LawGeex, a Tel Aviv, Israel-based A.I. contract review platform for businesses, closed a $7m Series A funding.
Backers included Recruit Holdings, the owner of Indeed.com, and previous investors Lool Ventures and LionBird. In conjunction with the funding, Rami Kasterstein, a seasoned VC and entrepreneur, joined the company’s board as representative of the investor group.
The company, which has raised $9.5m in total funding, intends to use the capital to further advance its A.I. capabilities, enhance its SaaS offering, and continue building the team of engineers, data scientists and legal experts.
Founded in 2014 by international lawyer Noory Bechor and AI expert Ilan Admon, LawGeex provides an Artificial Intelligence powered platform that reviews incoming contracts, approves them if they match pre-defined criteria, and escalates them to the legal team if needed. Legal teams can define their criteria based on best practices, or create their own custom “playbooks”, outlining exactly what the platform should accept or reject in any contract.
LawGeex currently supports a wide range of standard business contracts, from NDAs to purchase orders and software licenses.