
  • a self-sorting clause bank for knowledge management of contracts, and
  • a suite of data extraction and natural language processing APIs for legal documents.

Horace Wu, Founder and CEO of Syntheia said:

“We are … … weiterlesen

4th Legal Innovation Challenge Took Place in Stuttgart

Deutsche Version unten / German version below

The Legal Innovation Challenge took place for the 4th time from May 20-22 in Stuttgart. In this innovation format, more than 40 talents from the southern German region developed digital solutions in interdisciplinary teams from law, business & IT based on practical problems of law firms.

Each of the five participating law firms – Ebner Stolz, Oppenländer, Menold Bezler, Lutz Abel and Thümmel, Schütze & Partner – submitted a problem (“Challenge”) for the event. These challenges ranged from supply chain law and ransomware attacks to whistleblowing, social selection, and an Open Source Companion.

In the course of agile development of a Minimum Viable Product (MVP) and a digital business model, the teams applied client-centric innovation methodologies. The teams were supported by coaches from … weiterlesen

Deloitte Spinout Arteria AI Announced Strategic Investment Lead by Citi

Arteria AI, a Deloitte spinout and leading enterprise in digital documentation, announced it has received strategic investments from Citi SPRINT (Spread Products Investment Technologies), the strategic investing arm of Citi’s Global Spread Products division, and BDC Capital

Arteria’s software has been deployed at global financial institutions to deliver fast and accurate documentation experiences to clients, while lowering the cost and risk of doing business. Arteria uses artificial intelligence and a data-first approach on its mission to make documentation processes frictionless.

Arteria includes a series of product modules that can be used to help draft, negotiate and analyze documentation and contracts. Unlike other CLM platforms, Arteria claims to be built to the specific requirements of the institutional banking and trading sector. It aims to deliver efficiencies … … weiterlesen

The 2022 In-House Legal Tech Report Is Released

While corporate legal departments are still trying to shake the reputation of being slow to modernize, adapt, and adopt new technology, a recent study commissioned by ContractWorks paints a very different picture of today’s modern legal professionals. 

This new study, carried out by international research agency Censuswide, reveals key trends from 350 in-house legal professionals from the United States and the United Kingdom. General counsel, in-house lawyers, and other members of the legal department share insight on the lasting impacts of the Covid-19 Pandemic on the legal workforce and their personal experiences and preferences about work style, legal technologies, and their employers.

According to ContractWorks, research shows that legal tech adoption is on the rise, and that when in-house lawyers adopt the right solutions, the results can be transformative for … … weiterlesen

DiliTrust Raises €130M to Accelerate Its Growth Internationally

DiliTrust, a France-based provider of SaaS solutions for legal departments, is bringing together a consortium of investors with Cathay Capital, Eurazeo and Sagard. The €130m heavy investment will enable DiliTrust to accelerate its growth, both organically and through acquisitions, and to support its innovation, and international expansion. The company also plans to carry out a significant recruitment initiative over the next twelve months. 

According to DiliTrust, the SaaS provider is a leader in France, Canada, Italy, Spain, and Morocco and is present in nearly 50 countries in Europe, North America, Latin America, the Middle East and Africa. To address the increasing complexity and workload of legal departments, the company proposes the DiliTrust Governance Suite, which aims to significantly simplify operations.

This investment is a recognition of DiliTrust’s performance and reinforces its … … weiterlesen

CLM Platform Provider SirionLabs Announced $85M Series D Funding

AI-powered contract lifecycle management (CLM) platform provider SirionLabs announced a fresh round of $85 million in Series D funding led by Partners Group acting on behalf of its clients, with participation from existing investors Avatar Growth Capital, Sequoia Capital India and Tiger Global. This brings the total raised by SirionLabs to $157 million – a significant milestone for the company as it more than doubles the company’s capitalization. The investment will enable SirionLabs to continue expanding its position in the rapidly growing enterprise CLM market, which is projected to reach $3.3 billion by 2027.

