Legal Tech Funding Poised for Major Shift with AI

Harvey, an AI company specializing in legal tech, seeks $600 million in funding, potentially valuing the startup at $2 billion. This move underscores the rising influence of AI in the legal industry. Harvey's platform helps with legal document research and analysis, reducing repetitive tasks for lawyers. Despite a decrease in legal tech startup funding this year—from $871 million to $356 million—Harvey's funding could reverse this trend. Other notable AI-related legal tech fundings this year include Robin AI ($26.7 million), DraftWise ($20 million), and Spellbook ($19.6 million). Investor interest in AI for legal tech has been growing since last year, indicating a shift in the traditionally slow-to-adopt legal sector.

https://greyjournal.net/news/legal-tech-funding-poised-for-major-shift-with-ai/

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