Funding to accelerate growth of AI and R&D teams developing Jus AI, the Generative AI research and productivity assistant for global legal professionals
PARIS, Sept. 11, 2024 /PRNewswire-PRWeb/ -- Jus Mundi, the global legal AI company, today announced that it will launch Jus AI, its research and productivity assistant for global legal professionals, at IBA Mexico on September 16. In addition, the company has secured €20M (US $22M) in Series B funding, one of the largest rounds of funding for a European legal tech company. The round was led by Germany-based Acton Capital and Singapore-based True Global Ventures, with participation from historic investors France-based C4 Ventures and US-based FJ Labs. The funding will support R&D efforts to further develop its AI and expand beyond the 80 countries in which Jus Mundi currently has a presence.
Jus AI will enable Jus Mundi, which offers a unique law and arbitration database, to transform the legal workflow of global legal professionals by making access to its unique content more convenient and efficient.
"Jus AI's sophisticated, multilingual capabilities enhance collaboration and include timely natural language responses to queries; reliable input backed by citations to informational sources; and a suite of tools that includes legal document summarization, translation and drafting to enhance efficiency," according to Jean-Rémi de Maistre, Jus Mundi CEO and co-founder.
"Designed for legal research and increased productivity across jurisdictions, Jus AI can analyze documents uploaded by users and perform professional search sourced from Jus Connect's thousands of data-backed profiles," he added.
Jus AI has been piloted for several months, with more than 20 clients participating in the exclusive Jus AI Acceleration Program; they include DLA Piper, Reed Smith, Clyde & Co, Greenberg Traurig, Yulchon and Bredin Prat and have reported a doubling of productivity across legal research, analysis, drafting and translation tasks.
"Jus AI has significantly enhanced our efficiency, providing invaluable access to summaries of extensive decisions. It's particularly useful when researching specific topics. By swiftly compiling relevant decisions, Jus AI has optimized our research, enabling us to focus more on strategic deliberation," said Rebeca Mosquera, Senior Associate, International Arbitration, Reed Smith; and President, ArbitralWomen.
The €20M (US $22M) funding round was closed on August 2, 2024, and de Maistre said that funders' participation demonstrates their endorsement of Jus AI. "Acton Capital's extensive experience in the legal tech space and True Global Ventures' experience and expertise in AI and growing global unicorns will help Jus Mundi establish itself as the global leader in AI-based legal intelligence," he said.
Acton Capital's Managing Partner, Fritz Oidtmann, added, "Acton Capital has a proven track record in investing in legal technology innovations, which includes our investments in Clio and Henchman. We are thrilled by the tremendous value Jus Mundi already provides to its customers. Jus AI represents a sea change in how cross-border legal work is conducted, and we're thrilled to participate in this round."
True Global Ventures' Founding Partner, Frank Desvignes, said, "Jus AI brings artificial intelligence technology to the legal field at scale, and our investment reflects our belief in how transformative it will be to the sector and how Jus Mundi can become a global market leader. TGV has a global presence, with a strong footprint across the San Francisco Bay Area, New York, Paris, London, Stockholm, Dubai, Singapore and Hong Kong. Our decade-plus experience in AI investments, positions us well to support Jus Mundi's global growth plans."
C4 Ventures Partner, Eric Boustouller, commented, "As cornerstone investor in Series A, C4 Ventures is proud to support Jus Mundi and other technologies that have the potential to reshape entire industries. Jus Mundi's vision for and execution of Jus AI will bring new AI-based innovations to an even wider global audience, further transforming the way legal professionals work."
More than 70 partnerships with legal institutions around the world fuel Jus AI's research, drafting and translation capabilities. Users' insights remain private; Jus AI is designed to adhere to strict confidentiality standards.
For additional information about Jus AI, visit https://jusmundi.com/en/jus-ai.
About Jus Mundi: Founded in 2019 and recognized as a mission-led company, Jus Mundi is a pioneer in the legal technology industry dedicated to powering global justice through artificial intelligence. Headquartered in Paris, with additional offices in New York, London and Singapore. Jus Mundi serves over 150,000 users from law firms, multinational corporations, governmental bodies and academic institutions in more than 80 countries. Through its proprietary AI technology, Jus Mundi provides global legal intelligence, data-driven arbitration professional selection and business development services.
About Acton Capital: Since 1999, Acton Capital has invested in digital transformation worldwide with strong focus on Europe and North America. With 25 years of investment experience and a deep understanding of tech-enabled business models, the team has invested over EUR 800+ million across six fund generations. For additional information about Acton Capital, visit https://actoncapital.com/. Follow Acton Capital on LinkedIn.
About True Global Ventures: True Global Ventures is a global technology equity venture capital firm built by a group of serial entrepreneurs with two actively deploying funds: TGV 4 Plus Fund (early stage) and TGV Opportunity Fund (late stage). TGV has a solid track record of investing its own money, together with Limited Partners, into tech ventures run by serial entrepreneurs. Portfolio companies leverage blockchain and artificial intelligence (AI) as competitive advantages to drive change with proven products. For additional information about TGV, visit www.tgv4plus.com. Follow TGV on LinkedIn and X. For additional information, email [email protected].
About C4 Ventures: C4 Ventures, a leading European venture capital fund, has invested in over 50 technology startups since 2014, nine of which have become unicorns. C4 Ventures is part of C4 - an entrepreneurial platform founded in 2004 by Pascal Cagni, whose sole mission is to support entrepreneurs and accompany them on their journey.
Media Contact
Lauren Schiffman, Jus Mundi, 1 415-684-8080, [email protected], https://jusmundi.com/en
SOURCE Jus Mundi
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