On Monday, contract automation provider Ontra, formerly known as InCloudCounsel, announced the launch of Ontra Synapse, an AI-powered contract negotiation and management solution for private market firms.

Ontra Synapse has been integrated into Ontra's Legal Operating System and brings new capabilities to Ontra's existing Contract Automation and Insight solutions.

What It Is: Ontra Synapse is an AI-powered solution that seeks to automate legal workflows for private market firms, Troy Pospisil, Ontra's founder and CEO, told Legaltech News. The solution brings new capabilities to the Contract Automation and Insight tools that users have used up until now.