Blue J Legal Raises US $7m to Support US Expansion
Canada-based, Blue J Legal has raised US$7m in a Series A financing round led by Relay Ventures, with participation from Silicon Valley-based LDV Partners, and returning investors Mistral Venture Partners and BDC Capital.
Blue J Legal will use this injection of capital to establish a foothold in the U.S. market, expand and enhance its product suite, and grow its go-to-market and product development teams.
Since its inception in 2015, the team at Blue J Legal has grown to more than 30 employees. Over the past two years, the company has signed on more than 100 clients for its Tax Foresight and Employment Foresight products. Osler, Hoskin & Harcourt LLP, Fasken, Gowling WLG, Miller Thomson LLP, and Collins Barrow are among the market-leading law and accounting firms that rely on these products, which are powered by machine learning and artificial intelligence (AI).
“Bringing clarity to the law, everywhere and on-demand, is the foundation for the next generation of legal research,” says Benjamin Alarie, CEO of Blue J Legal. “Our rapid expansion and success in the Canadian market is testament to this. With the ongoing support and confidence of our investors, we will grow our team, bring our proven technology to the U.S. market, and expand our product portfolio.”
Blue J Legal’s growth is buoyed by the success of its Tax Foresight and Employment Foresight solutions. Tax Foresight helps tax professionals determine the strength of their tax position by applying AI to previous judicial decisions and allowing practitioners to find cases by facts and outcomes instead of keywords or citations. Employment Foresight, which launched late in 2017, gives employment lawyers and in-house counsel clarity on how the courts would resolve challenging employment law issues.
“Blue J Legal’s artificial intelligence solutions are being rapidly adopted by top legal and accounting professionals because the technology can quickly inform and influence professional advice through insights derived from machine learning applied to case law,” said Alex Baker, partner at Relay Ventures. “In addition to this significant market validation, the company brings together a great team with a unique skillset that includes law, statistics, and technology. This combination is exactly what we look for when making early stage investments.” Concurrent with the funding round, Baker is joining Blue J Legal’s board of directors.