The legaltech startups helping lawyers - or making them redundant

You’ve heard of the usual suspects: Fintech, Contech, Medtech, and Insurtech have largely taken the front seat when it comes to innovative sectors in Startup Nation. However, the field of Legaltech has been mainly ignored or pushed to the side when noting sectors that are in the middle of a digital transformation.

But why? According to data from 2018, Israel has the highest number of attorneys per capita in the world - one out of 114 people, a total of 70,000 people, are registered lawyers. And they deserve to benefit from Israel’s entrepreneurs as much as its doctors, bankers, or insurance professionals.

Here, we outline some of the Legaltech companies operating in the country that are helping digitize the sector.

LawGeex

LawGeex helps businesses automatically review and approve contracts. It assists legal teams to speed up review turnaround, ensure legal compliance, and improve efficiency based on a pre-defined checklist from the general counsel. This is achieved due to its machine learning algorithms, text analytics, and knowledge from lawyers to highlight unusual, problematic, or missing clauses in contracts.

Product: AI-powered contract review automation

Founders: Noory Bechor (CEO) and Ilan Admon (CTO)

Founding Year: 2014

Employees: 51-200

Funding: $41.75 million

Investors: Aleph, lool Ventures, Corner Ventures, La Maison Partners, LionBird, Rami Lipman, Eilon Tirosh

LawFlex

Not strictly a startup, LawFlex provides a network of lawyers to help corporations and startups with legal services on a flexible basis. The firm has 600 lawyers who can assist in legal process outsourcing, part-time legal counsel, legal operations, and more.

Product: Legal resourcing for financial institutions, corporations, and startups

Founders: Zohar Fisher (Chairman) and Jackie Donner (CEO)

Founding Year: 2015

Employees: 201-500

Funding: N/A

Investors: N/A

LitiGate

LitiGate is developing a claims analysis solution to help litigators with their daily workload. Its solution uses text-analysis algorithms to compare the written arguments of opponents with past cases. It does this by structuring commercial and civil disputes from pre-action protocols all the way to the appeals stage focussing on the ‘semantic DNA’ of the arguments and nature of the circumstances.

Product: AI-powered litigate platform

Founders: Nimrod Aharon (CEO) and Guy Uziel (CTO)

Founding Year: 2017

Employees: 11-50

Funding: $5 million

Investors: Brighteye Ventures, Firstime Venture Capital, Rhodium, Shibolet

Ettorney

Ettorney’s mission aims to get rid of the bureaucracy surrounding legal services and help save time and money. It does this by offering a variety of online services and fixed prices for startup entrepreneurs, small businesses, and families with things like company incorporation, bank account and tax file opening, trademark registration, wills and inheritance registration, and company dissolution.

Product: Automatic legal document preparation

Founders: Ron Hadar (CEO)

Founding Year: 2015

Employees: 1-10

Funding: $1 million

Investors: AltalR Capital

K-Lawyers

K-Lawyers operates as a marketplace that can help law firms outsource their work domestically to U.S.-licensed contract lawyers. This can help firms take advantage of reduced costs when compared with in-house or temporary hires. Based in Israel, it can also help contract lawyers have access to steady streams of assignments and the potential for industry networking.

Product: Marketplace for freelance lawyers

Founders: Aviv Hillo (CEO), Adi Peleg (COO), and formerly Omer Hertz

Founding Year: 2016

Employees: 1-10

Funding: Bootstrapped

Investors: N/A

Coretext Technologies

Coretext Technologies is a B2B SaaS company helping businesses manage their legal affairs by leveraging Natural Language Processing and machine learning technologies. It provides a self-starting and self-guiding solution that provides visibility into data and business insights.

Product: Self-guiding legal affairs software

Founders: Ori Rosen (CEO)

Founding Year: 2018

Employees: 1-10

Funding: Bootstrapped

Investors: N/A

Suitup

Suitup operates as an app to help match jobs in the legal field with candidates based on their qualifications and desires. Candidates are sorted using an algorithm that pairs job profiles with the personal interviews that took place. Suitup also allows people to look for jobs with discretion. Its clients include Firon & Co., KPMG, Monday.com, eToro, and APM & Co.

Product: Job search platform for legal professionals

Founders: Reut Kaplan-Rosenthal (CEO)

Founding Year: 2017

Employees: 1-10

Funding: Bootstrapped

Investors: N/A