Onit acquires legal startup McCarthyFinch to inject AI into legal workflows

Onit, a workflow software company based in Houston with a legal component, announced this week that it has acquired 2018 TechCrunch Disrupt Battlefield alum McCarthyFinch.  Onit intends to use the startup’s AI skills to beef up its legal workflow software offerings.
The companies did not share the purchase price.
After evaluating a number of companies in the space, Onit focused on McCarthyFinch, which gives it an artificial intelligence component the company’s legal workflow software had been lacking. “We evaluated about a dozen companies in the AI space and dug in deep on six of them. McCarthyFinch stood out from the pack. They had the strongest technology and the strongest team,” Eric M. Elfman, CEO and co-founder of Onit told TechCrunch.
The company intends to inject that AI into its existing Aptitude workflow platform.”Part of what really got me excited about McCarthyFinch was the very first conversation I had with their CEO, Nick Whitehouse.


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/n_Sq2t4A5EE/

Original article

Lawyers hate timekeeping. Ping raises $13M to fix it with AI

Counting billable time in six minute increments is the most annoying part of being a lawyer. It’s a distracting waste. It leads law firms to conservatively under-bill. And it leaves lawyers stuck manually filling out timesheets after a long day when they want to go home to their families.
Life is already short, as Ping CEO and co-founder Ryan Alshak knows too well. The former lawyer spent years caring for his mother as she battled a brain tumor before her passing. “One minute laughing with her was worth a million doing anything else” he tells me. “I became obsessed with the idea that we spend too much of our lives on things we have no need to do — especially at work.”
That’s motivated him as he’s built his startup Ping, which uses artificial intelligence to automatically track lawyers’ work and fill out timesheets for them. There’s a massive opportunity to


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/YzsZVyNesGA/

Original article

Legaltech startup Genie AI scores £2M seed for its ‘intelligent’ contract editor

Genie AI, a legal tech startup and Entrepreneur First alumni, has raised £2 million in funding. The round is a combination of equity and a U.K. government grant, and will be used to continue development of the company’s “intelligent” contract editor for law firms and an upcoming product targeting GDPR compliance.
Leading the £1.2 million equity investment is Connect Ventures, with participation from a number of angel investors, including former President of the Supreme Court Lord Neuberger and Professor Jun Wang at UCL. The £800,000 grant was awarded by UK Research and Innovation.
“Lawyers always tell us ‘I know I’ve done something like that before,’ but in large firms it’s a real pain to dig past drafting out of emails, document management systems and the minds of senior lawyers,” says Genie AI co-founder and CEO Rafie Faruq. “SuperDrafter solves this by automatically curating relevant knowledge from around the firm, and recommending clauses


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/573BskSbFyA/

Original article

Workplace messaging platform Slack has confidentially filed to go public

Slack, the provider of workplace communication and collaboration tools, has submitted paperwork with the Securities and Exchange Commission to go public later this year, the company announced on Monday.
This is its first concrete step toward becoming a publicly listed company, five years after it launched.
Headquartered in San Francisco, Slack has raised more than $1 billion in venture capital investment, including a $427 million funding round in August. The round valued the business at $7.1 billion, cementing its position as one of the most valuable privately held businesses in the U.S.
The company counted 10 million daily active users around the world and 85,000 paying users as of January 2019. According to data provided (via email) by SensorTower, Slack’s new users on mobile increased roughly 21 percent last quarter compared to Q4 2017, while total installs on mobile grew 24 million. The company recorded 8 million installs in 2018, up 21 percent year-over-year.
Slack’s investors


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/1zYg6aoGgds/

Original article

Canada’s Corel is acquiring virtualization specialist Parallels in an all-cash deal

