LexFusion, the go-to-market collective of leading legal innovation companies, is excited to welcome CoParse, Kira, and Hotshot as member companies. LexFusion expands its offerings to include a cutting-edge document viewer, a premier machine learning tool, and modern, high-end legal education & training. The additions follow the announcement of LexFusion welcoming Casey Flaherty as its Chief Strategy Officer and third co-founder. The growth of LexFusion (now with ten members) echoes the explosive growth the entire ecosystem.
CoParse is not legal tech. CoParse is business tech all lawyers should use. CoParse makes a next-generation DOCX & PDF reader. AI-powered, yet super simple-to-use, CoParse instantly improves users’ ability to review, annotate, and understand complex documents, from credit agreements to annual reports. As an offline app for Windows and Mac, CoParse can be approved quickly, installed instantly, and requires zero training to deliver an immediate return on investment. CoParse was founded by Jacob Beckerman, 22-year-old alum of The Wharton School’s exclusive M&T program and is VC-backed by Cooley and BoxGroup. Trusted by investors, bankers, lawyers, and dealmakers, CoParse is scaling quickly to become the default way to read and understand complex documents.
“We quickly saw the value in CoParse as a product and company. Word and PDF documents can be a pain to read and haven’t changed since the 1980s. The market is huge: nearly every knowledge professional interacts with .docx or .pdf files regularly. When you meet Jacob, his intellect and ambition are obvious within minutes and we’re very excited by the progress so far and to see where the team goes,” said David Tisch, Managing Partner at BoxGroup.
Kira Systems, a legal tech company that offers an award-winning software solution that uses machine learning to extract key information from contracts and other related documents, is one of the most mature offerings in the space, having been founded over a decade ago. The company is the brainchild of former Weil, Gotshal & Manges attorney Noah Waisberg, who saw an opportunity to streamline due diligence based on his time practicing law. His partner and co-founder, Dr. Alexander Hudek, worked in the areas of proof systems and database query compilation. Together, they combined their knowledge and spent three years building and fine-tuning Kira’s custom machine learning algorithms, which today has become a global powerhouse for law firms, corporations, and professional service firms.
“This partnership with LexFusion re-enforces Kira Systems’ position as a leading legal innovator that offers a best-in-class software solution for the legal industry,” said Joanna Trimble, Kira Systems’ CRO. “It’s an honor to partner with such talented legal tech experts. As we continue to navigate the changing legal landscape, it’s more important than ever to work with an industry leader that understands the importance of accelerating the adoption of legal innovation through trust, community, and market fit.”
Hotshot is an ed tech company that helps lawyers develop their legal and business skills through short, practical videos and interactive training programs. They offer over 200 videos and related materials across transactional, litigation, and business topics. Hotshot helps lawyers learn on the job and enables law firms and other organizations run more engaging training programs – whether remote or in person. Their subscribers include Am Law 100 firms, regional and international firms, and top law schools. Hotshot was founded by Ian Nelson and Chris Wedgeworth, former leaders of Practical Law Company, and their investors include legal industry experts, including the founders of Practical Law Company.
“This is how people want to learn. Hotshot videos give the master-class foundation and then partners can punctuate with war stories to elevate and fast track training in the firm’s own unique way,” said Wilson Chu, M&A Partner at McDermott Will & Emery and Chair of the ABA M&A Committee. “I am excited to see Hotshot partner with LexFusion to transform legal training at firms as well as legal departments.”
“The digital transformation imperative has gone from a topic of debate to an operating assumption. Being tech-enabled is no longer an option, it is fact of life. Hotshot is how law firms and law departments should organize and deliver their training, so their rising lawyers learn, among other things, what contract language means, and why it matters. CoParse is how lawyers should read individual contracts going forward. Kira is how lawyers should attack large corpuses of contracts in order to be efficient and effective at scale. Lawyers have always done these tasks—continuous learning, read contracts, address contracts en masse—but now they have beautiful modern options for doing them all better. We could not be prouder to welcome CoParse, Kira, and Hotshot. The LexFusion approach is unlike anything else in the market. We work hard to calm the chaos and reduce the noise in an ever more crowded marketplace. Like the market and our members, LexFusion will continue to evolve, always with a view towards delivering more value to our customers. Today is a great day in that regard.” said Casey Flaherty, Co-Founder & Chief Strategy Officer.
About LexFusion: LexFusion is the legal professional’s first call to modernize legal practice and operations. LexFusion evaluates the congested legal innovation marketplace and selects excellent solutions geared toward helping legal professionals optimize their money, time, and resources. LexFusion’s vetted portfolio of leading legal innovation companies currently comprises ten unique members. For more information, please visit http://www.lexfusion.com