Nextlaw Ventures, the global legal technology-focused venture capital fund, today announced its investment in Beagle, a legal tech startup that is using artificial intelligence to transform the legal contract review process.
Beagle streamlines the review process by scanning contracts and highlighting key information, providing a real-time collaboration platform that simplifies contract negotiation and finalization. Clients can run contracts through Beagle’s self-service platform and engage with their counsel on higher-level tasks they would have otherwise tackled in-house due to prohibitive cost. Machine learning capabilities enable Beagle to get ‘smarter’ with each reviewed contract and learn the preferences of its users.
Dentons attorneys in selected transactional practice areas will initially pilot Beagle software in Canada and the UK.
Beagle marks Nextlaw Ventures’ second investment in the Canadian market and eighth global investment since its launch in May 2015. The startup joins an elite group of legal technology innovators that includes:
- ROSS Intelligence (Canada): A developer that leverages IBM Watson-powered cognitive computing to refine expert legal research.
- Apperio (UK): A startup focused on streamlining matter management.
- Doxly (US): A secure, cloud-based platform designed to simplify corporate legal transactions.
- Libryo (South Africa): A risk management SaaS (software as a service) solution enabling users to understand legal obligations in any jurisdiction.
- Clause (US): A data-driven smart contracting platform that leverages the Internet of Things.
- Qualmet (US): The legal industry’s first solution to measure and improve service quality between in-house and outside counsel.
- Hire an Esquire (US): A startup transforming the legal marketplace with on-demand workforce technology.
Founded in 2013 by Cian O’Sullivan in Kitchener, Ontario, the company has earned an impressive track record and picked up numerous recognitions for its innovation, including selection as an accelerator finalist at South by Southwest’s annual conference for innovation and as the first Canadian startup to participate in the Microsoft Ventures Accelerator in Seattle.
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