LOS ANGELES, Oct. 22, 2019 /PRNewswire/ -- LegalMation® announced today that it has entered into a private placement round which includes new investments from REV Venture Partners (the venture capital arm of RELX Group, parent company of LexisNexis), Relativity, and Bridge Investments (co-led by Michael Suchsland—former president of Thomson Reuters' legal business unit), and continuing participation by Key Venture Partners (headed by Vance Opperman—former president of West Publishing Company now part of Thomson Reuters).
LegalMation continues to build and develop next generation AI/Machine Learning platform tools for the law practice of the future. Launched in the Spring of 2018, LegalMation® has experienced an 800% growth in the past 12 months. The company's first-to-market pleading and discovery AI applications have taken the industry by storm and its litigation analytics platform will transform how cases are handled, assigned, settled, valued, and resolved.
"We appreciate the vote of confidence by the leaders in the legal space," said James M. Lee, LegalMation's CEO. "Their faith in the transformative platform that we have built, and the solutions we continue to develop, speaks volumes for the trajectory on which our company is headed. We are excited to have them as investors as we focus on future products and services incorporating our next generation AI technologies for a wider group of users and industries."
LegalMation® is currently used by both corporate legal departments and law firms, including Walmart and Ogletree Deakins, and several national insurance carriers.
LegalMation® is a legal technology company revolutionizing the practice of law through technology aimed at both in-house legal departments and law firms. For more information, visit www.legalmation.com.