LegalOn Technologies has raised $50 million in Series E funding to enhance its AI-driven contract review platform. This Japanese startup, backed by SoftBank and Goldman Sachs, boasts a Review tool that cuts document review time by 85% while significantly improving accuracy. LegalOn’s platform identifies contract risks and recommends edits based on expert legal insights, serving over 7,000 clients across Japan, the US, and the UK. The company plans to introduce AI agents to assist in tasks surrounding contract reviews, such as tracking and workflow integration. Additionally, their new Matter Management tool facilitates efficient document collaboration and contract responsibility assignment. While advocating for the growing adoption of legal AI, CEO Daniel Lewis emphasizes that this technology is designed to support, not replace, legal professionals. He asserts that those who leverage AI effectively will enhance their legal judgment and workflow. For more insights into AI, tech, and digital diplomacy, engage with our Diplo chatbot!
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