London-based Juro has raised $750k (£615k) in seed funding for its legal contract workflow automation tool.
Through its integrated contracts workflow system Juro allows companies to save time on contracts through automated contract generation, negotiation, e-signing and management.
Juro also uses machine learning algorithms to understand the data within contracts and learn from it. It also provides negotiation heatmaps and contract analytics.
The company stated that it has several early customers already, including fast-food delivery company Deliveroo.
Juro CEO, Richard Mabey, said in a press statement: ‘Juro is all about redesigning the way that businesses interact with contracts. Over time, advances in AI are going to transform legal processes.’
‘By augmenting contract workflows with machine learning, we are shifting the paradigm in the way legal work is done. We’ve come a long way since the days of Microsoft Word, email and hand signing; and can do much better.’