In fact, the problem is so prevalent that for the past several years, Tokyo-based LegalOn Technologies has had an open door to that market: Its AI contract review software for legal teams is today used by 7,000 organizations across Japan, the U.S., and the U.K., the company claims, and it leads the Japanese market, with 25% of all public companies in the country using its platform. LegalOn's AI contract review tool, Review, identifies risks and suggests edits based on playbooks built by lawyers, and each customer's legal standards. The company claims Review cuts review times by up to 85% while improving quality and accuracy. The Series C funding round is being led by Goldman Sachs' growth equity fund, and saw participation from existing investor World Innovation Lab (WiL). New investors Mori Hamada & Matsumoto (a law firm in Japan), Mizuho Bank, and Shoko Chukin Bank also invested. While a lot of the new cash is being dedicated to developing more AI agent products, the company is...
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