Revolutionizing Contract Management with AI
LinkSquares is an AI-driven contract management software engineered to enhance the efficiency of legal teams in drafting, reviewing, and executing agreements. It provides comprehensive Contract Lifecycle Management (CLM) solutions, tailored for modern legal departments, and is fueled by groundbreaking AI technology.
The platform’s capabilities encompass pre-signature, e-signature, and post-signature processes, all in a centralized location.
Key Features:
- Document Digitization: Utilizes Smart Optical Character Recognition (OCR) to transform contracts into accessible, searchable text swiftly.
- Automatic Extraction & Organization: The AI system renames, categorizes, and tags contracts, facilitating easy retrieval of dates and terms from every agreement.
- Real-time Insights: The platform’s dashboards offer AI-generated insights, ensuring unparalleled transparency into the contract portfolio.
- End-to-end CLM: Delivers an all-inclusive solution for pre-signature, e-signature, and post-signature phases. This includes proprietary OCR, comprehensive text search, contract templates, version control, custom notifications, and the automated extraction of essential contract data.
- Centralized Repository: Stores contracts in a cloud-based hub, with AI algorithms pulling out key metadata to aid in efficient contract searches.
- Collaborative Workflows: With customizable templates and dynamic workflows, the tool streamlines agreement creation, review, and approval. There are also integrated collaboration tools for seamless operations.
AI-Powered Capabilities:
LinkSquares’ AI is designed to transform the modus operandi of legal teams. Its technology, developed after extensive training on millions of legal contracts and billions of data points, excels in handling legal document intricacies, promising utmost speed, accuracy, and reliable information access.
The AI undergoes a rigorous process:
- File Analysis: The system identifies the desired text, scans it across agreements, reviews the contained language, and then guides experts in annotating these documents.
- Model Training: The “Smart Value” models, once trained on expert-annotated contract language, are honed to each legal definition, ensuring peak accuracy before their deployment.
- Updates and Maintenance: With in-house AI development, LinkSquares ensures continuous AI accuracy monitoring and timely adjustments.
Company Profile: Founded in 2015 and headquartered in Boston, LinkSquares boasts a clientele that includes top-tier companies such as ProPharma, Bottomline, Drift, DraftKings, Fitbit, Igloo, TGI Fridays, and Wayfair. They have recently secured $100 million in funding, leading to a valuation of $800 million, with G Squared as the primary investor.
LinkSquares provides an invaluable platform to businesses inundated with contracts and other vital documents. Its Finalize tool helps legal teams curate a library of contract templates and pre-fabricated clauses, while the Analyze tool automatically summarizes a contract’s content.
Today, over 500 legal teams from esteemed companies, like Wayfair Inc. and Fitbit (a Google LLC subsidiary), employ LinkSquares, leading to an annual recurring revenue of $20 million. Aiming to amplify its international footprint and product suite, LinkSquares plans to augment its workforce to 500 members.
Future Outlook:
Under the leadership of CEO Vishal Sunak, LinkSquares envisions transcending traditional dependency on standalone products and spreadsheets, aiming to unearth hidden data crucial for executive decision-making. Backed by Gartner’s research that predicts a threefold surge in technology budgets of legal departments by 2025, LinkSquares is positioned to ride this upward trajectory, reinventing how legal teams operate.
