5 major takeaways from our $12M funding

Noory Bechor, CEO, and co-founder of LawGeex

Earlier this week, we announced the closing of a new $12 million funding round led by venture capital fund, Aleph, and including previous investors, such as Lool VenturesThis will allow us to deliver better and smarter products, expand our market reach and continue leading the legal AI category.

This is the latest in a number of major developments disrupting the $700 billion legal services market. Here are five takeaways I have taken from this journey, the process of raising funding, and what this means for the future of legal technology.

Legal SaaS AI Platform LawGeex Raises $12 Million in New Funding

Eden Shochat (left) Aaron Rosenson and Michael Eisenberg equal partners at Aleph VC, investors in a $12million funding round for LawGeex.

TEL AVIV, Israel, April 17, 2018 (10AM EST) – LawGeex, the leader in Contract Review Automation for businesses, announced today that it closed a $12 million funding round led by venture capital fund, Aleph. The investment brings LawGeex total funding to date to $21.5 million. Previous investors, including Lool Ventures, also participated in this round.

Tales of LegalTech Adoption: Connie Brenton, NetApp

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In a series of monthly interviews, LawGeex speaks to law departments adopting legal technology to enhance productivity. Here, we speak to Connie Brenton,  Director of Legal Operations, NetApp, and President of the Corporate Legal Operations Consortium

The Definitive LegalTech Buyer’s Guide Returns in 2018

The highly-anticipated 2018 edition of the In-House Counsel’s LegalTech Buyer’s Guide will launch this May. The guide is relied upon by the world’s leading law departments in their tech buying decisions — and has been described by leading General Counsel as the “bible” for all in-house legal teams.

5 Things in LegalTech: The Big Global Hackathon lowdown, International Women’s Day & Legal AI is mainstream

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

How You Can Quickly Up Your Contract Game With This One Simple Tactic

Lauri Donahue, LawGeex’s Director of Legal Content, on a game-changing tool that streamlines contract review

I remember the first time I was asked to review a contract. It was more than 30 years ago, and I was fresh out of law school, working in my first legal job. Like most law students — then and now — I’d studied contract law but hadn’t ever been walked through a complete, modern contract.

“What should I look for?” I asked.

“Just check the warranties and indemnification clauses,” I was told.

And so I did.

Of course, I had no idea what a warranty or indemnification clause should look like — what was standard or what would commonly be negotiated.

AI vs. Lawyers: The Ultimate Showdown

Artificial intelligence has overtaken lawyers for the first time in a staple of the legal profession — accurately spotting risks in everyday business contracts.

In a new study, LawGeex has achieved an average 94% accuracy rate at surfacing risks in Non-Disclosure Agreements (NDAs), one of the most common legal agreements used in business. This compares to an average of 85% for experienced lawyers.The study pitted the LawGeex AI solution against 20 US-trained top corporate lawyers with decades of experience, specifically in reviewing NDAs.

5 Things in LegalTech: Funding grew in 2017 + Secrets of LegalTech Incubators

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

8 Sensational Harvey Specter Quotes You Need For Legal Change

In a previous blog we have shown that Harvey Specter in the TV Show Suits is a trailblazer in law (What Suits Can Tech Us About AI Law). Here, we provide 8 sensational and inspiring quotes on change from the slick, successful hot-shot attorney.

In the real world of law, top in-house lawyers are following the wisdom of Harvey Specter’s philosophy. In particular, legal department leaders are adopting their own killer lines as they take on law’s biggest challenge of change

For this Unicorn, It was a No-Brainer!

Lucy Bassli, former Assistant General Counsel at Microsoft, on why she has left the “best company in the world” to join LawGeex as Chief Legal Strategist

Lucy Bassli speaking at the LawGeex GC Tech Masters Summit in New York in January

I was at the best company in the world, doing a job that I loved when I started to notice the world around me changing. The legal industry started going through its own industrial revolution, and I was excited to play a small role in that revolution. I was lucky enough to have experimented with alternative resourcing, outsourcing legal processes, creative law firm engagements, automation, smart risk-taking, and other innovative practices making my day job tons of fun. I was a transactional attorney with too many contracts to handle and too little time. I knew there was a better way.