Dentons’ tech innovation platform NextLaw Labs and tech fund Seedcamp have announced their backing for two new legal tech companies, Clause and Libryo, which will receive investment, training and mentorship.
The two companies were chosen out of 80 potential startups for investment, following a call for applications for investment and support from NextLaw Labs and Seedcamp.
According to Crunchbase.com, Clause and Libryo both received around $75,000 in funding in early October this year.
The news follows NextLaw Labs and Seedcamp forming a partnership earlier this year. The two new companies add to ROSS Intelligence, Apperio and Doxly, which NextLaw Labs is also already backing.
Libryo, founded in South Africa but now based in London, UK, is a SaaS platform built to overcome regulatory complexity. Libryo provides an intuitive dashboard which lists all legal obligations enabling any person working in any organisation to understand the legal obligations in any situation.
Clause is a New York-based startup that is building an infrastructure for the next generation of automated and data-integrated contracts for enterprise. Through Clause’s platform, contracts are capable of being managed and updated in real-time through integration with the Internet of Things, analytics services and web-service APIs.
Peter Flynn, co-founder and CEO at Libryo commented: ‘We are delighted to receive the validation and business boost that comes from receiving co-investment from Seedcamp and Nextlaw Labs. [Their] network has already been invaluable to us, with access to some of the top thinkers in the startup world at the moment, not just theorists, but guys who’ve actually done the stuff. We expect great things from this partnership.’