Contract Review Startup Della Raises $2.5M, Bets on New AI Approach
The London-based startup looks to stand out in a crowded market through its multilingual capabilities and its divergence from the traditional approach of training AI to identify specific contract clauses.
March 24, 2022 at 08:01 AM
4 minute read
Legal Technology
Today, London-based contract review startup Della announced it raised $2.5 million in seed funding from new investor Pragmatech Ventures as well as previous individual investors. The startup, which was founded in mid-2018 and launched its contract review platform in 2020, looks to take a different approach than others in the market with the unique way it trains its artificial intelligence technology.
Della CEO and co-founder Christophe Frèrebeau noted the startup will use the investment to expand further within Europe, adding to its presence in countries such as the UK, France, Italy and Germany. The company will also look to expand further into the U.S., though it will focus on specific use cases in the American market, such as helping review complex franchise agreements.
Frèrebeau also said the funding will be put towards making the Della platform's "AI more usable to support the lawyers in their legal work from an end-to-end basis. We're not just trying to stop at read[ing] a contract, analyz[ing] a contract but doing a legal task efficiently" as well. As an example, he explained that such a legal task could include a contract risk analysis.
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