Legal Tech M&A: Which advanced tech receives most VC cash?

Here is the latest exclusive data provided to Legal IT Insider by Spark – a dashboard for legal and regulatory solutions, launched by legal tech analytics company legalcomplex.com. Legalcomplex was co-founded by data wizard Raymond Blijd, who previously worked for Wolters Kluwer. He says: “This month we were curious to know which areas using advanced technologies received the most venture capital. The advanced technologies are machine learning, automation, or text analytics usually deployed in Contract review, eDiscovery, or Patent research. This time we took a broader look at Governance, Risk, and Compliance (GRC) space as well as Legal technology companies.

“This year, fraud detection took the bulk of venture capital pushed by a $700 million round from 4Paradigm located in Beijing. The key areas where advanced technologies receive capital are to audit and screen customers and vendors. These screenings aren’t limited to crimes such as anti-money laundering, they also extend to employees’ background and remote monitoring.     

“Notable this year was Geo Analytics. Tomorrow.io received a $77 million round in March to provide a view of where, when, and how the weather will impact businesses. The weather is especially relevant in exploring risk or dealmaking in industries such as construction, insurance, and logistics & supply chains. Remember, weather conditions caused the Ever Given to block the Suez Canal resulting in a potential $1 Billion settlement under maritime law.”