Oraseya Capital’s Post

Two valuable contributions by Isha Marathe via Legaltech News about Harvey, the OpenAI-backed legal tech startup and the concerns that it is raising: Part 1 /  "The Hype Behind Harvey: How the Stealthy Startup Is Raising Industry Eyebrows" https://lnkd.in/eNJMUnVZ Part 2 /  "The Hype Behind Harvey: How Firms Are Using the Gen AI Startup" https://lnkd.in/ew3aCB4N

UK-based legaltech startup Lawhive, which offers an AI-based, in-house “lawyer” through a software-as-a-service platform targeted at small law firms, has raised £9.5 million ($11.9 million) in a seed round to expand the reach of AI-driven services for “main street” law firms. Lawhive targets small law firms or solo lawyers running their own shops. Lawyers can use its software to onboard and manage their own clients, or can sign up for Lawhive’s marketplace to be matched with individual customers and small businesses. “Pretty much all of the existing legaltech — AI companies like Harvey, Robin AI, or Spellbook — all go after the corporate market,” said Pierre Proner, CEO and co-founder of Lawhive, “That’s a very small number of big law firms in the U.S. or the UK. We’re trying to solve the problem in the consumer legal space, which is a totally different and separate market. It’s served, at the moment, by — in the UK — 10,000 small law firms.” https://lnkd.in/ecKweMET #legaltechtalk #legaltech #legal #funding #ai 

Lawhive's recent funding round of £9.5 million ($11.9 million) signals a promising shift in the legaltech landscape, focusing on small law firms often overlooked by AI startups.🎉 It's refreshing to see a legaltech startup focusing on the "main street" firms, which often get overshadowed by the big players in the industry. 💼 With their platform offering an AI-powered virtual lawyer and streamlining tasks like client onboarding and document management, it sounds like a game-changer for solo practitioners and small firms alike.  🚀 Looking forward to seeing how Lawhive expands its reach and disrupts the legal sector further! #LegalTech #AI #Innovation https://lnkd.in/gKgV6J8P

New A.I. venture will give insight as to why judges rule they way they do on cases, rather than mere statistics. Is this a step toward accountability in the judicial process? Bench IQ, a new legal research startup based in Toronto, aims to revolutionize how lawyers approach their courtroom strategies by leveraging artificial intelligence. Founded by Jimoh Ovbiagele, a co-founder of the defunct legal research company ROSS Intelligence, alongside former ROSS engineer Maxim Isakov and ex-Kirkland & Ellis partner Jeffrey Gettleman, Bench IQ promises to deliver deep insights into judges' decision-making patterns by analyzing all of their rulings, not just written opinions. The startup recently announced a successful $2.1 million pre-seed funding round co-led by venture capital firms Maple and Haystack. Notably, the round also saw participation from law firms Cooley, Fenwick & West, and Wilson Sonsini Goodrich & Rosati, along with contributions from Kirkland partners and various other investors. Bench IQ distinguishes itself from other legal tech offerings by focusing on providing explanatory insights into judges' legal reasoning, rather than merely descriptive statistics. This approach is designed to enable lawyers to craft more tailored and effective arguments in court. The company, which is in a competitive field with other AI-based legal technology firms, counts 12 large law firms as pilot customers. It plans to offer flexible pricing models, including on-demand rates and annual subscriptions, tailored to the needs and sizes of different law firms. This venture comes after Ovbiagele's previous company, ROSS Intelligence, had to shut down operations amid a legal battle with Thomson Reuters over copyright infringement claims, which ROSS has denied. Despite ROSS being "non-operational," it remains active to defend against these allegations and pursue counter-claims. Bench IQ is now poised for growth, planning to expand its team beyond its founding members. This innovative approach to legal research underscores the increasing role of artificial intelligence in transforming the legal profession by offering new tools for understanding and navigating the complexities of the judicial process. #artificialintelligence #artificialintelligencetechnology #artificialintelligenceforbusiness #ai #law #lawfirm #lawyer #attorney #legal #legalnews #judge #judgment #judiciary #SCOTUS

Scandinavian legal tech startup Juristic snaps $1M to empower lawyers with AI! Juristic, a Scandinavian legal tech startup transforming the way lawyers work with legal cases and law, has secured $1 million in an investment round. The round witnessed contributions from Ugly Duckling Ventures and Jonatan Hjortdal. Other investors include law firm partner, investor, and serial entrepreneur Jens Bang Liebst, who has founded multiple legal tech companies. The company will use this investment to accelerate its growth trajectory, strengthen its market position, and further enhance its product offerings, especially within artificial intelligence. Click the link below to learn more. #StartupBoostSingapore #startupnews #business #tech #ai https://lnkd.in/d7-AuxWa

