LegalOn Secures $50M for AI-Driven Legal Workflow Automation
Summary
- LegalOn raised $50 million in new funding.
- The company uses AI to streamline legal contract review.
- Its Review tool identifies risks and suggests edits.
- LegalOn claims its software cuts review times by up to 85%.
- The platform is used by 7,000 organizations globally.
Overall Sentiment: 🟢 Positive
AI Explanation
LegalOn, a company specializing in AI-powered legal workflow solutions, has successfully secured $50 million in funding. The company's flagship product, Review, leverages artificial intelligence to automate and streamline the contract review process for legal teams. It identifies risks and proposes edits based on pre-defined playbooks and customer-specific legal standards, aiming to significantly reduce review times and enhance accuracy. LegalOn reports substantial adoption, with 7,000 organizations using its platform globally and a leading position in the Japanese market, serving 25% of its public companies.
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