The legal review market has moved away from simple data extraction to solutions that provide end-to-end support of the entire legal review process. Betting big on AI-driven legal reviews, London-based legal technology startup Della has raised $2.5 million funding. The round saw the participation of new investor Pragmatech Ventures along with the existing ones, including Thibault Poutrel and Frederic Montagnon.
The funds will be used to grow the company’s presence in Europe and the U.S., and enhance its unique AI capabilities, which make the process of reviewing both simple and complex legal documents faster, accurate and efficient.
Della helps to accelerate the end-to-end legal review process. Users can create checklists, highlight relevant language, detect potential red flags, prepare custom reports, generate letters and other documents to help them to build their case and advise their clients.
The platform was launched in January 2020 and is being used by small and large law firms, including the likes of Mishcon de Reya, Eversheds Sutherland and Fidal.
Christophe Frèrebeau, co-founder and CEO, Della said: “AI has moved up the value chain in legal, and users just don’t want to use pre-trained, customised AI, due to the time it takes to train those models and the cost involved in doing that. Larger transfer learning-based models, like Della’s, are replacing those legacy solutions, and we are enabling lawyers to use AI to help with more and more complex tasks.”
Evgeny Sergeev, founder and general partner, Pragmatech Ventures and CEO of iDeals, added: “The platform is redefining what people think legal tech can do, and we look forward to helping Della continue its impressive growth. We will be supporting Christophe and the team across a wide range of tasks, from hiring to operations.”
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