The legal tech landscape is continually evolving, with new partnerships and technological advancements emerging. Here’s a rundown of the latest strategic moves and innovations reshaping the industry.
Strategic Alliances Bolstering CLM and Legal Compliance
Agiloft, a leading provider in contract lifecycle management (CLM), has welcomed risk data giant Kroll into its service partnership network. Steve McKean, Agiloft’s VP of Global Alliances, expressed excitement about this expansion, which will draw upon Kroll’s extensive expertise in managing complex contract systems across various sectors.
Investments Fueling Legal Tech Growth
Allen & Overy’s legal and compliance data subscription platform, aosphere, is set for significant expansion. With a strategic investment from Inflexion Private Equity, along with contributions from Allen & Overy and Endicott Capital, aosphere is branching out as an independent entity, although the law firm will retain a considerable minority stake.
Innovative AI Solutions Streamlining Legal Operations
Bryan Cave Leighton Paisner (BCLP) has entered into a collaboration with Orbital Witness to incorporate the startup’s AI-powered lease reporting solution, Orbital Copilot, into their real estate practices across the U.S. and U.K., enhancing the legal services offered.
Directories and APIs Enhancing Legal Tech Accessibility
ILTA has launched a new Sponsor Directory, acting as a comprehensive resource for members to explore legal tech solutions. Additionally, LawPay unveiled an API integration with Aderant’s practice management systems, facilitating smoother financial transactions and data management for legal professionals.
Lex Machina Extends Analytics to Class Action Litigation
Lex Machina has expanded its legal analytics offerings to include a new practice area—class action litigation. The module adds over 140,000 cases to its database, complete with specific damages and estimated class sizes.
Enhanced Note-Taking and Document Analysis
LiquidText’s latest update introduces Locked Workspace Objects and Text Styles, providing users with more control and customization options for document analysis and note-taking.
Merlin Introduces AI-Powered Discovery Tool
Merlin Search Technologies released Sherlock AI, a large language model powering its DiscoveryPartner platform. This tool aims to revolutionize document search and analysis, bringing efficiency to the discovery process.
Strategic Leadership Adds Value to Legal Marketing
Proxy PR has bolstered its team with the addition of Megan Haight as the new director of brand strategy. Haight’s experience will be pivotal in crafting cohesive brand strategies for the agency’s clientele.
Collaborative Efforts to Advance eDiscovery and Compliance
Redgrave Data and Purpose Legal have announced a strategic partnership, leveraging their combined expertise to enhance eDiscovery, information governance, and compliance services.
AI-Powered Contract Assistance Now More Accessible
Robin AI has launched a free Microsoft Word add-in for its LLM-powered contract copilot, making AI contract assistance more accessible to its users.
Thomson Reuters Amps Up Investment in Generative AI
In a strategic move, Thomson Reuters is updating its investment approach to generative AI by focusing on product development, partnerships, and employee upskilling. This precedes the impending “enhancements” to their Westlaw Precision product.
Traact Unveils All-In-One Legal and Administrative Platform
Startup Traact debuts its multifaceted technology platform designed for both corporate legal departments and law firms, offering solutions for entity management, matter management, and document control, among other functionalities.
These updates reflect a robust and dynamic legal tech environment where partnerships and technological innovation continue to drive growth and efficiency in legal services.
