NEW YORK, MAY 10, 2023 – Factor, the market leader in Integrated La️w, and LegalSifter®, a Combined Intelligence™️ company, today announced a strategic alliance that brings together the global scale of Factor and the innovative technology of LegalSifter to drive better outcomes for clients. The partnership comes on the heels of a strategic investment into LegalSifter from Factor and Carrick Capital Partners, of which Factor is a portfolio company. As part of this transaction, Factor CEO Varun Mehta joined the LegalSifter board of directors.
LegalSifter leverages differentiated artificial intelligence and human expertise to optimize pre- and post-execution contracting activities. As part of the agreement, Factor will introduce LegalSifter Review tool into its Integrated Contracting Platform, the unified set of capabilities underpinning the company’s scaled managed contracting services.
Factor negotiators will use LegalSifter Review to speed handling of counterparty contractual provisions and mark-up based on client-specific legal guidance, even when working from third-party paper. In addition, Factor will use LegalSifter to streamline playbook creation and maintenance, enabling greater consistency and integration across each client’s environment.
“AI holds great promise to boost the ability of lawyers and others to negotiate better contracts in a more standardized way,” said Jessica Block, Executive Vice President of Market Solutions at Factor. “We see opportunities for multiple, high-impact use cases as we evolve Factor’s Integrated Contracting Platform, ranging from smart legal front-door and no-touch/low-touch capabilities to concierge-assisted contracting to full-service, lawyer-led contracting negotiations.”
“We are excited to partner with Factor. Their global service teams and our AI-enabled, expertise-laden software are a good match. Our clients, both Factor’s and LegalSifter’s, will benefit,” said Kevin Miller, CEO of LegalSifter.
LegalSifter will be spotlighted as a technology partner in the Factor booth at the CLOC Global Institute in Las Vegas from May 15 – 18, 2023. Stop by Booth #406 to meet with the Factor and LegalSifter team.
Factor is the market leader in Integrated Law. Factor works alongside corporate legal departments and law firms to solve the ever-increasing demands and complexity of transactional legal work like contracting. With 10+ years of focused experience, Factor integrates the expertise of Traditional Law, and the efficiency of New Law, with the close business understanding and integration of In-house legal to deliver complex legal work at scale. Factor helps reposition and focus in-house legal on advisory, solves business problems, and balances commercial opportunities with legal risks.
Factor is not a law firm and does not provide legal advice. For more information, go to https://www.factor.law or LinkedIn.
LegalSifter is a combined intelligence™️ company dedicated to bringing affordable legal services to the world by empowering people with artificial intelligence and human expertise. Our products help people negotiate contracts and organize documents faster, safer and more affordably. Headquartered in Pittsburgh, Pennsylvania (USA), LegalSifter offers its products to thousands of people and partners in 18 countries. For more information, visit www.legalsifter.com.