LegalOn Secures $50M to Boost AI-Powered Legal Workflows
▼ Summary
– Contract review is a slow, manual process, but LegalOn Technologies’ AI software helps legal teams by identifying risks and suggesting edits, cutting review times by up to 85%.
– LegalOn leads Japan’s market with 25% of public companies using its platform and has expanded to 7,000 organizations across Japan, the U.S., and the U.K.
– The company raised $50 million in Series C funding, led by Goldman Sachs, to develop AI agent tools and expand in the U.S. and U.K., where business has quadrupled.
– LegalOn differentiates itself with attorney-drafted legal content, 50+ playbooks, and a partnership with OpenAI for early access to advanced AI models.
– While AI is transforming legal tech, LegalOn’s CEO believes lawyers remain essential for oversight and judgment, with AI serving as a tool to enhance their work.
Legal tech startup LegalOn has secured $50 million in Series C funding to expand its AI-powered contract review platform and accelerate global growth. The investment, led by Goldman Sachs with participation from existing and new backers, will fuel product development and market expansion in the U.S. and U.K., where business has grown fourfold in the past year.
For legal professionals drowning in paperwork, contract review remains one of the most tedious aspects of their work, a pain point LegalOn aims to solve with its AI-driven platform. The Tokyo-based company, founded by former corporate lawyers, now serves 7,000 organizations worldwide, including a quarter of Japan’s public companies. Its flagship tool, Review, analyzes contracts using attorney-built playbooks, cutting review times by up to 85% while improving accuracy.
The fresh funding will help LegalOn develop advanced AI agent tools to complement its existing software. The company also recently launched Matter Management, a workflow solution that helps legal teams track contracts, assign tasks, and collaborate across departments. Additionally, LegalOn has partnered with OpenAI, gaining early access to cutting-edge language models while maintaining its proprietary legal expertise.
Despite the rapid adoption of AI in law, LegalOn’s leadership emphasizes that lawyers remain indispensable. “AI isn’t replacing attorneys, it’s empowering them,” says Global CEO Daniel Lewis. The technology excels at automating repetitive tasks, but human oversight is still critical for nuanced legal judgment. This balanced approach has resonated with clients, positioning LegalOn as a leader in AI-assisted legal workflows.
The legal tech sector is booming, with competitors like Harvey AI and Clio also raising significant capital. LegalOn’s latest round brings its total funding to over $200 million, backed by investors including SoftBank Vision Fund and MUFG Bank. As AI reshapes the industry, LegalOn’s focus on precision, attorney-backed content, and seamless integration sets it apart in a crowded market.
While generative AI continues to evolve, LegalOn’s strategy remains clear: enhance, not replace, legal professionals by combining advanced technology with deep domain expertise. For firms looking to streamline operations without sacrificing quality, this approach could be a game-changer.
(Source: TechCrunch)
