Relativity, a Chicago, IL-based global legal and compliance technology company, acquired Heretik, a contract review company that combines machine learning technology and advanced analysis to allow organizations to gain immediate insight into contract data.
The amount of the deal was not disclosed.
Moving forward, Heretik’s end-to-end contract review solution will be known as Relativity Contracts, enabling users to rapidly transform existing agreements into structured, actionable data. Relativity Contracts will be integrated into RelativityOne, and available as an add-on in mid-2023. The integration will allow for targeted AI and machine learning capabilities, such as contract classification, section segmentation and classification, data extraction to fields and imaging, and optical character recognition.
Led by Charlie Connor, CEO and Co-Founder, Heretik provides a lightweight contract review application that integrates into existing contract management tools. The solution enables teams to transform existing agreements into structured, actionable data to efficiently handle all types of corporate transaction and regulatory response use cases, enhancing best practices with minimal disruption.
Led by Mike Gamson, CEO, Relativity makes software to help users organize and read data, as well as act on it. Its SaaS product RelativityOne manages large volumes of data and quickly identifies key issues during litigation and internal investigations. The AI-powered communication surveillance product, Relativity Trace proactively detects regulatory misconduct like insider trading, collusion and other non-compliant behavior. Relativity has more than 300,000 users in approximately 40 countries serving thousands of organizations globally primarily in legal, financial services and government sectors, including the U.S. Department of Justice and 198 of the Am Law 200.
FinSMEs
29/08/2022