USA – LexCheck, a NYC-based provider of an AI-powered contract negotiation platform, raised an additional $5m of funding.
The round was led by Ulu Ventures with participation from Kli Capital and Howard Morgan, among other investors. The company intends to use the funds to accelerate growth in the legal technology sector.Led by Gary Sangha, founder and CEO, LexCheck provides an AI-based contract negotiation solution that delivers nearly instantaneous attorney-quality negotiation of contracts ranging from NDAs to procurement and sales agreements to complex investment and acquisition agreements. Its proprietary AI technology can be tailored to a client’s specific needs with minimal training data, while also accounting for business context. Once deployed, LexCheck provides issues lists or revisions to contract language within minutes of uploads, reducing the amount of time attorneys spend reviewing contracts by over 90%.The company plans to continue the rapid growth it experienced in 2021, during which the New York-based company opened new offices in London and Melbourne and increased staff headcount by 3x.24/03/2022
