Contract review solution provider LawGeex , which employs “artificial intelligence” to automate much of the review process, recently announced the closure of $7 million in a Series A funding round. Leading the round was Indeed.com owners Recruit Holdings Co. Ltd. Also participating were LionBird and Lool Ventures, both of which previously invested in LawGeex.
The funding represents investors’ awareness of the growing interest from corporate legal departments for automation in contract review. AI, as applied this way, uses machine learning to understand large datasets of contracts in order to parse and search specific clauses and terms.
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