LONDON: Intelligent Legal Solutions (ILS), the company behind the leading side letter management platform, ProVision, announced today a strategic investment from The LegalTech Fund (TLTF), a U.S. venture capital firm focused exclusively on companies transforming the world of law.

Launched in 2024, ILS designs reliable, intuitive software that automates time-consuming legal tasks so lawyers can increase efficiency, improve quality, and focus on higher-value work. Its flagship platform, ProVision, streamlines legal processes involved in raising investment funds, including side letter management and negotiation, and the MFN process, providing a searchable provision database to speed drafting and negotiations.

Grounded in real-world legal experience, and developed in partnership with its customers, the ILS team rigorously maps legal workflows and mirrors them with robust and secure software solutions. These provide solid foundations where the most advanced AI technologies can be deployed reliably with a fail-safe approach in which outputs are verified by strict rules in line with legal workflows and users can review and sign off at every stage. Rather than a necessary element of these solutions, AI is deployed with surgical precision only where it meaningfully improves speed, accuracy or efficiency, and exclusively with customer consent.

“Our rapid growth over the past year, demonstrated by partnering with a majority of the world’s top law firms, is a strong validation of our vision,” said Jack McCarthy, Co-Founder. “Backed by industry leaders such as Goodwin, Proskauer, and Ropes & Gray, we’re proud to be at the forefront of the legal sector’s transition into the modern AI era by delivering flexible, intuitive tools designed specifically for private investment funds lawyers.”

Rob Newham, of Proskauer said, “As a firm, Proskauer has been deeply involved with ProVision since we first became aware of its transformative capabilities, especially for side letter management. Having helped the team develop its current product offering - and now working closely with the firm to help build some game-changing future features - we are thrilled ILS has secured this important investment, which will help revolutionize our product offering to clients.”

The funding from The LegalTech Fund will support accelerated product development and market expansion, deepening ILS’ collaboration with leading law firms and fund counsel.

“Intelligent Legal Solutions is tackling one of the most complex and time-consuming challenges in raising private funds with a product that is already trusted by many of the world’s top law firms. ProVision is a clear example of how workflow-driven technology can deliver immediate value to lawyers and their clients. We’re excited to support the ILS team as they expand and continue building tools that raise the bar for what legal technology can achieve,” said Co-Founder & Managing Partner of The LegalTech Fund, Zach Posner.

This investment will support significant team growth and accelerate ILS’ expansion, with a particular focus on the U.S. market. Fergus Plant, Co-Founder, said, “The U.S. is extremely important to us, the market for investment funds legal practice is especially strong in central hubs such as NY and Boston which, along with London and other European capitals, are the main engines that power the industry. We want to ensure these regions remain a key focus of our expansion.”

About Intelligent Legal Solutions

ProVision by Intelligent Legal Solutions, is the leading side letter management and MFN automation platform purpose built for private investment funds lawyers, and trusted by the world’s top law firms. Learn more at www.intelligentlegalsolutions.co.uk.

About The LegalTech Fund

The LegalTech Fund is the first and only venture capital fund focused exclusively on investing in companies transforming the legal industry. TLTF backs high-growth legal technology startups driving change across the legal ecosystems and its adjacent industries. Learn more at www.legaltech.com.

Fonte: Business Wire