Lexcheck Raises $17M To Automate Common Contracting Processes
PRIVATEDec 14, 2022
Amount Raised
$17 Million
Round Type
Funding Round
New YorkInformation TechnologyProfessional ServicesSoftwareEducationPrivacy And Security
Investors
Mayfield
Description
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 Information
Company
LexCheck
Location
New York, United States
About
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.
Fundz sees it the moment LexCheck raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
New YorkInformation TechnologyProfessional ServicesSoftwareEducationPrivacy And Security