As ever, there is always loads happening in the world of legal tech, so here’s a digestible news wrap for your Friday. Enjoy.
Legal Complex Launches New Legal Tech Investor Dashboard
Following popular demand, Dutch-based Legal Complex, has created a new legal tech Investor Dashboard that builds upon the Spark platform of industry data that was launched earlier this year.
In the AL TV Product Walk Through below, CEO, Raymond Blijd, explains what the new dashboard can do. Artificial Lawyer liked the way you can see all the VCs that have invested in a particular type of tool now. This should be very handy for those companies seeking new investment.
The video is about 7 mins. Press play to watch inside the page.
Estonia’s Avokaado Bags €700K For CLM Platform
Estonian CLM company, Avokaado, has bagged €700,000 ($850,000) in new funding, with some of the cash coming from Hong Kong-based accelerator, ParticleX. It’s further proof that there is a healthy legal tech ecosystem growing all over the world, in markets both large and small – and that different nodes in this system are connecting. It’s great to see this happening.
The Avokaado platform now has users among law firms and corporations in the Baltics, Norway, Sweden, Poland and Belgium.
With the new funding, Avokaado said it is preparing to launch a set of global open-source document templates to add to the CLM platform – which looks like it will be useful.
The startup was founded in 2016 by Mariana Hagström. In 2020 she was recognised in the entrepreneurship category of the European Women of Legal Tech awards. (Picture of some of the team above, Hagström on left).
International Firm Pinsent Masons Inks Reseller Deal with ContractPodAi
Continuing with the CLM theme, international firm Pinsent Masons has partnered with ContractPodAi to provide its clients with the NLP-driven company’s services.
Just recently, KPMG formed a partnership with another CLM company, Sirion Labs, to provide reseller services and also implementation support for the technology to inhouse legal teams.
Reseller deals are a good way for legal tech companies to reach a broader market, while it helps the law firms as they can provide clients with well-developed solutions that clients may want. The firms can also bag some consulting revenue in terms of implementation, if they also offer that type of service.
Mike McGlinchey, Head of Client Consulting, Pinsent Masons, said: ‘As part of our firm’s strategy, we deploy technologies and solutions which work for our clients and address their team’s challenges.
‘With ContractPodAi, we can deliver greater value to our clients by helping them to focus on strategic initiatives by implementing a CLM solution that replaces mundane tasks.’
Sarvarth Misra, co-founder and CEO, ContractPodAi, added: ‘Together, we look forward to adding value for their clients around the world by introducing them to true end-to-end contract management functionality.’
So there you go, looks like CLM is the theme of the week …. (maybe the year?) (See: How Did CLM Become the Hottest Segment in Legal Tech?)
That’s all folks, have a great weekend!
P.S. One for the diary – we had a really successful first Legal Tech Groucho Club get-together yesterday and we’ll be holding the Clubhouse gathering every week, each Thursday, at the same time: 4PM GMT / 8AM PST / 11AM EST. Pop it in your diary and come and join us next week. All are welcome!
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