“It`s no secret that SoftBank Ventures has one of the best networks in the ecommerce industry,” Mark Lee, CEO and founder of MarqVision, said in a statement. “Thanks to SoftBank`s investment and MarqVision`s existing industry connections, we are now poised to revolutionize the $120 billion intellectual property legal industry through the use of our proprietary AI technology.” SoftBank Vision Fund 2 led the growth cycle of London-based ContractPodAi, which offers an AI-powered contract lifecycle management platform. This is the first time the SoftBank fund has invested in a legal technology company, according to ContractPodAi. With new funding, Clio is becoming a law firm management `unicorn` and private equity firms have “really realized how important [the legal tech market] is and how underserved it is” in recent years, Sarvarth Misra, co-founder and CEO of ContractPodAi. LegalForce, which uses AI to filter contracts for loopholes and potential legal risks, said other participants in the round included new investors Sequoia Capital China and Goldman Sachs Group, as well as existing backers Mitsubishi UFJ Capital and Mizuho Capital. SoftBank`s investment in LegalForce is well below the billions invested by Vision Fund at its peak, reflecting founder Masayoshi Son`s cautious new approach. The company posted a record loss of 1.7 trillion yen in the year that ended in March, when a global slowdown in tech stocks deflated its big bets on companies such as China`s Didi Global Inc. and South Korean e-commerce leader Coupang Inc. When a company like SoftBank Group Corp. invests in a legal tech startup — which is also backed by Y Combinator — it makes you stop and look.
In this case, his AI-based IP protection company MarqVision (YC S21) – which seems to have a bright future ahead of it. It was also founded by Harvard Law School graduates and seeks partnerships with law firms. AL did some research. #legaltech #investment #IP #startup #brand “SoftBank clearly made a conscious decision to enter the legal market,” said Bryant of Knox Capital. In short, yes. While this money appears to come from the Ventures arm and is nowhere near the kind of money SoftBank has sunk into companies like WeWork through its Vision Fund, it`s very remarkable to have such massive support. And as far as Artificial Lawyer can see, he`s never invested in a legal tech company. Like other investors, SoftBank sees the relatively old legal industry as ripe for innovation. But as many legal tech companies have discovered, the secret to success isn`t just having some of the software features you need, it`s about bringing them all together with a good UI/UX, simple and intuitive workflows, great customer support and service, and a simple and meaningful pricing model. And of course, everything works. Rocket Lawyer raises $223 million as investors bet on legal services “SoftBank is an amazing company.
All the incredible companies that invest in early-stage companies have a relatively high loss rate compared to late-stage companies,” said Patrick Chung, a partner at venture capital firm Xfund Capital, which has made legal technology investments like Ravel. “You`re always looking for advantage. Every company has companies that go bankrupt. Stay away from FAANGs, but stay invested in technology: Strategist ContractPodAi, founded in 2015, will use the funds to expand its technical capabilities and expand into new markets, including the APAC region, Misra said. “We believe the company`s modular, single-platform approach goes far beyond managing the lifecycle of existing contracts to capture a variety of legal use cases across multiple jurisdictions,” Ayush Jain, an investor for SoftBank Investment Advisors, said in a statement. Jain will join the company`s board of directors as part of the agreement. Definely and Medigold Health Case Study – Maximizing Internal Efficiency > Thanks to Sebastian Goldsmith, General Counsel, Medigold Health, for sharing how+ why he uses Definely to increase internal efficiency in this case study sponsored for AL. #legaltech #legalops #contracts #drafting #sponsoredcasestudy lnkd.in/e9D5xfMv SoftBank Group`s Vision Fund to Lead 13.7 Billion Yen ($101 million) Series D Funding Round to the startup Japanese LegalForce. in the fourth edition of the world`s largest technology investor in its home country.
ContractPodAi Technologies announced Thursday that it has raised a $115 million investment in Series C, joining a parade of legal tech companies that have secured new funding this year as the industry pulls out. ContractPodAi`s “platformization strategy,” as Misra called it, could see use cases for its technology in areas such as privacy compliance or intellectual property and process management, he said.