LegalTechTalk

fynk, a startup that simplifies and democratizes access to AI-powered solutions, raised a €3.1 million funding round. Investors, including 3VC and 10x Founders, are backing fynk based on its strong early traction and product-market fit. fynk focuses on providing value for money with features that can save up to 90% of the time typically spent on contract-related tasks. Its intuitive solution for analyzing, managing, and processing contracts, powered by innovative AI technology, makes these powerful tools cost-effective and accessible for small and medium-sized businesses, startups, and agencies. “We are excited to have secured two renowned investors, 3VC and 10x Founders, whose passion for exceptionally user-friendly products matches our own. The strong renewed commitment from our existing investors also underscores their immense trust in our phenomenal team,” said Constantin Wintoniak, CEO of fynk. https://lnkd.in/eNQMbren #LegalTechTalk #LegalTech #Legal #Law #Funding #AI

Pramata announced a new strategic alliance with Deloitte. The organizations’ mutual clients can leverage Pramata’s simple, generative AI-powered contract management and analytics solution with Deloitte’s corporate Risk, Regulatory, and Forensic advisory services to increase visibility into contract data and hierarchies that can span multiple systems and business units. “What if you had the power to improve the efficiency of your contract-related operations across traditionally siloed teams and gain deeper insights into key revenue levers? With new Generative AI-based solutions, you now have access to that power,” said Jessica Anderson, Deloitte Transactions and Business Analytics LLP. Praful Saklani, CEO, Pramata, added, “For most companies, reliable data on contracts is either non-existent or unreliable. As the first Generative AI-enabled contract solutions platform, Pramata combines accurate contract data with the ability to build GenAI applications to boost their operational decision-making capabilities, automate routine tasks and vastly improve their bottom lines. Collaborating with Deloitte allows our clients to embed their domain experience, accelerate time to value, increase the precision of GenAI output and complement existing contract management efforts.” https://lnkd.in/eJdQCr6m #LegalTechTalk #LegalTech #Legal #Law #Partnership #AI

Draftable, one of the world’s leading document comparison software companies, signed a three-year contract with leading international law firm Allens. Allens’ 1,500 Australian employees will use Draftable Legal to streamline their document review processes, allowing them to spend a greater proportion of their time focused on delivering high-value legal services. “Draftable Legal is the modern comparison solution I wish I had during my time working in a law firm. Document comparison is a key, yet time-consuming task, and the industry has been in search of an easier, more intuitive approach. Streamlining this critical workflow with ease and efficiency enables those working in the legal profession to engage in higher value, intellectually stimulating work,” said Draftable Product Specialist and former lawyer Yulia Gosper. “The team at Draftable was very responsive to feedback and, because of this, we could start extracting value from the technology much more quickly. By using Draftable, our people will spend less time on manual tasks and more time on the work that really matters to our clients,” said Bill Tanner, Chief Information Officer at Allens. https://lnkd.in/efxdnTVK #LegalTechTalk #LegalTech #Legal #Law #Partnership #AI

In today’s competitive legal market, meeting rising client expectations is critical. Firms that fail to prioritise the client experience risk losing business to more agile competitors. In partnership with Leya, we're hosting a webinar where industry experts will share how leading law firms are reshaping their services, communication, and culture to stay ahead of client demands. You’ll gain actionable strategies to retain and grow your client base, and learn how innovative tools like electronic data, ediscovery, and the cloud are reshaping client-centric practices. Tune in for our expert panel that will discuss: - Shifting client expectations - Transforming culture, communication, and services to meet client needs - Using technology to stay ahead Link to register in the comments. #LegalTransformation #ClientExpectations #Legal #LegalTech #LTTWebinarSeries #Insights

Debevoise & Plimpton announced that Gordon Moodie, a senior mergers and acquisitions lawyer, is joining its New York office as a partner in the Mergers & Acquisitions Group and Public Company Advisory Group. A broad-gauged dealmaker and a sought-after advisor to corporate boards, Gordon will advise the firm’s clients, including public companies, boards, special committees and private equity sponsors, on the full spectrum of M&A transactions, including those in the technology and AI sectors and with complex corporate governance aspects. Gordon Moodie said, “I have long admired Debevoise for its distinctive culture of teamwork and collaboration, the excellence of its lawyers, its strength across M&A and related practice areas and its growth in the vibrant M&A market on the West Coast. Debevoise provides an extraordinary platform for combining my experience in M&A and technology, and I look forward to serving the firm’s clients.” https://lnkd.in/eF67hk84 #LegalTechTalk #LegalTech #Legal #Law #PeopleMoves

Gerard Wentink, former business development director at Baker McKenzie, will join KLERQ as a co-shareholder on the 1st of October. With his extensive experience in the legal sector, he will contribute to the growth of KLERQ, the Netherlands' newest Legaltech aimed at the commercial side of law firms. “The role of business development in law firms has changed rapidly in recent years. I believe that KLERQ, with its innovative platform, enables law firms to successfully embrace these changes. From personal experience, I know how inefficient traditional marketing and business development processes in law firms can be. My decision to invest in KLERQ stems from my vision of using innovative technology to optimise these processes, thereby saving time and money.” said Gerard Wentink. “I couldn’t have imagined a better partner. It’s an honour to be part of a team with Gerard once again. He is an authority in business development within the legal sector and is a tremendous asset to KLERQ” said Jorn Vermeulen, CEO and co-founder of KLERQ. https://lnkd.in/exq9qR85 #LegalTechTalk #LegalTech #Legal #Law #AI #PeopleMoves

In an insightful interview, Stine Mangor Tornmark, CEO and Co-founder of Openli, shed light on the data privacy challenges legal teams face. She highlighted the complexities of navigating multiple regulations across jurisdictions while supporting business operations and managing the growing volume of data processed by various tools and vendors. Stine emphasised the potential of technology to address these challenges, with AI tools capable of identifying risks, automating tasks, and optimising data management. This enables legal teams to focus on strategic privacy initiatives while maintaining data security. As digital transformation accelerates, Stine highlights the importance of prioritising data privacy and conducting business with integrity, respecting individuals' rights to data protection. https://lnkd.in/ebBvkPeX #LegalTechTalk #LegalTech #Legal #Law #AI

Fennemore, with its fifth combination this year, aims to gain expertise from Lucent Law, PLLC flat-fee pricing models for business formations, real estate purchase and sale agreements, and estate planning matter. “We are pushing in on alternative fees,” James Goodnow, chief executive of Fennemore, said in an interview. “Those that don’t are missing the boat. As you have these great new technologies that drive efficiencies, the question is, how do you price that?” Law firms have struggled to adopt alternative fees, partly due to concerns over how accurately they can forecast budgets for individual matters. Fennemore will view its return on the AI investment by how much “non-billable time” is eliminated for lawyers and how profit margins from alternative fees compare with hourly work, Goodnow said. https://lnkd.in/e-GQt6v6 #LegalTechTalk #LegalTech #Legal #Law #AI #Acquisition #Merger

Professionals in the legal, tax & accounting, and risk & fraud industries largely agree on the ethics of AI — but when a recent report finds some parties are more willing to allow AI to dispense advice than others, misalignment can easily follow. The areas in which industry professionals differ, however, is in allowing AI to provide advice or make strategic recommendations. Only 17% of legal professionals said they thought allowing AI to provide legal advice would be ethically acceptable; but among risk & fraud professionals, 57% said they believe using AI to provide advice or strategic recommendations is acceptable — and among tax & trade professionals, that figure rises to 65%. “AI is just that — artificial,” said one United Kingdom-based law firm partner told researchers of the Thomson Reuters Institute’s Generative AI in Professional Services report earlier this year. “There are well-known examples of generative AI citing cases which do not exist. People need people to understand them and their needs, not algorithms. AI could be used for simple administrative tasks, but not for substantive legal work and generating documents.” https://lnkd.in/ehu-VBny #LegalTechTalk #LegalTech #Legal #Law #GenAI #AI

PwC UK announced that Lewis Bretts has joined as a Partner in its Legal Technology team, who provide innovative, tech-focused and efficient solutions for corporate legal departments. Lewis brings specific experience in building and delivering global legal technology, CLM, and managed legal services solutions, and will focus on PwC UK’s AI, legal technology and managed legal services offering. Lewis Bretts, PwC UK partner, said, "I am thrilled to join PwC at such an exciting time for the world of legal and contracting innovation. With a background that spans commercial law, legal technology implementation, and alternative legal services, I look forward to contributing to PwC's innovative approach in helping clients transform the way they manage their contracts and deliver legal services.” https://lnkd.in/eqq4DNiB #LegalTechTalk #LegalTech #Legal #Law #PeopleMoves