April 29, 2024 -- Issue #287
Hi, Charlie Uniman here, host of Legal Tech StartUp Focus ("LTSF"), the online community for everyone involved with legal tech startups. You're reading the latest digest of articles, opinion pieces, and other thoughts posted during the past week at the community.
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Fundraising
🔳 “Melbourne-based Deeligence has received AUD $1m in funding, which the startup will use to further build its multi-feature platform to help drive efficiency and support easier collaboration in M&A due diligence projects.” https://www.artificiallawyer.com/2024/04/23/deeligence-bags-aud-1m-to-reshape-due-diligence-work/
🔳 Not just “fintech,” I’d say:
“FinQuery, formerly known as LeaseQuery, has secured a significant minority investment to the tune of $25m, led by Periphas Capital and supported by Lavelle Capital.
“The company is renowned for its AI-driven SaaS platform that integrates functions across finance, accounting, and IT departments. FinQuery helps manage significant financial contracts, including leases, software subscriptions, and other related agreements. This enables companies to gain comprehensive insights into their spending patterns, software usage, and financial forecasting, ultimately facilitating more informed decision-making and streamlining complex accounting tasks.” https://fintech.global/2024/04/25/finquery-secures-25m-investment-to-boost-ai-solutions-for-cfos/
Member Introductions/Questions
🔳 New LTSF'er, Iveren Lyam, introduces herself, saying: "Hello everyone, I'm Lyam Iveren Ann, a recent law graduate with a keen interest in legal technology. My goal is to specialize and become an expert in this field. I am passionate about leadership and using my legal knowledge to create innovative solutions that improve the lives of people, especially in my country.
"I am looking forward to connecting with you all, learning from you all and I am open to ideas as well.
"I am open to interactions or suggestions on the first steps to take to start a legal tech career. What courses to take, what resources can I use and where I can get them,what should be my network focus. I am open to your ideas and suggestions."
🔳 Recently-joined-our-community member, Yassin Qanbar, has posted: "Hey Everyone and Happy Friday 🎉
I am delighted to join the community and introduce myself🌻
I am Yassin Qanbar, a Law Graduate, Legal-tech Enthusiast, and Content Professional. My roles varied from working in Legal Document Automation📄, Legal Data Analysis and Research 📊, Legal Case Management ⚖️, Data Labeling for Machine Learning 🧑💻, and Translation 🗺️ to Marketing, SEO, and Content 📢
Looking forward to connecting with all of you and learning more about all things legal-tech! ☺️"
🔳 Nader Karayanni is looking for new product testers who are med mal practitioners: "Hi all
"We are looking for 1-2 attorneys who practice medical malpractice cases for early access to our product.
"We are still in stealth, opening up two spots to access our product. Our product will help in the first stage of the medical records review for negligence. (before doctor's review)
"Ideally, we're looking for attorneys with at least 20 med-mal inbounds monthly. Our platform is compliant with HIPAA and the cost will be low, our motivation is to learn from feedback and the cost will only be to cover compute expenses
"Reach out at: nader.karayanni@newcase.ai"
🔳 New community member, Bernie Behrendt, writes: "im Bernie founder of a German eDiscovery company named readworks helping Legal Professionals doing research in huge amounts of documents by augmenting relevant findings onto the original document pages and improving by this the research process duration. Actually we‘re starting to think about expansion to the US market and I’m happy to share opinions knowledge in the Legal tech world. Feel free to checkout our solution at www.readworks.app and have a beautiful weekend."
Product Development
🔳 DepoDirect launches “. . . CoCounsel.ai, the first legally nuanced meeting bot. It can join a legal event such as a deposition, hearing or arbitration, and it uses legal-specific AI speech-to-text to provide a legally formatted, highly accurate real-time transcript, along with features such as bookmarking, tagging and archiving.”
Who’s interested in developing a meeting bot for deal negotiations? https://www.lawnext.com/2024/04/launching-today-the-first-meeting-bot-specifically-for-legal-professionals-for-use-in-depositions-hearings-and-more.html
Purchasing/Using Legal Tech
🔳 From Artificial Lawyer: “‘Litigation is war,’ stated Stephen Dowling, the founder of TrialView, at the Future Lawyer Week conference yesterday, then posed the question: ‘Will there be an arms race’ in relation to GenAI-driven tools for litigators?
“Fellow panellist, Anna Gilbert, a counsel at the Hausfeld legal group, agreed that it was very relevant now and that ‘what GenAI tools will the opposition be using?’ may become a key question both parties and their law firms will start asking more and more.”
When clients start asking their law firms, “Say, your opposing counsel is using ‘XYZ’ legal tech, are you?” then you know ‘XYZ’ legal tech has found product-market fit! https://www.artificiallawyer.com/2024/04/19/will-there-be-a-legal-ai-arms-race-in-litigation/
🔳 As Legaltech News describes its legal tech news roundup: “An update on the legal tech market's past few weeks, from product launches to new partnerships.” Latest update at the link below. https://www.law.com/legaltechnews/2024/04/19/legal-tech-rundown-lowenstein-sandlers-gen-ai-chatbot-upstart-founder-at-lawfi-and-more/
🔳 Buy or build. An “age old” question that legal tech purchasers face. But, how do purchasers answer that question when the tech at issue is a large langue model? For considerations that purchasers should weigh when trying to arrive at an answer, read the article at the link below. https://www.law.com/legaltechnews/2024/04/25/five-questions-to-ask-if-you-are-considering-a-private-large-language-model-for-your-law-firm/
🔳 Can’t let a week go by without another Legaltech News legal tech roundup. https://www.law.com/legaltechnews/2024/04/26/legal-tech-rundown-epiq-aws-partnership-exterros-2-7m-donation-proxiios-relativityone-addition-and-more/
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