Allen & Overy’s tech space and incubator, Fuse, has today announced its fifth cohort, and it’s a large one, with 11 new companies joining this time, (see full list below). As before it’s a combination of legal tech and fintech.
As to why the firm is keen on fintech – see Friday’s interview with Fuse’s management team, Shruti Ajitsaria and Jonathan Brayne.
Fuse alumni: Avvoka, Define, Legatics and StructureFlow, will continue in residence. So, in total, they’ll have 15 tech companies inside Fuse.
The New Cohort:
Atticus – makes the process of verification more efficient, whilst also reducing risk with clear protocols and version control and improving the experience of verification for all stakeholders.
CiteRight – helps litigation teams by making it easy to create a library of reusable research and court submission materials on its collaboration platform.
Draftwise – helps lawyers to draft new contracts, quickly find relevant precedents and manage preferred clauses and defined terms, all within Microsoft Word. (Artificial Lawyer has seen a special preview of Draftwise, which lists several key staffers from Palantir, and it looks very promising. One to watch…!)
Greenomy – simplifies the process for achieving continuous compliance with ESG and sustainability regulatory disclosure requirements.
Humanloop – helps lawyers to rapidly train AI systems that can classify contracts or extract key information from documents.
Amplifi – helps internal legal teams objectively assess and simplify the language used in contracts and other legal documents.
Arteria – helps organisations contract faster and turn executed contracts into data by applying artificial intelligence and a data-first approach to the drafting, negotiation and analysis of contracts. (AL has covered this company a couple of times now – they are a spinout from Deloitte – and they just bagged $11m.)
Elliptic – helps law firms with forensic investigations on cryptocurrency transactions. It also provides due diligence on Virtual Asset Providers and consultations on crypto compliance.
Liquidly – helps private banks and fund managers to provide investors with the option for liquidity by building custom, closed marketplaces.
Solidatus – empowers organisations to effectively map, manage and monetise their key asset – data. (They recently bagged a £14m series A round).
Vault Platform – helps lawyers and other investigating parties take an innovative approach to increasing the quality of misconduct reporting and resolution. Vault provides an auditable, centralised system of record for all misconduct reported to the company. (Also kind of a HR application really….but, classification of tech has never been easy…)
So, there you go. That’s a lot of new tech arriving at Fuse and no doubt plenty of insights will be gained on both sides. As this site always says: incubators are a win/win for the firm and the participants. And also hopefully for the clients as well.
The cohort is a real mix, from drafting support applications, to systems that will hopefully improve NLP usage, to tools to make better use of data. All in all, an overflowing cornucopia of new software and ideas.
Plus, as a special bonus, here’s a short video from Fuse about what the 2020 cohort got up to. It’s about 4 mins.