Formality
About Formality
Provides an AI-powered contract management platform that centralizes and automates the organization, tracking, and renewal of legal documents. It reduces risks from missed deadlines, incomplete contracts, and inefficient processes, enabling teams to improve productivity and maintain compliance with automated alerts and secure document handling.
```xml <problem> Many organizations struggle with managing contracts effectively, leading to missed deadlines, incomplete documentation, and inefficient workflows. This disorganization increases the risk of non-compliance and lost revenue due to poor contract oversight. </problem> <solution> Formality offers an AI-powered contract management platform that centralizes and automates the entire contract lifecycle, from document organization to renewal tracking. The platform uses AI to extract key dates and clauses, providing automated alerts via Slack or Teams to prevent missed deadlines. By connecting to existing tools, Formality automatically classifies and organizes documents, ensuring that teams always have access to up-to-date information. The AI assistant can instantly answer questions about contracts, improving team autonomy and reducing the workload on legal departments. </solution> <features> - AI-powered document classification and organization - Automated extraction of key dates and clauses - Real-time alerts and notifications via Slack or Teams - AI assistant for instant contract information retrieval - Integration with existing tools for seamless data collection - Role-based access controls for secure document management - GDPR compliance with data hosted on certified European servers - Reversibility of data guaranteed through One Clause project adherence </features> <target_audience> Formality is designed for legal teams, finance departments, and operations managers who need to streamline contract management, reduce risks, and improve team productivity. </target_audience> ```
What does Formality do?
Provides an AI-powered contract management platform that centralizes and automates the organization, tracking, and renewal of legal documents. It reduces risks from missed deadlines, incomplete contracts, and inefficient processes, enabling teams to improve productivity and maintain compliance with automated alerts and secure document handling.
Where is Formality located?
Formality is based in Évry, France.
When was Formality founded?
Formality was founded in 2023.
How much funding has Formality raised?
Formality has raised 11550000.
Who founded Formality?
Formality was founded by Eliott Reilhac.
- Eliott Reilhac - Co-founder/CEO
- Location
- Évry, France
- Founded
- 2023
- Funding
- 11550000
- Employees
- 19 employees
- Major Investors
- Partech, Serena