London, United Kingdom
Lexical Labs is a UK-based startup founded in 2015, specializing in AI, Cloud Infrastructure, and Platforms. The company's slogan, "Simplifying contract negotiation with intelligent review software," encapsulates its core mission of providing virtual in-house contract lawyering services. Their AI-driven contract analysis engine stands out for its ability to streamline the contract review process, enabling users to generate counter-proposals in minutes.
Lexical Labs caters to clients negotiating high-volume contracts by automating the review of third-party contracts against business requirements or a counterparty mark-up to a customer's own standard routine contracts. Their AI-enhanced contract review system accelerates the negotiation of high-volume contracts by analyzing them against a playbook of legal and commercial issues, thereby expediting the process.
The company's founding team, with extensive experience in technology and law, has successfully integrated expert legal systems with powerful AI algorithms to promote human-technology collaboration. Their UI, designed by lawyers, assists users in navigating key concepts, pinpointing text related to specific provisions, and providing detailed commentary to facilitate legal review.
Furthermore, Lexical Labs harnesses cloud-based technology, integrating machine learning and logic techniques with codified legal expertise to transform the contract negotiation process. Notably, their last investment, a non-equity assistance investment, was received from Tenity on 19 September 2019.
