LawGeex Raises $20 Million, Underscoring Contract Tech’s Resilience in COVID-19 Economy

LawGeex intends on using the capital raised to grow its sales and customer success teams while eyeing a push into other English-speaking territories.

HBO’s Vice News features LawGeex in its latest special report on “The Future of Work.” And in a repeat of the AI vs. Lawyer competition this time officiated by Vice News, the LawGeex AI came out ahead.

On Friday, April 19, 2019, Vice News reported on the technological revolution overtaking the world in transportation, distribution, food service, health – and legal. Read more…

Which products haven’t been imbued with artificial intelligence (AI) at this point? In 2018, analysts pegged the global AI market at a whopping $7.35 billion, buoyed by the influx of machine learning-aided image recognition, object identification, detection, and classification, and geophysical detection startups, apps, and services in every conceivable sector (and particularly enterprise). But as with all promising technologies, not every AI startup, app, and service will pan — or has panned — out, and it becomes harder with each passing day to separate the wheat from the chaff.

Read more...

We wrote about LawGeex back in April when the Tel Aviv, Israel-based artificial intelligence and Software as a Service (SaaS) platform startup raised $12 million in funding to disrupt the $700 billion legal services market. The startup uses AI to remove the legal bottleneck of reviewing and approving everyday business contracts before signing. LawGeex’s AI-based technology has proven to be effective and in a controlled study, shown to be better than top-notch lawyers.