AI Co.s Digitory + Specifio Join LexisNexis LegalTech Accelerator

Global legal publisher – and tech company – LexisNexis has announced the six new participants for its third Silicon Valley Legal Tech Accelerator programme.

The six companies are:

  • Digitory Legal: Uses AI to transform and analyze billing data and create predictive pricing models for complex legal work. Once the fee arrangements are set, customers can leverage our platform to manage budgets and resources throughout the life of their matters, (see AL 100 for listing).
  • Specifio: Changing the way patent applications are created through advanced natural language generation, (see AL 100 for listing).

And,

  • Disputly: Builds consumer legal technology to resolve disputes efficiently and affordably.
  • Justis Connection: Focused on connecting top legal talent of color to local residents of color. Justis Connection is committed to empowering communities through active engagement and education that teaches fundamental rights and responsibilities in the law.
  • Procertas: A competency-based learning platform with an initial focus on get legal professionals and law students proficient with the core technology tools of their trade (e.g., Word, Excel, PDF).
  • Attune Capital Group: Details metrics from transaction agreements in order to analyze, determine and monitor “what is market” for selected transaction parameters, across different types of transactions over different time periods.

LexisNexis said that throughout the 10-week curriculum, Legal Tech Accelerator participants will ‘gain knowledge and expertise in a variety of topics, including technology and product development, running an agile product development organisation, building a strong company culture, selling to legal departments and law firms, leveraging legal data, and identifying best practices in customer success, marketing and fundraising’.

Jeff Pfeifer, Vice President Product Management, North America, added: ‘Past participants tell us that the programme is valuable both for the learnings in the curriculum and for the peer networking with other cohort companies. We look forward to helping this new group of startups take their vision and business practice to the next level.’

Participants will be based in the Menlo Park, CA, offices of legal AI research application Lex Machina and at the Raleigh Technology Center for LexisNexis on the Centennial Campus of North Carolina State University.

The fact that LexisNexis is now into its third season of the accelerator, and that law firms such as Mishcon de Reya and Allen & Overy also continue to repeat and grow their own accelerators/incubators tells us two things:

There is clearly demand from the legal tech startups out there to be part of these programmes as they provide great training, a reality check, feedback, and can help to support (sometimes quite indirectly) access to investment.

The second point is that the supporters of these programmes also see value. They are not cheap to run and no business invests time and money in this way unless they see a win-win. For the backers, they get to learn more about new tech, potentially with a chance to invest in it, and in general it helps to spread new approaches and thinking about legal process problems that otherwise they may not have discovered on their own.

And, it’s great to see two startups that are listed in the AL 100 directory become part of this prestigious accelerator. Well done to everyone!

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  1. Non-Sequiturs: 09.23.18 – Doris Pham
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