The two biggest challenges in CLM are aligning post-award performance with contract terms and automating the import of legacy documents using AI,said Ajay Agrawal, Co-founder and CEO of SirionLabs. “The SirionOne platform has a … … weiterlesen

Contract Intelligence Platform Evisort Announced $100M Capital Raise

No-code contract intelligence platform Evisort announced it has raised $100 million in capital, including equity and venture debt financing. This latest round of funding is led by global growth investor TCV, a key investor in Airbnb, LinkedIn, Netflix, and other market-defining companies. TCV General Partner Amol Helekar will join the Evisort board of directors. This financing round includes participation by Breyer Capital and all major existing investors, including General Atlantic, Microsoft’s venture capital fund M12, Amity Ventures, and Vertex Ventures.

Every time an organization buys, sells, hires, or otherwise transacts, it creates a contractual data layer. We created Evisort because it is absolutely critical for organizations to easily access and manage this data inside their contracts. We … … weiterlesen

LexisNexis Announces Acquisition of CLM Solution Parley Pro

LexisNexis Legal & Professional, a leading global provider of information and analytics, announced the acquisition of Parley Pro, a Contract Lifecycle Management (CLM) solution and contract automation software provider, to complement LexisNexis’ Enterprise Legal Management (ELM) platform, CounselLink.

Founded in 2015, Parley Pro enables contract request, drafting, negotiation, signature, and post-signature management via a secure, cloud-based platform. AI-powered and easy to use, Parley Pro offers simultaneous collaboration, context-aware integration, and end-to-end contract process automation. In addition to that, Parley Pro gives corporate legal departments visibility into their entire portfolio of contracts in progress, with predictive and actionable analytics to help inform data-driven business decisions and unite organizations around contracts.

Parley Pro’s CLM capabilities provide the critical third pillar—in addition to Legal Spend and Matter Management—to strengthen our already robust CounselLink platform,said Sean Fitzpatrick, CEO, LexisNexis UK and North America. … … weiterlesen

Deloitte Legal and Contractify Join Forces to Create a CLM Solution

Deloitte Legal and Contractify have built an affordable end-to-end contract lifecycle management solution for the Belgian legal market, connecting Contractify’s contract management software to Legau, Deloitte Legal’s contract automation software. Deloitte Legal will add its legal and paralegal expertise to the solution to support clients to streamline their processes in order to fully experience all the benefits that Contractify and Legau offer.

Jan Roggen, Director of Legal Managed Services at Deloitte Legal, stated“Talking with clients in Belgium, we noticed that they struggle with finding a reliable, yet affordable, solution for contract management with limited implementation costs. We recognised that Contractify is a great, cost-efficient and reliable partner for many clients, and we are excited to combine forces to change the way legal services are delivered.”

Through this partnership, Contractify and Deloitte Legal aim to provide a one-stop-shop for Belgian legal departments looking … … weiterlesen

Athennian Raises $33m to Promote Its Entity Management Technology

Cloud-based business entity management technology company, Athennian, announced that it has raised $33 Million in its Series B round, led by Centana Growth Partners with participation from existing investors Arthur Ventures, Touchdown Ventures, and several private investors.

Founded in 2017, Athennian’s software enables legal, tax and finance teams to digitise and manage their business entities and company structures. Athennian has developed cloud-based legal tech used by law firms, legal departments, and professional services firms to automate subsidiary and entity management, transforming compliance, governance, and transactional workflows. The data collected on its platform covers a wide range of services, including compliance, ownership, and digital signatures.

We’re excited about this new investment round as it will help us support more clients and meet the increasing need for digital automation and corporate transparency demands required by governments … … weiterlesen

This Weekend: Global Legal Hackathon 2022

The Global Legal Hackathon, the world’s largest technology innovation event and learning laboratory for the legal industry, will open the #GLH2022 competition on March 25-27, 2022. Thousands of legal professionals, software developers, designers, and businesses will come together for one purpose: rapid development of solutions to improve the legal industry.

