Bryan Cave Leighton Paisner (BCLP) has continued its spate of innovation launches, combining parts of its transatlantic innovation teams to create an in-house consultancy, Cantilever.
Cantilever will aim to provide an operational and technology sounding board for clients, while also offering practical technology solutions across areas including contract, matter and litigation management. Continue reading “‘Not just a generic consultancy’: BCLP launches in-house innovation and technology arm”
Linklaters has bolstered its technology clout with the hire of Ashurst’s well-regarded head of global IT, Bruna Pellicci.
Pellicci becomes the Magic Circle firm’s chief technology officer (CTO) after more than 11 years at Ashurst, five of which were as the firm’s global IT director. Continue reading “Linklaters finishes tech jigsaw with hire of Ashurst’s global IT head”
TLT has created a £500,000 investment fund to help test technology and other ideas more quickly before providing them to clients.
The initiative, called Future Law, is expected to generate revenue this year and will be led by digital sector head James Touzel. The firm has ring-fenced the fund as part of its budget for this year. Continue reading “‘Legal catching up’: TLT launches £500k fund to improve tech and consulting lines”
Competition for access to legal tech start-ups is heating up as global multimedia giant Thomson Reuters and City blueblood Slaughter and May tool up for legal tech incubator launches early next year.
Thomson Reuters is accepting applications for its first dedicated legal tech incubator until the end of this month, with further details expected to be announced in December. The company is shifting its focus towards legal tech, having also hosted a fintech incubator in Zurich, following the sale its financial risk business earlier this year. Continue reading “Expectations high as Thomson Reuters and Slaughters ramp up legal tech incubator competition”
Often described as the legal equivalent of Uber, flexible lawyering start-up Lexoo has secured $4.4m in financing to overhaul its global business development.
The backing has been led by investment house Earlybird with additional financing from Forward Partners and Zoopla general counsel (GC) Ned Staple. Continue reading “‘Part of a wider trend’: Flexible lawyering start-up Lexoo secures $4.4m for business development overhaul”
Maritime and insurance specialist HFW has set up a standalone consultancy arm, branded HFW Consulting.
The new business, launched today (3 October), will be headed up by the firm’s director of learning and development, Chris O’Callaghan, and will initially focus on Middle Eastern, Asian and Australian clients. Continue reading “‘The right opportunity’: HFW reacts to client demand with strategic consultancy business”
US legal services provider UnitedLex has landed a $500m war chest to capitalise on a ‘multi-billion dollar opportunity’ after private equity giant CVC Capital Partners acquired a majority stake in the business.
UnitedLex has grown to more than 2,700 lawyers, engineers and consultants since it launched in 2006, providing legal services to clients across 18 countries. It says it has signed contracts worth $1.8bn in the last 18 months, including high-profile deals with DXC Technologies and GE. Continue reading “New Law leader UnitedLex targets rapid expansion after acquisition by PE heavyweight CVC”
In a significant benchmark for the legal tech sector, leading AI platform Kira Systems has sealed $50m of private equity backing from New York-based Insight Venture Partners, as legal tech companies continue to prime for growth.
The investment, announced today (5 September), is the first external backing the AI company has received since its inception in 2011, with ex-Weil Gotshal & Manges associate and co-founder Noah Waisberg and Kira CTO Alexander Hudek initially funding the start-up themselves. The company saw year-on-year revenue growth of more than 100% for 2017. Continue reading “Start me up: Highly-rated legal AI platform Kira secures a record $50m in private equity backing”
Legal tech start-up Apperio is switching to growth mode after closing a $10m funding round that will enable it to double in size to 40 staff and expedite further expansion into the US market.
Apperio, founded in 2013 and formerly called Legal Tender, is a platform that provides companies with real-time transparency on legal fees while tracking matters. It can also be used to assess and monitor law firm performance: features which combine to both manage in-house budgets and help general counsel (GC) show value. Continue reading “‘Europe’s waking up to legal tech’: another hefty funding round as start-up Apperio raises $10m”
A start-up from Allen & Overy’s (A&O) Fuse innovation hub is one of the first 17 companies to join banking giant Barclays’ legal technology lab.
Deal platform Legatics, which has been in Fuse for each of A&O’s first two cohorts, has taken up residence at Barclays’ 100-person LawTech Eagle Lab in London’s Notting Hill. AI provider ayfie, contract generator Ginie AI, and document collaboration platform Annotate are the only other start-ups in the lab to have been named. Continue reading “A&O Fuse start-up among first to take space at Barclays’ law tech lab”