Top stories include: CLOC to open Euro chapter – big news for inhouse legal teams & their tech vendors + Peppermint has a bout of growing pains + the Insider launches legal tech startup initiative – who’s hot & who’s not?
Mishcon de Reya has today (18 January) launched a technology incubator programme – MDR LAB – for tech startups, that will see the UK top 35 law firm welcome a number of startups into the business for a ten week period in summer 2017.
London-based legal tech startup Juro has raised $750k (£615k) in seed funding for its AI-enabled workflow tool for legal contracts. The round included contributions from Berlin-based Point Nine Capital and London-based Seedcamp.
Next generation document analysis startup TagDox officially steps out of beta today (16 January) after a whirlwind three months that has seen Tony Angel, former Linklaters managing partner and senior partner and global chairman of DLA Piper join its advisory board.
Disruptive online legal recruitment marketplace Route1, which since it was founded in 2015 has won over 100 legal employers in the UK and Australia including Linklaters, Clifford Chance, Shearman & Sterling, Herbert Smith Freehills and DLA Piper, has launched a new initiative that will see it give a donation to charity instead of rewarding lawyers who refer colleagues and friends to a successful job application.
Wait… a UK government minister goes all the way to Tel Aviv to praise the Israeli legal tech startup scene?
Earlier this week the UK Minister of State for Digital & Culture Matt Hancock, said Israel was ripe for creating disruption in the global law profession at an inaugural legal tech event held in Tel Aviv. Well good news for LawGeex but hello minister, shouldn’t you be promoting the UK legal tech startup scene?
The latest issue of the Legal IT Insider newsletter is out now – read it here free – we’re loving this quote by Daniel Pollick of DLA Piper “2016 was the year Legal AI went from bleeding edge novelty to me-too mimicry but without a clear direction.”
Linklaters has set up a global innovation committee comprised of partners and business service leaders from across the firm, designed to act as a focal point and platform for new technologies and ideas.
Headquartered in Silicon Valley, PandaDoc is a web-based contract automation and transaction management platform. Described as ‘a one-stop-shop to going paperless’, it merges dealroom capability with document tracking and analytics, and offers its own proprietary e-signature capability. While its legal clients are very much in the minority, they are growing. We find out more.
Welcome to the latest issue of the Legal IT Insider newsletter – October/November 2016 #297 – TOP STORIES INCLUDE:
• Law firms courting FinTech startups – Slaughter and May + Addleshaw Goddard already in – who’s next – and for how much?
• So sad about hacking: Pessimistic cybersecurity – a necessary evil? The Insider talks to Mike Lynch + Howard Russell + Marcel Henri + Dan Carmel
• Neota Logic partners with Clifford Chance + BLP offering bespoke document automation + RPC providing in-house litigation support
• NetDocuments & iManage continue to duke it out in the DMS market as more firms abandon OpenText & SharePoint sinking ships + Have we seen the high-tide of InterAction in the CRM sector as OnePlace wins another deal + momentum building for Elite 3E as firms switch from TRE Enterprise & Envision
Joint ventures between law firms and startups are still far from common (in fact, we’d go as far as to say still rare) but in Australia, Corrs Chambers Westgarth has become the latest local firm to invest in a startup, in an alliance with Canadian AI contract review specialists Beagle.
Henry Allan, Founder and CEO of Route1, commented: “We believe that setting our fee rates at this level will help to rebase expectations in the industry and bring an end to high pressure cold-calling by recruiters, serving to put more control back in the hands of employers and candidates.”
Bird & Bird has today (21 October) unveiled its Digital Innovators Power List, which celebrates some of the most visionary digital companies in and around London and includes cybersecurity firms ComplyAdvantage and Darktrace.
Law Made is to raise a US$20m early stage startup investment fund as its founders add ‘venture capital’ to the portfolio of services they offer new and emerging legal businesses.
The Toronto-headquartered legal innovation pop-up, set up by ‘chief legal provocateur’ Jason Moyse and ‘chief innovation operative’ Aron Solomon, co-founders of MaRS Discovery District’s LegalX Cluster, first publicly announced the intention to raise the fund at yesterday’s (18 October) Legal Geek startup conference in London.
Janders Dean has this month begun using an artificial intelligence-based bot to liaise with its clients and contacts and schedule meetings.
x.ai personal assistant Amy has since the start of October scheduled close to 20 external meetings for the legal industry management consultancy, ranging from meetings at the Janders Dean offices to partner sessions at its clients’ offices. Her interaction with clients follows a successful internal pilot that began in June.