News/Law
AI-Powered Klarity Raises $70M, Transforming Legal Document Review
Klarity, an AI-powered document review startup, has raised $70 million in a Series B funding round, highlighting the growing interest in using artificial intelligence to streamline legal and business processes. Key details of the funding round: The Series B round was led by Norwest Venture Partners, with participation from existing investors including Gradient Ventures, Oceans Ventures, and Picus Capital: This brings Klarity's total funding to $85 million, following a $15 million Series A round in 2022. The funding will be used to expand the company's team, improve its AI capabilities, and scale its operations to meet growing demand. How Klarity's...
read Jun 11, 2024This Years Summer Associates Are Being Trained on Gen AI
Several major law firms, including K&L Gates, Dechert, and Orrick Herrington & Sutcliffe, are training their summer associates on generative AI. The training focuses on using AI tools like research tools and chatbots emphasizing the importance of interacting effectively with AI to extract useful information. Each summer associate at K&L Gates for example was paired with a lawyer identified as a generative AI “power user” to integrate AI tools into their daily work. Signaling firms are already integrating these cutting-edge tools. Firms included sessions on key AI skills: prompt engineering as well as navigating specific law-focused AI tools, including DraftWise,...
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