BlackBoiler offers patented AI-powered contract review software that automates the markup and redlining of contracts in “Track Changes,” mimicking human review processes. This technology enables companies to standardize contract negotiations, reduce review time, and enhance compliance with internal playbooks, ultimately accelerating deal closures and lowering operational costs.
Funding
$8.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Legal teams face challenges in efficiently reviewing and negotiating contracts due to the high volume of documents, the risk of human error, and the need to ensure compliance with company-specific playbooks. Manual contract review processes are time-consuming, costly, and can lead to inconsistencies in risk assessment and adherence to company standards.
Solution
BlackBoiler offers an AI-powered contract review solution that automates the markup and redlining of contracts directly within Microsoft Word using "Track Changes," mirroring the way human reviewers work. The patented AI technology analyzes inbound contracts against a company's negotiation playbook, automatically suggesting edits and flagging inconsistencies to standardize contract negotiations. By leveraging historical contract review data and NLP, BlackBoiler accelerates deal closure, reduces operational costs, and frees up legal resources for more complex tasks. The software integrates with existing contract lifecycle management (CLM) systems, providing a seamless workflow for legal teams.
Target Audience
BlackBoiler is designed for in-house legal teams, law firms, and legal service providers seeking to automate and standardize their contract review processes, reduce risk, and improve efficiency.
Features
- AI-powered contract review and markup directly in "Track Changes" within Microsoft Word
- Automated redlining based on a company's custom negotiation playbook
- Patented AI and NLP technologies for identifying and suggesting edits to contract clauses
- Non-generative AI ensures suggestions are tailored to the company's specific playbook, minimizing irrelevant or incorrect data
- Surgical editing approach that pinpoints specific words or phrases needing revision, reducing "ink spillage" and improving negotiation efficiency
- Integration with LawVu and other CLM systems for a streamlined legal workspace
- Customizable AI models that adapt to a company’s specific contract templates
- Scalable solution that handles contracts of varying complexity and volume