Legal technology platform definitely raises a series of 30 million dollars to make the contract review more efficient

Nnamdi Emelifeonwu has always been curious about the form of practical life for his fellow colleague Feargus Macdaeid, one of the few blind lawyers in the United Kingdom, practiced all of the law in the global Freshfields company.

When he asks about what might make his life easier, the answer was clear: “Help me to move in the definitions in complex contracts without losing the context.” I have realized that the reform of Macdaeid’s request would be useful for every lawyer.

So in 2017, Emelifeonwu and Macdaeid have definitely launching it, a start -up legal technology company of artificial intelligence that allows lawyers to review and edit complex contracts smoothly.

The company, based in the United Kingdom, announced earlier this week the B series of $ 30 million in a mixture of European and North America, including Revaia, Alumni Ventures and Beacon Capital. Preceded The A series A series of $ 7 million collected last May.

It definitely provides a production group to simplify the formulation and legal review process. It contains a draft feature that allows lawyers to read contracts and move in definitions and items without losing their place in the document; It contains a cellar, allowing users to include the camel with one click; It contains an proof feature, which uses artificial intelligence to verify broken cross -contrasts and references, and has a PDF feature that allows users to extract and analyze points from the legal documents that are scanned.

“We look forward, we are building on these capabilities through the Aic Agensic system that we recently launched.” “These agents are cooperating to complete the tasks by formulating, reviewing and correcting renewal, and simplifying work for legal professionals where they are already working.”

Emelifeonwu described the process of collecting donations this time as “arduous”.

“It may be one second (the word) is rewarding,” he said.

The company met the main investor for this tour, Rivaya, through an introduction. The rest of the investors came to the company directly. “We did not communicate with one investor during the B.”

New capital will be used to enhance the company’s expansion in the United States, which now represents 30 % of the company’s revenues, she says. It also hopes to invest in artificial intelligence space and employ more employees.

Among the others who work in the legal contract in this way are the blame companies, Robin AI, and Contracpodai.

Emilono, a Nigerian immigrant in the United Kingdom, said he dreamed of being a lawyer since he was a child, but as soon as he became one, he had a spirit of entrepreneurship. “I always had ideas, and I explored some of them, but when the correct idea, which I took advantage of the challenges I faced directly as a lawyer, I knew that I had to follow it,” continued.

He also realizes the importance of this big round when the black founders do not represent a statistically, a lot of annual donation collection activity.

He said: “After it raised the new capital and construction towards a real global work, it is a personal teacher, and I hope it is possible.” “I want to inspire this next wave of builders who may not come from traditional tracks but they have a great deal of capabilities to create a permanent effect.”