The fast-paced world of legal technology is constantly evolving. At Legaltech News, we always try to bring you the latest news on hiring, product and feature launches, new integrations, legal tech mergers and acquisitions, and much more. The Legaltech Rundown is a weekly update on legal tech events that might have gone unnoticed.
Act before: AI-powered cyber attack response company Actfore on Wednesday announced the launch of TRACE, an automatic extraction feature for generating data breach notification lists. TRACE can identify and extract compromised information for inclusion in a notification list after a breach, and is intended to more quickly and accurately replace manual extraction processes. The new functionality will be integrated into all Actfore deployments in the future, according to a press release.
Aderant: On Wednesday, business and practice management software provider Aderant announced that its Expert Sierra and vi by Aderant platforms had passed SOC 2 Type 2 audits. The platforms, respectively time management and billing solutions and talent management, have had their customer data management and protection practices tested and certified by the CPA Schellman & Company firm.
Clio: On Monday, cloud-based legal technology provider Clio announced the introduction of online payments product Clio Payments to the Australian market. Previously available in North America, Clio Payments supports both traditional hourly billing and project-based pricing, and offers a variety of payment options.
Advice : E-discovery vendor Consilio announced Tuesday the hiring of Emron Pratt as the company’s first director of strategy and transformation. Pratt will be responsible for identifying growth opportunities within and outside of the company’s current core business areas. Prior to joining Consilio, Pratt spent 19 years as a management consultant at Bain & Company, where he was a founding member of the Mexico City and Washington, DC offices, and worked with clients across industries.
Holistic AI: On Tuesday, AI governance platform Holistic AI announced the release of Holistic AI Tracker 2.0. Designed as a centralized source of information on AI governance and regulatory developments around the world, the redesigned hub presents a mapping view of AI activity in key jurisdictions such as the United States, EU and China, as well as a news feed featuring updates, stories and analysis provided by Holistic AI staff and users.
Falling for something : Video legal training provider Hotshot announced the launch of a new mergers and acquisitions simulation on Wednesday. The simulation, intended to prepare associates for M&A work, includes live and asynchronous video sessions and trains participants in due diligence, review procedures and transaction-related communications. The program is intended to be administered by the purchasing companies themselves, with the aim of enabling them to anchor the training into their own culture and work processes.
Battleship: On Friday, contract lifecycle management provider Ironclad announced that it has hired Jasmine Singh as general counsel. Singh was previously general counsel and chief legal officer at child welfare software company Binti, and before that, deputy general counsel at Patreon and deputy general counsel at Pinterest. Singh’s appointment comes months after Ironclad’s former general counsel, Chris Young, left the post after six years.
LexisNexis: On Wednesday, LexisNexis announced the release of the Lexis+ AI mobile app, an iPhone and Android version of the company’s Lexis+ AI suite of AI tools. The application includes features such as case summary, draft generation and the ability to ask legal questions in natural language, among others, and is capable of synchronizing with the desktop version of the platform. The company also announced the addition of new AI-based tools Code Compare and Administrative Code Summaries to its gen AI platform, which respectively identify differences between changing versions of laws and regulations and provide short summaries of federal and state administrative codes.
On Friday, LexisNexis also announced that it has entered into a seven-year contract with the federal court system under which it will provide federal judges, its support staff and employees with access to its legal research, analysis and information offerings. , including Lexis + AI.
Mitratech: On Thursday, legal, risk and compliance technology provider Mitratech announced the launch of its new case and expense management solution, CaseCloud. Built on the Salesforce platform, CaseCloud offers a number of features, including case support and legal projects, document and case management, among others. The platform also integrates with iManage, Google Drive and Microsoft Sharepoint document management systems, according to a press release.
Open text: On Tuesday, OpenText announced its new Cloud Editions 24.4 update, which will bring additional features to a number of its offerings. OpenText Communications, a communications management platform, will now have upgraded migration tools, while OpenText Core Messaging is now capable of supporting rich communications services. The company also updated its OpenText Customer Data and OpenText Core Journey offerings with expanded customer data management capabilities, among other changes, according to a press release.
Patlytic: On Tuesday, patent intelligence platform Patlytics announced the creation of two new modules on its patent workflow platform and the completion of a new round of funding. The platform will be updated with an invention disclosure process module, intended to accelerate the disclosure process. It will also now have a risk and compliance module that will compare patent applications to existing standard-essential patents in the relevant industry. In addition to the new products, Patlytics announced the completion of a new funding round of an undisclosed amount, led by Myriad Venture Partners.
ProSearch: ProSearch, a provider of discovery and review services, announced Wednesday the hiring of Rachel McAdams as director of engagement in the company’s Dublin office. McAdams will be responsible for overseeing all EU operations for the technology review company. McAdams joins ProSearch after serving as head of solutions for Sky Discovery and previously worked for A&L Goodbody, Baker McKenzie and PwC after completing his PhD. in plasma physics at the University of York.
SpotDraft: On Monday, contract lifecycle management (CLM) company SpotDraft announced the release of the Fall 2024 update series to its CLM platform. The new version includes contextual AI tools for playbook generation, contract comparison and summarization, and the ability to provide contract review feedback tailored to the party a user represents. The update also includes new integration with Microsoft Word for Desktop, a new Legal Hub for management and publication of standard terms by legal departments, and redesigned approval processes, among other changes.
Vero AI: Vero AI, a provider of AI-powered business analytics, announced on November 12 the release of Iris GRC, a new compliance tool. Built on Vero AI’s Iris analytics technology, Iris GRC is designed to analyze an organization’s documents to determine compliance status with standards such as SOC 2, HITRUST, and more. The new tool is designed to determine whether standards are currently being met, identify gaps and suggest potential solutions, and evaluate existing policies against pending regulations.