Eigen Technologies, the NLP/ML company with a focus on law, finance and insurance, has appointed Omar Divina as its new VP Head of Sales & Account Management, joining from fellow AI company, HyperScience. The move is further evidence of how AI companies in the legal market are expanding their sales and marketing teams in order to take more market share amid a growing user base.
Although parts of the legal AI market are seeing something of an overdue period of introspection, in part due to a perception that some systems have not met expectations, the reality on the ground is that more law firms and corporates are using NLP/ML systems than ever before – and among those law firms that have done pilots, even those that have chosen for now to not contract with an AI company generally say they still intend to do so in the short to medium term.
In short, the market for legal AI tools and services is growing, arguably faster than ever before, and although some firms are only using NLP/ML tech in small parts of their practices today, that in turn leaves open huge potential for expansion.
There is everything to play for and the reality is the legal AI market is in rude health after a headlong charge into the market, and the companies involved are still expanding, both in revenue and in staff hiring.
The hire by Eigen is part of its wider expansion plan following its £13m ($17.5m) Series A funding round in June 2018, co-led by Goldman Sachs PSI and Temasek.
Co-founder and CEO of Eigen Technologies, Dr. Lewis Liu, said of the hire: ‘Appointing Omar to lead our Sales & Account Management team shows our ambition for growth with the most demanding clients in financial services, law, and professional services around the world.’
Divina added: ‘I couldn’t be more excited to be working with such a great company and such an immensely talented group of individuals. Lewis is an inspiring leader who has built a remarkable organisation, and I am honoured to be working with him and the team to bring the value of Eigen to companies all over the world.’
Further proof of the growing interest to hire into the legal AI world can be seen with similar moves by iManage’s RAVN arm, as well as Kira Systems, both of which are now beginning a hiring binge – something that would not be possible (or sensible) without the real potential to grow significantly.
For more jobs related to legal tech companies, especially in the legal AI sector, check out AL JOBS. In fact, a new role at RAVN has just been added in the area of customer success.