Legal Tech Rundown: HBR Consulting's Acquisition, Veristar's Expansion, and More
An update on the legal tech market's past few weeks, from product launches to new tech acquisitions.
February 08, 2023 at 09:01 AM
5 minute read
The fast-paced legal tech world is constantly evolving. At Legaltech News, we always try to bring you the latest news on hirings, product and feature releases, new integrations, legal tech mergers and acquisitions and more. The Legal Tech Rundown is a periodic update of legal tech stories that might have fallen under the radar in the past few weeks.
|- Aderant: Business management software provider Aderant announced a few executive hires on Feb. 2. Doug Matthews, former senior vice president of product management at Veritas, and Andrew Hoyt, former chief technology officer at NCR Corp., will be joining as Aderant's new chief product officer and chief technology officer, respectively. What's more, the company promoted Jessica Kattman, senior director of global marketing, to vice president of global marketing and communications. On Feb. 8, Aderant also announced a new partnership with legal spend analytics and matter management provider Apperio, which had raised a $7 million growth round of venture capital funding earlier this year. The partnership aims to enhance firm-client relationships by reducing invoice friction, according to a press release.
- Avansic: On Feb. 1, e-discovery provider Avansic launched eDiscovery Assessment, a free surveylike tool that seeks to help legal professionals review their current management approach for e-discovery projects. According to a press release, eDiscovery Assessment was developed based on feedback from hundreds of legal professionals, ranging from e-discovery experts to some using e-discovery solutions "every now and then."
- Casepoint: On Jan. 18, e-discovery provider Casepoint announced it achieved StateRAMP authorization. The company had previously achieved U.S. Department of Defense Impact Level 5 Authority to operate from the Defense Information Systems Agency and the DoD, as well as the FedRAMP Moderate Authorization. On Feb. 8, Casepoint also announced it was expanding its offering to Canada with a dedicated data center.
- Documate: Document automation software company Documate announced that it is rebranding under a new name, Gavel, to better reflect the company's focus on legal productization, according to a press release. As part of the rebranding, the company also announced it raised additional venture funding and added Pierre Martin, former vice president of software engineering and product at Flexe, as its new chief technology officer.
- HBR Consulting: On Feb. 2, HBR Consulting announced that it acquired content management firm Younts Consulting, expanding the scope of HBR's content management and collaboration capabilities. Specifically, the company seeks to leverage Younts' team to bolster service areas such as document and records management, as well as information governance and technology transformation, among other things. The acquisition follows an investment by Renovus Capital last fall.
- Integreon: Integreon, provider of legal and business outsourced services, announced on Feb. 8 the development of CyberHawk-AI, an automated technology that leverages artificial intelligence to streamline the process of extracting and analyzing sensitive data following cyber breaches. To do so, Integreon is partnering with RadarFirst, a privacy incident management company. With this integration, Integreon will automatically enter information about a breach into RadarFirst's SaaS software, which will create notification prioritizations based on jurisdictional notification requirements.
- Loft Legal: Legal tech startup Loft Legal announced that it released AI legal services built on the infrastructure from OpenAI, the company behind ChatGPT, which leverages natural language processing and deep-learning capabilities. Loft Legal's AI service, offered by Harvey, an AI attorney, aims to enable users to ask legal questions, get complex contract clauses explained in simple terms and generate legal contracts.
- TRU Staffing Partners: TRU Staffing Partners announced a new partnership program for private equity and venture capital firms to help their portfolio companies compete for cybersecurity and data privacy talent. According to a press release, the program offers a self-service talent portal where portfolio stakeholders can review temporary staff augmentation options, among other offerings. "Partnering with TRU through this program gives clients exclusive access and visibility to passive and active job seekers for contract and full-time roles specific to each client's business," said Jared Coseglia, CEO and founder of TRU.
- UniCourt: Data analytics provider UniCourt announced on Jan. 18 that it hired Simone Spencer as its first vice president of marketing. Spencer was formerly the vice president of marketing at Demyst, a data deployment platform. The hire comes after the company reported a significant period of growth in 2022.
- Veristar: E-discovery provider Veristar announced on Feb. 7 that it is expanding its services to Nashville, Tennessee. This latest geographical expansion comes after it previously expanded to Cleveland, Charlotte, Atlanta, Houston and Los Angeles. The company also announced it is taking advantage of a financial restructuring option, Subchapter V, a new subchapter under Chapter 11, to address acquisition-related obligations and litigation. "Subchapter V affords us the opportunity to deal with some of the acquisition overhang in an efficient way," said Veristar CFO Ben Gardner. "We expect it to take eight weeks with no impact whatsoever on operations or client services."
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