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ThoughtRiver
Reviews contracts via a contract intelligence engine
- 21-100 employees
- B2B
- Artificial Intelligence
- Legal
- Blockchain
- City of London, London, UK
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Company mission
To make contracts easy to understand for everyone.
20% employee growth in 12 months
Our take
ThoughtRiver is a legal tech company that addresses a fundamental problem for in-house counsels and lawyers: you don’t know whether you need to read a contract without reading it. ThoughtRiver’s contract pre-screening technology uses machine learning and legal intelligence to automate the initial scan and analysis of contracts to produce an actionable recommendation on what to do next with the contract – and why.
Developed by ThoughtRiver’s lawyers and its partners who are domain experts, Lexible is a universal contract description framework that uses 1000s of data points to build a detailed picture of legal obligations and rights within any legal agreement. Lexible comes pre-programmed with thousands of questions posed by real lawyers. It works by first deploying a sophisticated language processing (NLP) engine developed in collaboration with Cambridge University. This allows it to understand the meaning of the words within an agreement. ThoughtRiver can then ask and answer thousands of questions according to their Lexible framework to build a detailed picture of the obligations and rights within the agreement. All of this data is then summarised into clear, actionable advice.
It also aims to promote partnerships with ThoughtRiver to legal service providers who can create new sources of income using its services. For example, by configuring the platform to answer specific questions and identify certain risks, legal service providers can allow their clients to review contracts on the ThoughtRiver platform through a sub-account. This review takes minutes, not hours, which creates an opportunity for a profitable and repeatable new revenue stream. The company aspires to make its technology available and accessible to companies around the world. ThoughtRiver works with in-house legal teams, general counsels and law firms.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Experience the thrill of working with state-of-the-art technology and disrupting the legal sector with exciting new approaches
- Enjoy a collaborative, supportive, and dynamic work culture, combining specialist squads with cross-team cooperation
- Get in-depth training and one-to-one support as you build your career at ThoughtRiver and map out your professional goals
- Work for a global company with teams in Cambridge, London, New York, Texas, and Singapore serving customers worldwide
- Be part of a firm that takes climate change seriously, with an action plan in place to eliminate our environmental impact
- Take part in a regular programme of fantastic team-building and social activities to foster a collaborative spirit
Company values
- Passionate
- Agile
- Pacey
- Accountable
- Determined
- Sociable
Funding (last 2 of 3 rounds)
Aug 2020
$10m
SERIES A
Mar 2019
$0.4m
GRANT
Total funding: $14.2m
This company has top investors
Leadership
Tim Pullan
(CEO)Previously worked for 4 years at Experian Marketing Analytics, Asia Pacific, first as Commercial Director for 2 years, and then as Managing Director also for 2 years.