SwiftScale Selections — a monthly feature of 5 fast-growth, enterprise tech startups doing good stuff in a particular vertical.

In the last two months of 2018 we explored exciting data & talent acquisition companies and in January of this year we focussed on customer insight. For our 4th edition we’re taking a look at LegalTech…

The 5 scaleups we’ve chosen are:

Eigen Technologies Turn your documents into data

UK-based, 2014 founded, £13m raised, 80 employees

Where’s the good stuff?

Included in CB Insights’ 2019 AI 100 list and have raised £13m to date with Goldman Sachs and Temasek as principal backers. Key clients include Hiscox, Goldman Sachs and ING Group.

What do they do?

Eigen automates the extraction of data from legal and corporate documents. Companies use their simple, flexible natural language processing technology to accurately extract data from diverse documents at scale and to classify these documents based on their content.

By providing a comprehensive understanding of a firm’s qualitative data, Eigen enables them to make better decisions on everything from complex financial regulation to due diligence.

ContractPodAi — AI contract analysis

UK-based, 2014 founded, undisclosed funding, 40 employees

Where’s the good stuff?

By 2018, their growth rate had exceeded 500% year-on-year and they’ve recently expanded operations into the US. Key clients include EY, Total Petroleum, Bosch and Siemens.

What do they do?

ContractPodAi is a fast-growing, AI-based contract management solution provider, empowering global corporations across the world with the ability to read, interpret, analyse and report on key contract data.

Their end-to-end contract management solution removes the need for team members to make the first review of a third party contract. By leveraging the power of natural language processing and cognitive technology, ContractPodAI thus allows legal teams to streamline their document review process.

Apperio — Legal spend software for General Counsels

UK-based, 2012 founded, $12.9m raised, 30 employees

Where’s the good stuff?

Raised $10m towards the end of last year in a round led by Draper Esprit, included in Tech Nation’s 2019 Upscale cohort and have a wealth of large enterprise clients including Just Eat, Monzo and Network Rail.

What do they do?

Apperio automates legal spend management and analytics, enabling in-house lawyers to effortlessly track & analyse legal spend across all law firms, in real-time and one place.

Apperio provides a dashboard and alerts which monitor fees incurred for specific deals, as well as analytics giving an aggregated view of legal spend across the businessenabling reports on where the legal budget is going.Their tendering feature also means that you can quickly and easily tender work to chosen law firms.

Luminance — The AI platform for the legal profession

UK-based, 2015 founded, $23M raised, 60 employees

Where’s the good stuff?

Raised $10M this month primarily from existing investor Invoke capital, valuing the company at $100M. They boast over 120 customers across 40 countries including 14 of the Global Top 100 law firms.

What do they do?

The company’s software uses a kind of machine learning based on probability theory to automatically sort documents into categories, identify clauses and spot anomalies. The goal is to save law firms and corporate legal departments thousands of hours of human labor.

Luminance understands language the way humans do in higher volumes and at speed. It provides an immediate and global overview of any company, picking out warning signs without the need for instruction. Whether used for due diligence, compliance, insurance or contract management, Luminance adds value to a legal team, freeing lawyers to focus on what matters.

Libryo — A better way to know the law

South Africa-based, 2016 founded, $1m raised, 28 employees

Where’s the good stuff?

Included in the UK’s leading law-tech startups by Techworld and came runner up in the new IT Product of the Year category at the British Legal Technology Awards 2018. Through Libryo’s partnerships outside of the UK, the platform is used by Unilever, GSK and BAT.

What do they do?

Libryo’s cutting-edge technology has been designed from the ground up to give compliance professionals a clear understanding of what law applies to them in a user-friendly way. With the click of a button, Libryo enables compliance professionals to overcome regulatory complexity and understand their organisation’s legal obligations, in any geography and situation.