We’re excited to release our latest Tech Thursday demo with descrybe.ai.ai. Watch this focused, 20-minute demo using the link below. Descrybe.ai is an advanced AI-powered legal information and research tool designed to provide accurate and efficient summaries of legal opinions. This platform ensures access to justice by offering a free, user-friendly resource for legal professionals, students, and the general public. With Descrybe.ai, users can easily navigate complex legal landscapes, access comprehensive summaries, and stay informed on appellate and supreme court decisions, all at no cost. As of late April 2024, descrybe.ai has made over 3 million judicial opinions from across the United States summarized and searchable. Their goal is to have all available state supreme and appellate plus federal district, appellate, and supreme court cases loaded and searchable soon thereafter. 📆 Next session is June 6th! On June 6th, we’re bringing you not one, but TWO game-changing companies that are revolutionizing the legal landscape for small firms and solo practitioners like never before! Meet AllDrafts, brainchild of the legendary Bob Pritchett! This cloud-based legal editor is your new secret weapon, simplifying everything from document creation to collaboration and signing. With advanced features like instant template creation and an extensive clause library, say goodbye to tedious contract drafting and hello to better ways of working. But wait, there’s more! Introducing My-Legacy.ai founded by the visionary Sree Chintala! This secure platform is your ticket to seamless traditional and digital estate planning. Imagine having a digital assistant integrated into your practice, bringing in new estate clients and taking your services to the next level! Did we mention Sree's product is backed by 12 pending patents?! 👀 Watch the Descrybe.ai demo: https://lnkd.in/di73KTzC 📅Register for June 6: https://bit.ly/4byU1dL Thursday, June 6 at 12:00p Eastern #LegalTech #Startups #Innovation #Law #TechThursday

AI-driven legal tech startups are reshaping the industry with groundbreaking innovations and significant funding momentum. This article dives into the latest trends and highlights the key players driving this transformation. Essential reading for anyone passionate about the future of law and technology. #LegalTech #AIStartups #InnovationInLaw #LegalInnovation #TechFunding https://lnkd.in/eSu8s6qA

Meet the Harvard Grad Who Built a $2 Billion Legal Tech Empire at 19! . . Imagine being the youngest graduate from Harvard Law School at just 19! That's Kiwi Camara. Then he started a software company called DISCO, valued over $2 BILLION! 🎉 DISCO is a company that helps #law firms using cool technology like AI, cloud computing, and data analytics. They make legal stuff easier for lawyers and better for clients. 😎 Let's dive into DISCO's story and what they do: DISCO started in 2013 by Kiwi Camara, Gabe Krambs, and Kent Radford. They saw a chance to change how lawyers work with technology. Their plan is to sell DISCO's tools to legal teams worldwide. They target big companies, law firms, governments, and others. They sell through salespeople, partners, and online. DISCO's tools cover everything lawyers need, like finding documents, managing cases, and analyzing data. They even have a fancy AI chatbot! Since starting, DISCO has been growing super fast! In 2022, they made $135 million! That's a lot! And guess what? People love their tools! Almost everyone who starts using DISCO keeps using it. DISCO went public in July 2021, and people were excited! They raised $224 million! DISCO is changing the legal game with their smart tech. Pretty cool, right? 🚀 That's DISCO, the legal tech rockstar! #legaltech #startup #businessstory #foundersjourney

🔥 Memo to all founders as you mingle at #NYTechWeek: There are cheap and easy ways to get the legal support you need. Robin AI CEO Richard Robinson's guide through the mess ⤵️ Startups & small firms shouldn't face a justice gap: It's not fair and it stifles innovation and growth for the wider economy. There's a growing number of Legal AI tools that can help - and Robin AI's tools offer free versions, for those can't afford or don't need our Pro versions.

As legal teams continue to face growing workloads but limited resources, legal tech is emerging as a critical partner to help in-house teams and lawyers best serve their business partners and clients. That's why we're excited to be a part of the 15 legal tech companies that have raised funding to help solve this problem. Read more about LegalOn and the broader legal tech ecosystem in this article by Business Insider: https://lnkd.in/gudvekxq