Goldman Sachs has taken the lead in a significant $50 million Series E funding round for LegalOn Technologies, a pioneering legal tech startup with headquarters in Tokyo and San Francisco. This investment marks a major milestone for the Japan-US company, which specializes in AI-driven legal workflow solutions, including contract review and matter management.
LegalOn Technologies has rapidly gained traction, serving over 7,000 organizations across Japan, the US, and the UK. The company boasts a dominant 25% market share among public companies in Japan, with its AI tools reportedly reducing contract review times by an impressive 85%.
In addition to the funding, LegalOn has announced a strategic partnership with OpenAI to develop advanced AI agents tailored for legal work. This collaboration aims to further enhance the efficiency and accuracy of legal processes for businesses worldwide.
The funding round also saw participation from new investors such as Mori Hamada, Mizuho Bank, and Shoko Chukin Bank, alongside existing backers like SoftBank and HongShan. This diverse investor base underscores the growing confidence in LegalOn’s potential to revolutionize the $4 billion legal tech market.
With the fresh capital, LegalOn plans to expand its AI contract review capabilities and strengthen its presence in international markets. The company aims to address the increasing demand for automation in legal workflows as businesses seek cost-effective and efficient solutions.
This development positions LegalOn Technologies as a frontrunner in the legal AI sector, with the backing of industry giants and cutting-edge technology partnerships paving the way for future growth and innovation.
Alfred Lee
