The Kyoto University spinout backed by the institution’s i-Cap fund has secured $25.5m in funding from returning investors.
LegalForce, a Japan-based contract review technology spinout of Kyoto University, completed a ¥2.7bn ($25.5m) series C round today featuring financial services firms Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corporation.
The banks have invested through respective venture capital vehicles Mitsubishi UFJ Capital, Mizuho Capital and SMBC Venture Capital, and were joined by startup incubator operator Dream Incubator’s Dimension fund and VC firm Jafco.
Japan Finance Corporation and Mitsubishi UFJ Bank provided an additional $2.8m in debt financing, and the round took the company’s overall funding to roughly $42.5m since it was founded in 2017.
LegalForce is working on an artificial intelligence-equipped and cloud-based legal document analysis tool dubbed Marshall. The software detects risks in written contracts and helps legal professionals amend the wording.
Kyoto University’s Innovation Capital (Kyoto i-Cap) fund and VC firm World Innovation Lab had joined Mitsubishi UFJ Capital, SMBC Venture Capital, Mizuho…
