TermScout CL (2)
LawGeex, established in 2014, currently offers a variety of services to its clients ranging from legal technology, contract review, contract analysis, big data, startup, machine learning, NDA, leases, term sheets, contract feedback, SaaS, and artificial intelligence. The required information has been provided in column E, rows 3-42 of the attached spreadsheet. Below is the summary of findings.
- LawGeex was established in 2014 by Noory Bechor and Ilan Admon.
- The privately held company has its headquarters based in New York, USA. They also have an office based in Tel Aviv, Israel.
- It has partnered with legal firms while offering a variety of services that include those related to legal technology, contract review, contract analysis, big data, startup, machine learning (ML), and artificial intelligence (AI).
- LawGeex intends to use US$20 million which it raised amidst coronavirus pandemic to grow its sales and customer success teams with intentions of growing its base into other English-speaking territories.
- The company offers a variety of services to its clients ranging from legal technology, contract review, contract analysis, big data, startup, ML, NDA, leases, term sheets, contract feedback, SaaS, and AI.
- By using of error detecting module, businesses are able to spot missing clauses and replace non-compliant phrases with pre-approved language using the interface.
- The company also provides firms with data regarding legal spending and the dangers of adding wrong data to contracts that they use while making strategic decisions.
- LawGeex has raised US$41.5 million as its total funding in over 5 rounds. Its latest funding was raised on May 12, 2020, from a Series C round.
- LawGeex claims that what separates the company from other tool providers is that they offer technology alongside other services unlike their competitors that only offer technology alone.
- The company differentiates itself as it "redlines the contract just like a human lawyer", unlike other solutions that "only flag unacceptable or missing clauses".
- According to the company's CEO during an interview with Legal Tech Tapas, LawGeex saves clients' time and resources. He also mentioned accuracy being one of the major differentiators to their competitors.
Some of the company leaders and positions held:
- The company has clients from a variety of industries including legal firms, finance firms, and e-commerce among others.
- Some of the clients are globally known brands such as eBay, Johnson & Johnson, AbbVie, Office Depot, and Metlife.
To find the information regarding LawGeex, the team searched through the company's website, LinkedIn profile, official blog posts, review sites, and trusted media sites to carry out this research. This method proved fruitful because we were able to find information about the company's product, history, claims, funding, and the organizational team.
However, we were unable to find any details regarding data sets, pilots, and patents after carrying out in-depth research through the company's press releases. We tried searching through industry media publications, articles, industry magazines, and other trusted media sites but this search method proved abortive as no relevant information related to the data points was available. As a last resort to find information regarding any pilots, we sought for interview sessions by the company's key leaders as they would possibly mention if they have any pilots or would have any in the near future. However, we were unable to find this information using this approach.