Updated to change “USP” to “a key selling point”.
Legal AI knowledge management platform INTELLLEX has completed a USD $2.1m funding round led by Quest Ventures with participation from Thomson Reuters, Insignia Ventures, K3 Ventures, an unnamed Singapore government-backed VC fund, and a number of individual backers. Thomson Reuters notably assisted for six months in the development of INTELLLEX as part of its Thomson Reuters Labs incubator programme.
INTELLLEX is a knowledge management system that automates the taxonomy-based classification of documents and provides Google-like contextual search. You can search by topic, document type, industry, and client. A key selling point is combining AI with industry knowledge – two of the founders are former lawyers.
Categorisation is often undertaken by professional support lawyers and is still quite often a manual process in which the PSL takes the time to read and annotate a document. INTELLLEX, after four and a half years of training its algorithm, automates categorisation and retrieves documents based on context, not just key word search. The platform provides a drop-down menu of possible options but also a visualisation map that connects related topics, as well as commentary. The methodology ensures consistency in the way that documents are tagged for future analytics.
Users can connect via INTELLLEX to their document management system or drag and drop documents into the platform, which applies basic OCR before the algorithm reads the document and tags it by type. If, for example, a document is a Mareva order it will also be tagged as a freezing injunction even if there is no mention of that word. Users can continue to train the algorithm by getting rid of false positives or feeding back the right answer.
INTELLLEX, which has a team of in-house lawyers, is working practice by practice with a number of firms, albeit they are not yet in the public domain.
Chang Zi Qian co-founder and co-cEO of INTELLLEX said: “Professional Services firms traditionally create value in offering customized, knowledge-based services to clients. These services are derived from internal knowledge bases and advisory know-how accrued over years. Today, clients are demanding more value at lower costs, and they look to Knowledge Management to remain competitive. INTELLLEX believes underutilised Knowledge is dead weight. With the INTELLLEX platform, we convert such dead weight into Knowledge Assets that yield multiple and repeated value for our clients. With this round of funding, we will expand our service delivery across EU and APAC and accelerate development of new product offerings.”
INTELLLEX’s clientele include international and local law firms, government and regulatory institutions, corporate legal teams and legal content providers. It is a pre-approved legal technology software vendor under the Singapore Government’s “Tech-celerate For Law Programme”.
Jeffrey Seah, a partner at Quest Ventures, will join the INTELLLEX board of directors.
Chang Zi Qian, Co-Founder and Co-CEO of INTELLLEX, graduated with a Bachelor of Laws from the Singapore Management University and is a recipient of the Law Society of Singapore Palakrishnan Bar Memorial Scholarship. Zi Qian is admitted to practise law as an Advocate and Solicitor of the Supreme Court of Singapore. Prior to starting up INTELLLEX,
Zi Qian was with the commercial litigation practice group in Rajah and Tann LLP before joining the National Research Foundation (Prime Minister’s Office Singapore).
Ellery Sutanto, Co-Founder and Co-CEO of INTELLLEX, graduated with a Bachelor of Science in Economics (Summa Cum Laude), with a double major in Economics and Finance from the Singapore Management University. Ellery is also a recipient of the SMU Economic Advisory Board Excellence Award. Prior to starting up INTELLLEX, Ellery was with J.P. Morgan Private Bank as a Global Investment Specialist, managing investment portfolios for ultra-high net-worth clients.
Li Jianxin, Co-Founder and Chief of Product and Operations, graduated with a Master of Science in Aerospace Engineering from University of Michigan (Ann Arbor). Jianxin was
COO of an athletic CRM SaaS Startup (ScoutForce) before joining Pratt and Whitney as a Repair Design Engineer.