Lexcheck Raises $17M To Automate Common Contracting Processes
12/14/22, 3:45 PM
Location
new yorkMoney raised
$17 million
Industry
privacy and security
professional services
information technology
software
education
Investors
Mayfield Fund
VCs continue to bet big on legal tech. According to Crunchbase, firms have invested over $1 billion in legal tech companies, an uptick from the $512 million invested last year. Contract management vendors have benefitted in particular as contracting workloads increase; contracting teams at large organizations now manage an average of 19,000 contracts a year while the busiest organizations manage more than 50,000, according to a 2021 EY survey.
Company Info
Location
new york, united states
Additional Info
LexCheck frees legal teams to bring strategic value to the business by simplifying and accelerating commercial contracting processes.
LexCheck delivers on this promise by creating digital playbooks—based on industry best practices or bespoke to each company’s contracting standards—that automate first-pass contract reviews by delivering redlines, comments, contextual insertions and deletions, and automatically escalating deviations against playbook preferred positions in minutes.