Australia’s Biggest LegalTech IPO

Nuix is an investigations and eDiscovery software company. It started to take off in the early 2000s. The company was not only ahead of its time in Australia but also in the world. In 2011, Macquarie Capital Group Limited invested in Nuix, to accelerate the company’s next phase of business growth and expansion.  At the time, Nuix CEO Eddie Sheehy said: “We are excited to have Macquarie as a major shareholder. We could not ask for a better partner to support our growth. Nuix competes against some of the world’s largest technology companies and Macquarie’s investment will enable us to […]

For Victorians, is remote work the new normal?

By InfoTrack. At the beginning of September, Victorian Premier Daniel Andrews announced the unfortunate extension of Stage 4 lockdown for Victorians as a means to tackle the spread of COVID-19. Even if successful, Andrews maintained that “curfew, travel limits and some other elements of stage four will remain in place until 26 October.” While some restrictions have been eased for regional Victoria, under the current roadmap, a phased return to work will not be in place until November 23. As Victorians look longingly at other states, they ask, is remote work the new normal? And, what will this mean for […]

Automated contract review company receives US$10m investment

ThoughtRiver secures $10M funding to support global expansion as lawyers look to automate contracting and accelerate deal velocity From official announcement: ThoughtRiver, the market leader in automated contract review and pre-screening, has today announced $10M (£7.5M) in Series A funding. The round is led by Octopus Ventures, a leading European venture capital firm which invests in technology innovation leaders. The investment comes after ThoughtRiver achieved record growth over the past twelve months. It recently signed contracts with some of the world’s leading companies, including giants such as G4S, Singtel, and DB Schenker. ThoughtRiver also signed a strategic partnership with PwC, […]

Solved: how a law firm can get paid and retain the client at the same time

Lawyers: end conflict in getting paid for your services. There is a better way than debtors collections. Peter Frankl (editor of Legal Practice Intelligence) interviews Richard Hugo-Hamman of LEAP Legal Software about instalment plans set up through RapidPay. Predictable revenue and cashflow is achievable. Learn more here

Skier, Triathlete, Lawyer and Legal Practice Innovator – Justin Betar

Lawyer Justin Betar shares his experience as a recognised innovator in using technology in legal practice. Justin is also a triathlete and skier. He talks to Jane Oxley (Smokeball Software) and Peter Frankl (Editor – Legal Practice Intelligence) about the interplay between sporting activity, great software and success in legal practice. Smokeball Software https://www.smokeball.com.au Betar Lawyers https://www.betarlawyers.com.au

Creating a Law Firm with Predictable Revenue

By Richard Hugo-Hamman* Instalment Plans with regular affordable payments In the past most established law firms were able to predict cashflow based largely on an assessment of past performance combined with an assessment of incoming work. That approach has worked for a long time. Covid19 has changed that forever. Future income has never been more uncertain making forward planning extremely difficult. The drastic impact of the shutdown of society for health reasons is a risk few businesses had considered. Court closures, the property market slowdowns, rent payments in arrears and evictions under moratoria and even commercial and personal solvency itself […]

Work Inspired Message Drives Success and New Solutions at NetDocuments

NetDocuments, a leading secure multi-tenant cloud-based content services and productivity platform for law firms, corporate legal teams, and compliance departments, today introduced a series of new solutions – ORGANIZE, PROTECT, PLAN, DELIVER, LEARN – designed to enable customers to ‘Work Inspired.’ In support of this launch, NetDocuments is introducing Tasks, a collaborative task management system, and SmartView, a document preview and collaboration engine. Both new technologies are part of the PLAN solution and will be featured during ILTA’s virtual ILTA>ON conference, August 24-28. From the outset over twenty years ago, NetDocuments has inspired the legal tech industry, as the first […]

iManage Acquires Closing Folders, Leader in Legal Transaction Management; Combination Yields Best-in-Class Integrated Document and Deal Management

iManage, the company dedicated to transforming how professionals work, has announced it has acquired Closing Folders, a leader in legal transaction management (LTM). The acquisition uniquely enables iManage to deliver automation and governance over transactions and deal documents from creation to closing. Transactions make up a large portion of law firm matters and legal department work. The closing processes associated with them are typically manual, error-prone, expensive, and complex. They require the coordination of hundreds of documents, frequent revisions, and numerous signatures and tasks across many parties – often under tight timelines. And clients are frequently frustrated by insufficient visibility […]

thedocyard to raise $45 million to buy software company Ansarada

thedocyard’s (ASX:TDY) annual financial results for the year ended 30 June 2020 showed an improvement in revenue but from a very low base. Annual receipts from customers were $846K which compares to the previous year at $529K. At these levels of revenue the company was generating significant losses and burning cash at a rapid rate. Its pivot? Buy the software company Ansarada. Although it has reached a heads of agreement to make the acquisition, also referred to as a merger, it first needs to complete a successful capital raising of $45 million. The plan is to retain $20 million in […]

Kira Systems Launches Answers and Insights, A New-to-Market Capability in Contract and Document Analysis

Kira Systems, has announced its upcoming release of Answers & Insights. This new capability goes beyond identifying and extracting provisions, clauses, and data points, by interpreting this data and providing decision-makers in firms and organizations with the answers to their most pressing questions, instantly. It’s fully integrated into our no-code machine learning platform, Kira Quick Study, allowing for easily scalable customization. Building On Kira’s Smart Fields: Intelligence that Answers your Questions Kira’s Built-In Intelligence comes pre-built with smart fields to accurately identify and extract over 1,000+ common clauses, provisions, and data points from contracts and documents. These smart fields are […]