Returning for its fourth year, #GLH2022 is expected to surpass previous years, with over 100 host cities and 10,000 participants expected from around the globe, tapping into the creative energy of a legal industry that is experiencing accelerated innovation as a consequence of the pandemic.

Starting on Friday evening and continuing until Sunday evening, teams will develop new technology solutions to “business of law” and “access to justice” problems, and compete to be selected as winners in their respective cities and progress to the global semi-finals. Finalists will then be invited … … weiterlesen

Linklaters Partners with BRYTER

Global law firm Linklaters has partnered with the no-code automation platform provider BRYTER on a series of global initiatives to accelerate the delivery of legal advice and other services to clients in new and innovative ways. The partnership, which is being led by newly appointed Global Head of Practice Innovation, Greg Baker, and the firm’s global practice innovation team, has already delivered a number of client solutions and continues to look for potential areas for digitization across the firm’s global practice areas on key legal and regulatory topics.

Extending across various areas of delivery, the partnership is aiding the development of client-facing technology, the improvement of internal workflows and the provision of pro bono support offered to local and global communities.

Greg Baker, Global Head of Practice Innovation, commented“As we continue … … weiterlesen

Thirdfort Secures £15M Series A Funding

Thirdfort, the anti-money laundering (AML) and know your customer (KYC) technology provider for the legal sector, has secured £15M in a series A funding round.

Since January 2020, Thirdfort grew from a team of 10 with 30 business clients and one industry partner to an enterprise with 100 “Thirdforters”, 700 business clients, and 15 industry partners who have integrated Thirdfort. Now, Thirdfort has taken it’s first institutional investment from Breega and Element Ventures.

With recent events bringing into sharp focus the importance of spotting and preventing money laundering and other fraud, Olly Thornton-Berry, Managing Director & Co-Founder, sympathises with professionals who are trying to protect their businesses and clients while facing a tidal wave of increasing regulation and fraud risk.

According to Thornton-Berry, client ID verification, source of funds confirmation (guilty until proven innocent) and client funds transfer … … weiterlesen

Legaltech Startup Josef Launches in the US

After successfully launching in the UK and Europe in 2021, Australian-founded legaltech startup Josef has announced their launch into the United States. The software company provides a no-code platform for attorneys and legal professionals to automate tasks, including lawyer-client interactions, sending emails, generating legal documents and providing legal guidance and advice. 

With a mission of transforming the way legal services are delivered, Josef makes life easier for all involved by automating repetitive work for attorneys, and streamlining service delivery for clients. 

With a US team on the ground, Josef can better serve existing US customers, and continue to expand their already-global services and products into new teams and new territories. Josef’s founding team have confirmed that their US plans have always been central to their long-term goals.

Since my time studying at Columbia Law School, I have had a deep respect for … … weiterlesen

New Report by Wolters Kluwer and ECLA: Legal Departments on the Move

Wolters Kluwer and the European Company Lawyers Association (ECLA) have released an in-depth overview of the state of digitalization in a new report Legal Departments on the Move, offering insights into how legal departments have responded to recent challenges and key issues they are facing. The report is based on a comprehensive survey into the corporate legal profession, conducted in the second half of 2021, with data from more than 500 legal departments across Europe (including Belgium, Germany, France, Italy, the Netherlands, Poland, Spain, and Sweden). The survey is the second from Wolters Kluwer and ECLA, with the first released in 2020. 

Legal software has entered the daily workflow 

The 2020 survey confirmed the relevance of having a clear strategy to form a more digitally mature legal department, and that digitalization was already high on the agenda of corporate legal departments. However, … … weiterlesen

DISCO Has Acquired Hold360 and Request360

Legal tech provider DISCO announced it has acquired legal workflow products Hold360 and Request360, as well as related regulatory and alert solutions, from Congruity 360, LLC. These critical legal workflow capabilities will integrate with DISCO’s cloud-based e-discovery platform and provide a modern, digital solution for corporate legal hold obligations and legal request compliance. 

