LawGeex has closed a capital raising of US$12 million. The startup was founded in 2014 and has so far raised US$21.5 million (equivalent of around A$28m). Based in Tel Aviv and New York, LawGeex describes the problem that it is trying to solve as: 

Businesses rely on their in-house legal counsel to review and approve contracts quickly, to close deals faster and keep business running efficiently.

Legal counsel are often overwhelmed with work, and reviewing everyday contracts is a time intensive and mundane task, taking legal focus away from more strategic matters and creating a legal bottleneck.

Legal, Operations and Sales have all recognised that these issues are costing time, money and employee morale.

Its solution:

LawGeex employs the latest in Artificial Intelligence, machine learning, text analysis and natural language processing to review and understand legal documents.

Our easy to use, cloud-based platform enables our customers to automate the review of contracts, analyze their contents and compare them to their legal team’s predefined criteria or to industry benchmarks.