NextLaw Labs and Seedcamp select first two legal tech startups for investment
Libryo, co-founded by CEO Peter Flynn, is a software as a service platform built to overcome regulatory complexity. The London-headquartered startup provides an intuitive dashboard which lists all legal obligations as per the needs of its customers, enabling any person, working in any organisation to understand the legal obligations in any situation.
Clause, co-founded by CEO Peter Hunn and headquartered in New York, is building an infrastructure for the next generation of automated and data-integrated contracts for enterprise. Through Clause’s platform, contracts are capable of being managed and updated in real-time through integration with the Internet of Things, analytics services and web-service APIs.
NextLaw Labs and Seedcamp this summer co-sponsored a global call out to legal tech startups and Tom Wilson, investment manager at Seedcamp said: “We’ve been on the lookout for disruption in the legal tech space and for companies to bring the sector into the 21st century and believe both Libryo and Clause have massive potential to be real market leaders.”
Over 80 startups across five continents applied for the program and underwent a thorough selection process consisting of a panel of judges from Nextlaw Labs, Dentons and Seedcamp.
“The quality of the startups that applied and the selection of two outstanding companies, Libryo and Clause, are a testament to the fantastic relationship between Nextlaw Labs and Seedcamp,” said Dan Jansen, chief executive of Nextlaw Labs (pictured). “This was a successful call out that resulted from Nextlaw Labs and Seedcamp’s unique and complementary assets coming together for the shared initiative of accelerating the development of a legal tech ecosystem. We see great partnerships like this as an important step in achieving our vision to reinvent the business of law.”
Both Libryo and Clause will benefit from Seedcamp’s life-long platform of learning and support as well as access to its unparalleled network of advisors. This will be enhanced with mentorship from lawyers at Dentons, the world’s largest law firm. The companies will gain in-house training and expert guidance on how to build their business, develop their brand and raise capital to help them scale.