A LegalTech startup looking to shape the future of legal review has raised £1.9 million seed funding.
Della offers lawyers an intuitive way to review legal documents: whether reviewing large volumes of legal documents or individual complex contracts, it uses AI to focus on the questions they really want answers to.
Users can create checklists, highlight relevant language, detect potential red flags, prepare custom reports, generate letters and other documents to help them to build their case and advise their clients.
New investor Pragmatech Ventures joins Thibault Poutrel, Frederic Montagnon and other international investors who have supported Della since it launched in January 2020.
The funds will be used to grow the London firm’s presence in Europe and the USA, and enhance its AI capabilities.
It is already being used by small and large law firms across multiple countries, including Mishcon de Reya LLP, Eversheds Sutherland, Fidal, and several large multinational enterprise organisations.
“The legal review market has moved away from simple data extraction, to solutions that provide end-to-end support of the entire legal review process,” said Christophe Frèrebeau, CEO and co-founder.
“AI has moved up the value chain in legal, and users just don’t want to use pre-trained, customised AI, due to the time it takes to train those models and the cost involved in doing that.
“Larger transfer learning-based models, like Della’s, are replacing those legacy solutions, and we are enabling lawyers to use AI to help with more and more complex tasks.”
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