LawGeex News
11 articles
Lawgeex Plans to Lay Off Employees, Pivot to Small-Enterprise Shoppers | Sellshoutouts.com
Automated Legal Contract Startup LawGeex Raises $20 Million
Tel Aviv-based legaltech startup LawGeex has raised $20 million in a funding round led by Corner Ventures. The company develops software that automates legal contract reviews for businesses, with customers including HP and General Electric. The funding will be used to hire more people for the customer success team, expand the product offering, and enter new markets. This brings LawGeexs total funding raised to $45 million.
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White & Case Whitelabels LawGeex For Client Contract Review Needs
Global law firm White & Case is set to deploy LawGeexs software on a white label basis. This move is significant as LawGeex is mainly used by corporate legal teams, rather than within law firms. The deal shows an increased willingness among major law firms to re-sell legal tech companies software. The logic behind such moves reflects a scenario where clients dont want to pay top law firm rates for routine contract work. The law firm doesnt want the client to portion off that work to another lower-cost firm. Law firms are increasingly keen to keep process level work inside the business if they can do it more efficiently themselves. Inhouse legal teams are willing to ask external advisers to take on such tasks for them, even though they could do the work efficiently themselves with a system such as LawGeex or other AI contract review tool.
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LawGeex Releases 2019 Legal Tech Buyer's Guide
Israel's LawGeex wins first Burton Award for law-tech
Israeli legal-tech company LawGeex received the Technology Advancement in Law Award at the Burton Awards ceremony. The award recognized LawGeexs revolutionary Contract Review Automation platform, which saves lawyers 50% to 80% of contract-review time and cost. The software ensures consistent application of company policies and has been proven more efficient than human lawyers in contract review. LawGeex has also been named to Red Herrings Top 100 list and Wireds 100 Hottest Startups in Europe.
Customers
LawGeex Beats Human Lawyer - Round Two - Feat. Vice News + DealWIP
LawGeex, a legal AI pioneer, held a man vs machine competition against a human lawyer as part of a special report on The Future of Work. The AI + human side beat the human alone side, demonstrating the capabilities of LawGeexs NLP algorithms. The competition involved reviewing two NDAs, with LawGeex achieving 95% accuracy in just 18 minutes, while the human lawyer took over an hour with 85% and 83% accuracy. The co-founder of legal tech startup DealWIP, Tunji Williams, participated as the human lawyer. LawGeex emphasizes the need for lawyers in defining policy, handling negotiation, and managing more complex contract categories, but highlights the importance of tech-savvy lawyers who can leverage technology.
Customers
Israeli legal AI co LawGeex raises $12m
Israeli AI legal contract platform developer LawGeex has closed a $12 million Series B financing round led by Aleph venture capital fund. The companys AI platform helps businesses analyze and approve legal contracts, with research showing it to be more accurate than US lawyers in identifying risks. LawGeex plans to double its workforce with the latest investment. The company has clients in 15 states, including e-Bay, Farmers Insurance, and French bank Natixis.
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LawGeex Closes $7M Series A Funding - FinSMEs
LawGeex, an AI contract review platform, has closed a $7 million Series A funding round. The funding was led by Recruit Holdings, with participation from previous investors Lool Ventures and LionBird. The company plans to use the capital to enhance its AI capabilities, improve its SaaS offering, and expand its team. LawGeex provides a platform that uses AI to review and approve incoming contracts based on predefined criteria. If needed, the contracts are escalated to the legal team. The platform supports a variety of standard business contracts. Rami Kasterstein, a seasoned VC and entrepreneur, has joined LawGeexs board as a representative of the investor group.
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LawGeex: Free, Easy-To-Use Contract Review Software - Legal IT Insider
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Rise of the Robolawyers: LawGeex Law Practice Manager
Contract review platform co LawGeex raises $2.5m
Israeli startup LawGeex has raised $2.5 million in funding and launched its online contract review solution. The platform uses machine learning to review contracts and provide users with an in-depth report of the contracts strengths and weaknesses. LawGeex aims to make contract reviews accessible to everyone and help users negotiate better deals. The startup has already reviewed thousands of contracts, including those from major tech companies like Apple, Google, and Facebook. LawGeexs solution is currently free for consumers and plans to offer more contract types in the future. The funding round was led by Lool Ventures and LionBird, with participation from angel investors Eilon Tirosh and Rami Lipman.
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