Hold360 and Request360 are next-generation, streamlined technology solutions that eliminate the challenges from legacy solutions, which relied on human processes, teams of attorneys and legal professionals, and limited technological solutions to ensure compliance with legal preservation obligations. 

With Hold360 and Request360, DISCO will expand its solution set to address the legal hold requirements of customers, including the ability to hold data and documents in place electronically rather than recreate, store, and manage copies of duplicative data. Further, silent hold capabilities allow legal teams to easily enact holds, without the need to engage … … weiterlesen

Legal Tech Startup Clara Announced $3.5M Seed Funding From The LegalTech Fund

Clara, a legal operating system that provides an integrated collection of self-service tools to assist founders digitally organise, manage, and develop their firms, announced that it had raised more than $3.5M in seed funding from The LegalTech Fund. The platform is nearing the end of its beta period.

According to TechFundingNews, the London based startup’s exit from beta means better features and functionality for the 1,200+ startups that have already signed up, including quick company formation in major jurisdictions where VCs and accelerators frequently invest. Improved cap table functionality and faster legal document processing are included in the platform. In the coming year, Clara will grow into new jurisdictions and continue to provide new and improved services to its users.

Clara was founded in 2018 by a group of entrepreneurs who have worked in … … weiterlesen

CodeX FutureLaw 2022 – A Summary

On April 07, 2022, the FutureLaw 2022 Conference, hosted by CodeX – the Stanford Center for Legal Informatics – was held on the Stanford University campus. FutureLaw 2022 was CodeX’s first in-person conference since the start of the Corona pandemic, which has also been streamed via Zoom.

This year’s CodeX conference was its tenth annual conference focusing on the way technology is changing the legal profession, the law itself, and the way these changes affect us all. 

Following the opening of the event and warm welcome to all attendees by Jenny S. Martinez, Dean of Stanford Law, and Roland Vogl, Executive Director of CodeX, Jennifer Newstead delivered an opening keynote speech. Newstead is the chief legal officer at … … weiterlesen

Filevine Raises $108M Series D for Legal Work Platform 

Filevine, a company offering a software-as-a-service product for legal case management, announced that it raised $108 million in a Series D funding round led by StepStone Group, with additional funding from Golub Capital. Signal Peak Ventures and Meritech Capital, repeat investors in Filevine, also participated in this round.

As law firms contend with rising demand and a talent shortage, many have turned to Filevine’s all-in-one legal suite to improve efficiency, mitigate stress, and grow revenue. The Series D funding will help power Filevine’s expansion more deeply into big law, insurance defense, corporate, governmental, and nonprofit legal counsel teams, building on the company’s expertise in litigation and personal injury law.

Founded in 2014, Filevine is building a new interface for legal work. CEO and co-founder Ryan Anderson, a former … … weiterlesen

Josef And LexisNexis Announced Partnership

Legaltech platform Josef has announced a partnership with LexisNexis Pacific, one of the world’s foremost legal content platforms. The partnership will see Josef and LexisNexis join forces to streamline how legal and compliance professionals access LexisNexis’ global content library.

Starting with the LexisNexis Regulatory Compliance solution, the collaboration augments how users retrieve content through an integration that offers an alternative method of querying the content library delivering workflow efficiencies, heightened transparency and actionable insights.

LexisNexis Pacific, Managing Director, Greg Dickason said Josef represents the innovative technology that LexisNexis has always embraced.

“LexisNexis has continually been innovating in this space for over 50 years, adopting and pioneering new technology ensuring that our content is optimised and highly accessible,” Dickason said. “Our partnership with Josef makes sense to us as we work with emerging no-code solution providers. We believe in experimenting … … weiterlesen