Some consolidation is afoot in the world of business software. TechCrunch has learned that Parallels, the virtualization specialist with millions of users, is getting acquired by Corel, the Canadian company behind design apps like CorelDraw and other productivity apps like WordPerfect.
Some employees at Parallels have already been briefed on the acquisition, which is expected to be announced to the whole company today. Terms have not been disclosed but we understand it is an all-cash deal.
Corel has changed ownership and gone in and out of being listed publicly a number of times since being founded in the 1980s in Ottawa. It’s now owned by Vector Capital, which is essentially the one buying Parallels.
From what we understand, Corel will keep Parallels an independent product.
Parallels was originally founded in 1999 with roots in Russia and is currently headquartered in Bellevue, Washington. It has never made much of a fanfare around its financing or


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/1w_LwOV02RM/

Original article

Microsoft closes its $7.5B purchase of code-sharing platform GitHub

After getting EU approval a week ago, today Microsoft’s acquisition of GitHub, the Git-based code sharing and collaboration service with 31 million developers, has officially closed. The Redmond, WA-based software behemoth first said it would acquire GitHub for $7.5 billion in stock in June of this year, and after the acquisition closed it would continue to run it as an independent platform and business.
The acquisition is yet another sign of how Microsoft has been doubling down on courting developers and presenting itself as a neutral partner to help them with their projects.
That is because, despite its own very profitable proprietary software business, Microsoft also has a number of other businesses — for example, Azure, which competes with AWS and Google Cloud — that rely heavily on it being unbiased towards one platform or another. And GitHub, Microsoft hopes, will be another signal to the community of that position.
In that regard, it will be


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/N4vZ0XTcWOE/

Original article

Rich-text editing platform Tiny raises $4M, launches file management service

Maybe you’ve never heard about Tiny, but chances are, you’ve used its products. Tiny is the company behind the text editors you’ve likely used in WordPress, Marketo, Zendesk, Atlassian and other products. The company is actually the result of the merger of Moxiecode, the two-person team behind the open source TinyMCE editor, and Ephox, the company behind the Textbox.io editor. Ephox was the larger company in this deal, but TinyMCE had a significantly larger user base, so Tiny’s focus is now almost exclusively on that.
And the future of Tiny looks bright thanks to a $4 million funding round led by BlueRun Ventures, the company announced today (in addition to a number of new products). Tiny CEO Andrew Roberts told me the round mostly came together thanks to personal connections. While both Ephox and Moxiecode were profitable, now seemed like the right time to try to push for growth.
Roberts also noted that


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/j-LCqplceuA/

Original article

GitLab raises $100M

GitLab, the developer service that aims to offer a full lifecycle DevOps platform, today announced that it has raised a $100 million Series D funding round at a valuation of $1.1 billion. The round was led by Iconiq.
As GitLab CEO Sid Sijbrandij told me, this round, which brings the company’s total funding to $145.5 million, will help it enable its goal of reaching an IPO by November 2020.
According to Sijbrandij, GitLab’s original plan was to raise a new funding round at a valuation over $1 billion early next year. But since Iconiq came along with an offer that pretty much matched what the company set out to achieve in a few months anyway, the team decided to go ahead and raise the round now. Unsurprisingly, Microsoft’s acquisition of GitHub earlier this year helped to accelerate those plans, too.
“We weren’t planning on fundraising actually. I did block off some time in my calendar next year,


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/GqkeGze04Ms/

Original article

Browser maker Opera has filed to go public

Norway-based company Opera Ltd. has filed for an initial public offering in the U.S. According to its F-1 document, the company plans to raise up to $115 million.
In 2017, Opera generated $128.9 million in operating revenue, which led to a net income of $6.1 million.
While many people are already familiar with the web browser Opera, the company itself has had a tumultuous history. Opera shareholders separated the company into two different entities — the browser maker and the adtech operations.
The advertising company is now called Otello. And a consortium of Chinese companies acquired the web browser, the consumer products and the Opera brand. That second part is the one that is going public in the U.S.
Opera currently manages a web browser for desktop computers and a handful of web browsers for mobile phones. On Android, you can download Opera, Opera Mini and Opera Touch. On iOS, you’ll only find Opera Mini.


Original URL: http://feedproxy.google.com/~r/Techcrunch/~3/xCEwFPkOuhI/

Original article

Proudly powered by WordPress | Theme: Baskerville 2 by Anders Noren.

Up ↑

%d bloggers like this: