LegalTechTalk

FinLegal, a platform for managing class actions and large numbers of similar claims, is the first South Yorkshire startup to secure £2m investment from the Northern Powerhouse Investment Fund II (NPIF II). Since its launch in 2020, FinLegal is said to have processed over two million claims and is now used by the UK mass claims firm Leigh Day, Australian firm Maurice Blackburn, and a growing number of mid-market firms in the US. The platform’s founder, Steve Shinn, says it can enable legal teams to handle up to six times more claims. He added: “The claims market is ripe for a platform like ours. Many claims are run on a no-win no-fee basis and increasingly there are fee caps, so operating costs are critical. Our solution reduces costs, automates but also improves client care and makes it possible to manage claims at a scale which might otherwise not be viable.” https://lnkd.in/ePGyxS9Q #Legal #Law #LegalTech #LegalTechTalk #Funding

Harvey, a startup building what it describes as an AI-powered “copilot” for lawyers, has raised $100 million in a Series C round led by GV (Google Ventures), Google’s corporate venture arm. The tranche, which also had participation from heavy-hitting angels and VCs OpenAI, Kleiner Perkins, Sequoia Capital, Elad Gil and SV Angel, brings Harvey’s total raised to $206 million and values the firm at $1.5 billion. “This investment will enable Harvey to continue scaling and improving our AI-powered technology across business functions and geographies,” co-founders Winston Weinberg and Gabe Pereyra said. “We will use this new capital to invest in the engineering, data and domain expertise that are fundamental to building AI-native systems that facilitate the most complex knowledge work. We will also deepen our partnerships with both cloud and model providers to integrate additional models into Harvey and broaden our training collaborations to continue improving model efficacy.” https://lnkd.in/exE2sfN7 #Legal #Law #LegalTech #LegalTechTalk #Funding

Legal tech company Clio - Cloud-Based Legal Technology has successfully raised $900 million in a Series F funding round, bringing its valuation to $3 billion. This round, led by New Enterprise Associates (NEA), included significant participation from investors such as Goldman Sachs Asset Management, Sixth Street Growth, CapitalG, and Tidemark. The funds will be used to enhance Clio’s product offerings, particularly focusing on AI and fintech solutions. Clio’s software, which helps law firms automate processes like client intake, accounting, and document management, will see significant upgrades. A notable development is Clio Duo, a generative AI platform designed to help lawyers with routine tasks and leverage data analytics for increased efficiency. This platform includes features like audit logs for court discovery, aiming to streamline legal operations further. https://lnkd.in/eRSRDase #Legal #Law #LegalTech #LegalTechTalk #Funding

What an event it was! With over 2,500 attendees and 300 expert speakers from 65 countries, LegalTechTalk 2024 was a massive success. Over 98% would recommend others to attend, underscoring the value and impact of the event. Thank you to everyone who attended and contributed to making LegalTechTalk 2024 unforgettable. What was your favourite part? Save the Date: We’re excited to announce that LegalTechTalk will return to London next year at the InterContinental O2 on June 26-27, 2025. Mark your calendars and stay tuned for more information! Register your interest here and be the first to know when tickets are released: https://lnkd.in/eeQjgG6j #LegalTechTalk #LegalTechTalk2024 #LegalTransformation #EventHighlights #LegalInnovation #LTT2024

One thing was clear from Landmark Information Group's cross-market research: times are tough for property professionals. Estate agents are no exception. A staggering 88% said their role has been impacted by recent legislative changes, while 53% admit to struggling to progress transactions at an optimal pace. Ben Robinson, MD of Landmark Estate Agency Services said: “Uncertainty is hugely frustrating for estate agents, especially the many owner-operated estate agents who might not have large cash reserves and need their pipeline to flow as smoothly as possible. Over the past year or so, the same amount of money is coming in over a longer period, and fixed costs have increased, making it harder for agents to remain in business.” They’re not alone. Across the sector, there are heightened tensions around issues such as chain length, communication and instability. Read the full article: https://lnkd.in/gBf5dDKb #LegalTech #Legal #Law #Property #Estate

Adele Maloney has joined Paul Hastings as general counsel based New York City, the firm said Monday. Maloney joins from Kirkland & Ellis, where she served as deputy assistant general counsel. She assumed her role in the general counsel’s office in 2018 and was previously a partner in Kirkland’s corporate department, according to Paul Hastings. She succeeds Mark Pollack, who will retire. He joined Paul Hastings as a litigation partner in 2011 and became the firm’s general counsel in 2021, the firm said. https://lnkd.in/et9PcbPU #Legal #Law #peoplemoves #LegalTechTalk #generalcounsel

Thomson Reuters introduced Claims Explorer, a new generative AI skill available in Westlaw Precision with CoCounsel, that enables legal professionals to enter facts and identify applicable claims or counterclaims. Using generative AI to simplify claims research, users enter facts and quickly receive a list of applicable claims. In testing with attorneys, those who used the new skill found relevant causes of action three times faster than when using traditional research methods. In addition, in reviewing Am Law 50 litigation where claims were added after the initial pleadings, the new skill found 94% of the claims that were missed in the initial pleadings and later added by the firms. “Customers have told us about the difficulty of claims research for years, and it’s not just that it can take hours – it’s error prone, which is easy to see in how often reputable firms attempt to add new claims or counterclaims later in litigation, after the initial pleadings. But courts won’t always allow you to add a claim later, and missing the best claims can have significant consequences. It can mean the difference between winning or losing a motion, recovering more in damages or attorney’s fees, or potentially losing a case,” said Mike Dahn, Head of Westlaw Product Management, Thomson Reuters. https://lnkd.in/exPN5YRr #LegalTech #Legal #Law #AI #LegalTechTalk

Zurich Airport Ltd is considering legal measures after a global computer outage disrupted air traffic on Friday. The technical issues were caused by the software update from American cybersecurity company CrowdStrike and affected millions of Windows computers worldwide. Airports, supermarkets, banks, hospitals and broadcasters were affected. 132 flights were canceled from Zurich airport, affecting around 10,000 passengers. The extent of the financial damage has not yet been determined. https://lnkd.in/e36HiEfT #Legal #Law #lawsuit #CrowdStrikeCrowdStrike #LegalTechTalk

Alvarez & Marsal Legal Services (AMLS) and BDB Pitmans have signed a Letter of Intent, agreeing to explore the creation of a new International law firm called Broadfield aimed at supporting mid-market private capital and corporate clients. Once formed, Broadfield will engage AMLS to provide management services to the new firm including technology, back-office services and strategic services for growth initiatives and will also assist in procuring investment capital for the growth of the firm. In addition, AMLS will explore opportunities for Broadfield to partner with A&M in certain service areas where appropriate for clients. Peter Sacripanti, the Global Head of AMLS said: “Mid-market law firms are generally confined to domestic footprints. They have been facing pressures arising from increasing competition and increasing technology investment demands. Broadfield will have the scale, efficiency and technology to provide a superior service and enable investment in growth. Our objective is to assist Broadfield to build a major international law firm unlike any other in the market.” https://lnkd.in/eF_wkk6p #Law #Legal #LegalTech #Partnership #LegalTechTalk

Dye & Durham Corporation launched Unity Practice Management, offering small and medium-sized law firms a tailor-made software to keep their operations running smoothly while accessing Dye & Durham’s broader range of technology solutions, including conveyancing searches, AML, and a legal information AI assistant. DeeDee is an always-on AI assistant available 24/7 to streamline tasks and boost law firms’ productivity. Powered by the latest models from OpenAI, DeeDee makes it easy to generate first drafts of documents, summarise legal principles, and start legal research. DeeDee is designed to help law firms get an edge in the coming “AI Age” of legal services. In addition to DeeDee, Unity® Practice Management features instant AML checks including PEP, Sanction, Adverse Media, Law Enforcement, and Disqualified Director checks for improved risk management. https://lnkd.in/eKKgeJYD #LegalTech #Legal #Law #AI #LegalTechTalk