We’re here to keep you up to date with the latest legaltech and mainstream tech news you need to care about in brief.
First up, GenAI marketplace Jylo has won Hempsons as a customer. Using Jylo’s platform, the UK health and social care law firm aims to deliver secure, collaborative, matter-centric intelligent AI workspaces. Jylo’s USP is turning intellectual capital into repeatable, AI-driven processes that are customised for each practice area.
Adam Johnson, head of technology and architecture at Hempsons, said, “Our deep understanding of our clients’ businesses drives us to innovate the solutions we offer. Gen AI, and specifically the Jylo model, empowers us to enhance our capabilities and to optimise internal business processes using Jylo to drive efficiencies.
“The Jylo model allows us to create standardised repeatable processes, which can be benchmarked against different AI models to measure accuracy and effectiveness before being put into operation. We are currently developing several use cases which are already starting to yield positive outcomes.”
Jylo’s commitment to data security and privacy is said to be a decisive factor for Hempsons. Through Jylo’s partnership with Microsoft for UK-based inferencing for AI, the solution met Hempsons’ stringent requirements for a single-tenant model, ensuring end-to-end data sovereignty within the UK – a critical necessity for Hempsons’ clients. Data is safeguarded at all times and is not used for any product development or training work, remaining within Hempsons’ control at all times.
Atria AI, a legaltech startup working with law firms including Dechert, has raised £720,000 in pre-seed funding led by Fuel Ventures and a network of angel investors.
Built by a team of former top-tier lawyers and an ex-Googler, Atria AI offers AI-driven “plug and play” solutions. At the core of its innovation is Pathfinder, an AI-powered platform designed to seamlessly assist lawyers in managing dates, deadlines and obligations.
Law firms are being invited to join a strategic partnership and work with Atria AI to co-design a new set of modules for the ever-growing suite of AI-driven solutions.
Fuel Ventures, a leading UK venture capital fund known for its strategic investments in high-growth technology startups, has been instrumental in supporting Atria AI’s journey. With a portfolio of over 170 investments, Fuel Ventures brings extensive experience in backing disruptive technology businesses.
Mark Pearson, founder of Fuel Ventures, said: “Atria AI is bringing much-needed innovation to the legal sector by simplifying complex legal processes through AI. Their Pathfinder platform is set to revolutionise legal workflows, and we are excited to support their journey towards transforming the industry.”
IP management platform Anaqua has been acquired from Astorg by Nordic Capital.
The acquisition represents a key strategic investment by Nordic Capital, which says it will support Anaqua’s global expansion and ongoing software enhancements.
“Nordic Capital will be a great partner going forward – both for Anaqua and our customers -with our shared vision of software-led IP management platforms that can drive industry transformation,” commented Anaqua’s CEO Bob Romeo.
And not legaltech but worth noting because it’s the end of an era and an interesting tech riches to rags story, Microsoft announced on Friday 28 February that it is to shelve Skype in favour of Teams. As of May this year, Skype, which is one of the oldest voice and video calling platforms, will no longer be available for consumers. Skype for Business shut in 2021.
Microsoft bought Skype in 2011 for $8.5bn. While many firms did use Skype during lockdown, Zoom swept in and took much of its customer base. The argument goes that in trying to reinvent Skype, developers lost sight of video call quality, optimising it for chat. Zoom, on the other hand, went from strength to strength. These day Teams, introduced in November 2016, is regarded as the winner, providing a fully integrated user experience as part of Office 365.
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