The $5 million seed round has been closed by Superlegal, an AI platform that helps SMBs with legal contract analysis. Aleph and the Disruptive AI Fund co-led the round, which also included Tom Glocer, the former CEO of Thomson Reuters and Alicorn Venture Capital. The business was awarded a grant by the Google AI Startups Fund and provides the only AI solution that is permitted to practice law in the United States.
“This investment from three industry-leading VCs with deep passion and expertise in AI serves as a robust validation of our vision and dedication to ensuring that small and medium-sized businesses can access, afford, and adopt the same AI technologies as enterprises,” said Noory Bechor, the company’s co-founder and CEO. “With these resources, we can level the playing field for small and large firms, accelerate our growth path, and maintain our dedication to innovation.”
Many firms find it difficult to evaluate and negotiate legal contracts, particularly those that have a large volume of monthly contract reviews and lack an internal legal team to handle the demand.With algo
rithms created especially for legal language, the company’s AI contract review engine was trained using data from the biggest legal organizations in the world. It implies that without depending on a legal department or outside legal counsel, its SaaS platform can assist small and medium-sized enterprises in reviewing and advancing contracts in an accurate, efficient and cost-effective manner. According to Superlegal officials, it can reduce legal fees by up to 90% and 70% in deal cycles.
Bechor and its Chief Technology Officer, Ilan Admon, co-founded Superlegal. After starting LawGeex, an AI-powered contract review service for major businesses that LegalSifter purchased in 2023, it is the pair’s second LegalTech endeavor. The business has offices in Salt Lake City, New York and Tel Aviv.
