HOUSTON, Oct. 1, 2024 — DocJuris, a leader in AI contract review, announced today the successful closure of its Series A funding round, raising $8 million in new capital, bringing the total capital raised to date to $11.2 million. The round was led by Silverton Partners, the most active venture capital firm in Texas, with participation from previous investors Watertower Ventures, Surface Ventures, and Seed Round Capital.
DocJuris’s AI-powered contract negotiation software automates key tasks during the review, redlining, and negotiation of contracts. These capabilities come at a critical time for enterprise teams and general counsels. In a DocJuris survey of 700+ in-house attorneys and contract administrators, an astonishing 74% of companies manually review and draft contracts, amounting to significant errors and time lost in legal operations, sales cycles, and supply chain management.
The key to DocJuris’s success has been rooted in unmatched AI functionality that makes contract negotiations lightning-fast, compliant, and more enjoyable. Several Fortune 500 companies — including Siemens, Dell, FedEx, Toyota, and Duke Energy — leverage DocJuris for various contract management tasks. They use the platform to screen third-party contracts in seconds, redline clauses with playbook-compliant edits in one click, and generate perfectly formatted track changes, exception tables, and amendments — all from a streamlined, cloud-based application.
“DocJuris AI has become an industry-leading platform that empowers enterprise legal, procurement, and sales teams to close deals faster while reducing risk,” said Henal Patel, CEO and Founder of DocJuris. “With this funding, we will continue scaffolding our platform around generative AI, expand our customer success team, and grow our user base.”
The Association of Corporate Counsel, the largest network of enterprise in-house counsel in the world, awarded DocJuris the Value Champion Award in 2023 for reducing contract cycle times to minutes with AI. This prestigious award is given to only 1% of legal technology vendors and was part of a DocJuris customer case study with Flex, a Global Fortune 500 electronics manufacturing company.
Iringo Csifo-Nagy, Lead Attorney for Flex’s Global Procurement and Supply Chain, stated, “The average turnaround time for redlining a complex supply chain agreement was eight days, and our contract volumes were increasing. It was time for a change. We wanted to replace repetitive, manual tasks and free up valuable time for our employees to focus on more impactful work. To achieve this, we developed a turnkey solution for AI-driven contract reviews together with the DocJuris team.”
About DocJuris
Headquartered in Houston, DocJuris is a dynamic legal tech company committed to revolutionizing contract review and negotiation with its state-of-the-art AI platform. Led by a seasoned team of legal professionals and tech enthusiasts, DocJuris optimizes contract review processes, guarantees policy alignment, and reduces contract negotiation timeframes.
For press inquiries only:
PR Contact Name: Kirsten LeBouef
Email: [email protected]
For more information on DocJuris:
www.DocJuris.com
SOURCE DocJuris, Inc.
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