Factor Accelerates AI Push with Acquisition of Legal Tech Development Studio

NEW YORK, Feb. 13, 2025 /PRNewswire/ -- Factor, the market leader in Integrated Law, today announced its acquisition of Theory and Principle, a specialized legal technology design and development agency. The purchase advances Factor's strategic shift towards AI-first legal solutions, building on established momentum from 2024, during which Factor successfully deployed AI capabilities across multiple large, high-value legal use cases. This combination brings together Theory and Principle's design excellence with Factor's deep understanding of user needs to develop solutions that address real pain points in legal work.

Drawing on Factor's experience handling tens of thousands of contracts for the world's most sophisticated legal departments, along with Theory and Principle's legal tech expertise, the acquisition positions Factor to lead in solutions designed for legal work by and for legal practitioners.

Together, the companies bring immediate value to clients. Theory and Principle's clients will gain access to Factor's legal capabilities and additional AI resources and tools, while Factor's clients benefit from Theory and Principle's proven strengths in legal technology and user-centered design. This combined expertise will enable faster deployment of targeted AI solutions across the contracting lifecycle.

The deal builds on Factor's established AI initiatives, including The Sense Collective (a GenAI collaboration community of in-house legal leaders) and the Sensemaker Academy, a training program to accelerate AI adoption. This acquisition will accelerate the development of Integral, Factor's growing suite of modular solutions, including Answers, an AI contract extraction, interpretation and intelligence service. Further capabilities will be announced in the coming weeks and months.

"The acquisition of Theory and Principle marks a pivotal moment as we help legal departments navigate one of the most significant shifts in legal services. GenAI is reshaping how legal work gets done, and we're uniquely positioned to help legal teams move beyond experimentation to integrate GenAI into their daily operations," said Varun Mehta, Factor CEO. Nicole Bradick, Theory and Principle CEO, said, "We have helped leading AmLaw 200 law firms, legal technology companies and others to innovate through the design and development of user-focused solutions. We are thrilled to be able to continue to serve our clients with the benefit of all of the resources that an organization like Factor has to offer, and to expand our focus to include corporate legal departments. Factor's proven expertise in leveraging AI for the benefit of the in-house team plus our design and technical capabilities will allow us to double down on AI efforts, including bringing new next-generation solutions to market."

About Factor

Factor is the market leader in Integrated Law. Factor works alongside corporate legal departments and law firms to solve the ever-increasing demands and complexity of transactional legal work like contracting. With 10+ years of focused experience, Factor integrates the expertise of Traditional Law, and the efficiency of New Law, with the close business understanding and integration of In-house legal to deliver complex legal work at scale. Factor helps reposition and focus in-house legal on advisory, solves business problems, and balances commercial opportunities with legal risks.

Factor is not a law firm and does not provide legal advice. For more information, go to https://www.factor.law or LinkedIn.

About Theory and Principle

Theory and Principle is the preeminent legal technology design and development agency. The company provides end-to-end product support for law firms, legal tech companies, legal aid organizations, and more. Focused heavily on user experience design, Theory and Principle's mission is to improve the legal experience for all through thoughtfully designed digital products.

Logo - https://mma.prnewswire.com/media/2616619/Factor_Logo.jpg

SOURCE Factor