StructureFlow Raises $6m To Expand Legal Data Visualisation

StructureFlow, which turns textual legal data into visualisations, has gained $6m in a Series A funding round led by FINTOP Capital – which has also invested in Legatics. The company’s total funding is now at $15m.

The investment will be used to ‘further leverage AI to accelerate its product development and grow its international presence’, the UK-based company said, with a strong focus on increasing the capabilities of its import functionality.

The company was formed in 2017 and has pioneered the process of turning subjects such as corporate structures into highly customisable and interactive visual representations.

Part of the goal now is to make it even easier to import data from across a lawyer’s desktop into StructureFlow from multiple sources, such as emails, other diagrams a firm may already have, contracts and additional documentation, as well as other datasets and public records.

All of this is then transformed into a visual representation, showing the relationships between the constituent elements. This helps lawyers and their clients to move more rapidly through a deal and also ensure their teams can clearly see what is happening and what will be created by a transaction.  

What StructureFlow can do.

Tim Follett, CEO & Founder of StructureFlow, told Artificial Lawyer: ‘We will be using the money we’ve raised to invest in the product and over the coming months will be expanding and polishing this import functionality further.

‘We basically want to digitise the diagramming workflow, allowing you to fast track diagram creation by importing various data sources and ‘building up your picture’. [Before StructureFlow] a lawyer creating a diagram would have to read various source materials beforehand (contracts, emails, existing diagrams), work out what is going on, what the core entities and relationships are, and then start drawing.’

He added that GenAI has a key part to play here: ‘We can fast track all this with generative AI, lightening the mental load on the lawyer and dramatically accelerating the time to desired output.’

The company added that visualisation is not just an improvement on wading through masses of text, it is ‘critical for busy legal and finance professionals trying to cut through the complexity of intricate corporate relationships’

‘From the first mapping of J.P. Morgan’s structure in the early 20th century to the recent dismantling of FTX’s collapsing crypto empire, structure charts have consistently served as integral tools to see the big picture, enabling teams to work through the legal, financial and regulatory detail to find the best outcomes for their clients,’ they added.

Chris Haley, Partner at FINTOP Capital, concluded: ‘Legal and professional services around the world are feeling the strain from decades of economic, technical and social upheaval and are crying out for change.

‘As both a former lawyer and former operator of technology scale-ups myself, I was struck by the clarity of Tim’s vision for StructureFlow, and the quality of the team that he has built around him to deliver on the promise of cutting through complexity. Change is coming to this industry, and Tim and his team, with their deep expertise across legal, SaaS and legal tech, are extremely well placed to deliver it.’

The Series A round also saw follow-on investment from Venrex, part of Select Equity Group, a leading US asset management fund.

StructureFlow is now used by over 50 major legal and professional services firms, such as Baker McKenzie, Bryan Cave Leighton Paisner and Norton Rose Fulbright, Slaughter and May, A&O Shearman and Linklaters.