Brightflag Raises $8.5 Million In Series A Funding For Expansion In Legal Technology Market
Sands Capital Ventures leads round alongside Frontline and Tribal, furthering investment in AI legal technology.
(April 9, 2019) Brightflag, the intelligent platform for modern legal departments, is excited to announce that we have raised $8,500,000 Series A funding. The round was led by Sands Capital Ventures with participation from existing investors Frontline Ventures and Tribal Ventures. The funds will be used to continue Brightflag’s rapid global growth. Brightflag provides leading organizations like Uber and Telstra with an A.I. powered platform to manage their corporate legal department.
Brightflag has tripled in size year on year since product launch in 2015 and has rapidly become the market-leading platform for forward-thinking legal departments.
The investment round will enable Brightflag to further capitalize on our position as a global leader in the legal technology industry by recruiting new team members across our offices in Dublin, New York, and Sydney. The roles will be created throughout the organization’s engineering, data science, and growth teams.
This round brings the total amount raised by Brightflag to $11 million.
Brightflag’s platform provides legal teams with a system of record and allows them to automate previously manual processes like invoice review using A.I. technology. The data created by Brightflag’s A.I. is used to help control legal spend and provides in-depth analytics on the type of legal work delivered by the department to help with decision making.
Comments on the news
Ian Nolan, CEO of Brightflag says, “We’re excited to enter this new phase of growth in Brightflag. Our team has built an amazing technology that is driving real change in the legal industry, and we’re excited to play a part in this sea-change. We’re delighted to welcome onboard our new investor Sands Capital Ventures to support us through this journey.”
Launched in 2015, Brightflag provides intelligent software for corporate legal teams and their outside counsel from offices in Dublin, New York, and Sydney. Brightflag’s platform uses the company’s proprietary A.I. machine learning technology to provide leading legal departments worldwide with more intelligent matter management, e-billing, invoice review, and legal analytics.
About Sands Capital Ventures
Sands Capital Ventures (SCV) invests in entrepreneurs building businesses in three dynamic, high-growth markets: Technology, Life Sciences, and Global Consumer. As the venture capital affiliate of Sands Capital Management, SCV brings significant global domain experience to its portfolio companies in its areas of focus. SCV backs businesses that are creating scalable innovations that have the potential to become market leaders.
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