LexCheck offers LLM-powered contract review software that integrates directly with Microsoft Word to provide accurate redlines and transparent insights on problematic contract language. This technology reduces the time spent on contract review by over 75% and minimizes legal costs by more than 50%, streamlining the negotiation process for legal teams.
Funding
$22M 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.
MFFounders
Product
Problem
Legal teams face challenges in efficiently reviewing and negotiating contracts due to the time-consuming nature of manual review, the risk of overlooking problematic clauses, and the need for consistent application of internal policies. This can lead to delays in deal closures, increased legal costs, and potential exposure to unfavorable terms.
Solution
LexCheck offers an AI-powered contract review platform that integrates directly into Microsoft Word, providing immediate insights and accurate redlines. By leveraging advanced large language models (LLMs), the software analyzes contract language against a company's pre-defined playbook, identifying potential issues and suggesting preferred language. This enables legal teams to accelerate contract negotiations, reduce review time, and ensure consistent adherence to internal standards. The platform streamlines workflows by providing transparent explanations of AI's rationale and facilitating easy updates to playbooks.
Target Audience
LexCheck is designed for in-house legal teams, contract managers, and procurement professionals who seek to streamline contract review processes, reduce legal costs, and ensure compliance with internal policies.
Features
- LLM-powered contract review providing accurate redlines and transparent insights.
- Direct integration with Microsoft Word for seamless workflow.
- Customizable playbooks that capture preferred language and positions.
- Automated identification of problematic contract language based on defined guidelines.
- Instant insights explaining the AI's rationale for flagged issues.
- Rapid implementation allowing users to upload templates and start reviewing contracts quickly.
- Secure and well-established AI technology to minimize risk.