Execo Boosts Gen AI-Embedded Legal Offerings Through Acquisition of Cacti Legal
Execo expands its delivery capabilities by acquiring Alternative Legal Services Provider (ALSP) Cacti Legal.
NEW YORK, July 17, 2024 /PRNewswire/ -- Execo, a next-generation alternative legal services provider, today deepened its commitment to the legal industry with the strategic acquisition of Cacti Legal, a pioneer in AI-led Legal Managed Services including Contract Lifecycle Management (CLM), Contract Abstraction, and Legal Operations Support. This acquisition marks Execo's sixth in just 12 months, highlighting the company's ongoing strategy to enhance its capabilities by integrating Legal Process Outsourcing (LPO) firms and Alternative Legal Service Providers (ALSPs) into its global portfolio.
"Legal departments are increasingly expected to adopt technologies that promise significant ROI, yet often require extensive human intervention to deliver reliable results. At Execo, we focus on what we call 'Return on AI' – ensuring our AI integrations not only meet immediate technological needs but also provide sustained value," said Patrick Linton, CEO of Execo. "We believe in technology as a tool for enhancement and not replacement, keeping expert human judgment at the core of what we do. This approach is essential for legal departments and companies seeking to navigate the complexities of AI adoption effectively."
Cacti Legal, led by lawyer-turned-tech entrepreneur Akhilesh Rautray, has been at the forefront of transforming lawyers into Legal Engineers who leverage technology to enhance legal service delivery efficiently.
According to Rautray, "Consulting firms and legal departments are looking for new and better ways to successfully integrate technology into day-to-day services, while not increasing risk and complexity. We believe in Execo's vision of redefining how alternative legal services are delivered, through the thoughtful incorporation of GenAI and not forgetting that human intervention, governance and pro-active GenAI vendor assessment and selection are key to true success in the world of legal AI. Our team of legal engineers is excited to continue to deliver world-class solutions to our customers as they navigate this new world of legal AI."
Rautray and his co-founders Nitin Agrawal and Saurabh Agrawal, will take senior global leadership positions in Execo.
About Execo
Founded in 2023, Execo is a next-generation legal services provider that is changing the way companies engage with their providers by thoughtfully incorporating GenAI where it matters and people where it counts. Execo actively acquires successful legal service providers and transforms traditional FTE-based business models into GenAI-powered managed legal services that deliver tangible outcomes for rapidly changing legal departments. Led by entrepreneur Patrick Linton and a strong management team backed by years of experience executing business solutions, Execo's 400 professionals located across six countries serve over 100 clients across a diverse set of industries. For more information, visit www.execo.com.
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SOURCE Execo
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