5 things in LegalTech: A Tale of Two Female Entrepreneurs

Your time is short. This quick read gives you 5 things you need to know from LegalTech in the past seven days.

1

LegalTech Deals! A tale of two female entrepreneurs

It was a week dominated by two female LegalTech entrepreneurs, points out Caroline Hill, Editor of Legal IT Insider.

First up, Alma Asay, founder and CEO of Allegory Law.  Allegory announced it was being sold to alternative legal services provider, Integreon. Asay is being brought in as Chief Innovation Officer, along with the entire Allegory team. Reporting on the deal, legal journalist, Bob Ambrogi at LawSites blog says Integreon now plans “to offer a true end-to-end solution for litigators and in-house legal departments.” Asay added: “Litigation teams more and more need a cloud-based solution where outside counsel and everyone on the litigation team can all build their case together.”

Secondly, Emily Foges, CEO of Luminance, celebrated a $10million Series A funding round. The UK-based legal AI due diligence contract review company is now valued at $50m, according to Jeremy Kahn at Bloomberg News. Kahn says with rise of legal AI, “now there’s some evidence these efforts are gaining traction – at least with investors.” The funding was led by Talis Capital, Invoke Capital (founded by Mike Lynch, the co-founder and former chief executive officer of U.K. software company Autonomy) and global law firm Slaughter & May, which “acquired a 5 % stake in Luminance in the spring, according to reports. The funding will help grow the company’s new U.S headquarters in Chicago.

Other Deals Legal IT Insider: NetDocuments buys enterprise chat site ThreadKM

 

2

Happy E-Discovery Day one and all

Those seeking an adrenaline rush after Black Friday and Cyber Monday celebrated the third ever E-Discovery Day on Friday (November 1). The Association of Certified E-Discovery Specialists and Practitioners launched a full day of “informative webcasts, in-person networking events and more.” Some highlight webinars included The Case is Done, but the Data is Still Everywhere;  Top 5 E-Discovery Process Improvements Legal Needs to Make But Haven’t (available here) and Reporters Recap Top E-Discovery Storylines from 2017, Schindler Cohen & Hochman LLP E-discovery expert, Syreeta Lee, and Director of software E-Discovery firm, Relativity, Doug Kaminski. Doug channeled the wisdom of fantasy writer Terry Pratchett, providing some reflections on the day.

3

Legal Week CONNECT + Who won? 

On the conference front,  Legal Week CONNECT at London’s Institution of Engineering and Technology, included debate on inclusion, law firm branding, legal technology and artificial intelligence. 

The British Legal awards , the culmination of the conference, (full list of winners here) recognized the “brightest and best” in the UK profession. On the tech front, we note wins for tech Supplier of the Year: iManage, and best Use of Technology in a firm going to Mishcon de Reya. The in-house winners included Pearson’s Bjarne Philip Tellmann, who was named General Counsel of the Year; Informa, which took the prize for Legal Department of the Year (TMT); and Royal Mail, which won the award for Legal Department of the Year (Commerce and Industry). Bjarne is among those featured in an upcoming LawGeex 20+ page book revealing the secrets of in-house innovation, The In-House Counsel’s Guide to Change Management (click here to get it first).  

 

4.

LegalTech predictions 2018

It is the time to think back over 2017 and look forward to 2018. American Lawyer (What 2017’s Trends Can mean for Big Law in 2018)  began, predicting “more law firms partnering with tech vendors to meet client efficiency demands” and more substantial use of legal project management software.

For Artificial Lawyer, 2017 was when “The Legal AI Barbarians Have Already Taken The Gates“. Artificial Lawyer’s Legal AI expert, Richard Tromans concludes “As we approach the end of 2017, the technology is firmly ensconced at the highest levels of the market.”

Lucy Bassli, assistant General Counsel at Microsoft, in a must-read piece, expects a  further shift away from law “created by lawyers and for lawyers”. She expects a continuing move away from paper processes, and towards automation (Microsoft is working on contract bots to guide teams through the type of contract they require).

Meanwhile, Above the Law spoke with Jeff Ton to discuss Bluelock’s 2018 predictions for Legal, summarized by Joe Patrice as “Lots more ransomware and robots.”

 

5.

LegalTech wins big in ABA Law Journal Web 100

 

LegalTech-first blogs rose to the most essential online reads. Every year since 2007, ABA Journal staffers have assembled a list of 100 favorite legal blogs. The 2017 list, rechristened the Web 100, included 50 blogs, 25 law podcasts and 25 tweeters for lawyers to follow. This LawGeex blog was proudly added to the list, along with names such as Artificial Lawyer, Clio, Ross Intelligence, Legal Mosaic, Legal Evolution, Legal Cheek and many others advocating LegalTech.

Marketo GC Sterling Miller, author of Ten Things You Need to Know as In-House Counsel: Practical Advice and Successful Strategies also posted Ten Legal Blogs You Should Check out 2017 (again this blog, and indeed, this column was excitedly featured). For all those who did not want to dignify such awards, we also salute you.

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In case you missed it! Webinar: 5 Steps to Implement a Contract Triage Process (LawGeex) 

LegalTech Diary upcoming events 

29-30 November: Legal Week Connect, London (Legal Week)

21 December: Save The Date! Christmas Drinks For Legal & Tech Professionals (London)

 

The Blurb: A curated mix of articles worth sharing in the past week.

New York Times: A.I. Will Transform the Economy. But How Much, and How Soon?

Ross Intelligence: LegalTech is Primed for Growth Investments Guest post by Catalyst Investors

LawSites Blog: Practice Management Companies Go to Court over Trademark dispute 

Above the Law: Conditions For AI Success: Discipline, Data, And Patience

Legal IT Professionals: Thomson Reuters Elite Announces Launch of ProLaw 2017.2