Clausehound

SectorCorporate Services
Revenue ModelB2B, SaaS

About

Clausehound is a legal tech company that’s innovating the way that professional industries interact with legal documents and commercial negotiations. Clausehound is a highly-customizable and easy-to-use digital platform that helps companies simplify their document handling processes through document automation tools, negotiation automation tools and knowledge capture tools.

We use our knowledge capture and document generation technology to automate negotiations (think, “robo-lawyer”). In this way, we’re helping companies automate their deal closing methodologies and removing the burden of time-consuming, human error-prone manual, traditional doc review. To this date, over 1,000 companies have used our platform to aid in their legal contract work.

We’re also leveraging our innovative platform to create online negotiation curriculum and simulations for business students, law students and professional development, currently serving over 60 educational institutions across North America. Institutions like Western University, Simon Fraser University and Temple University are using our curriculum to expose their students to blended learning-based negotiation simulations that will help them professionally and personally.

Based in Downtown Toronto, our tech and services have a wide North American reach with the innovation, education and SaaS industries and we’re proud to continue building our network of inspiring learners and “do-ers”.

Market Need

Deal documentation is complicated and lawyer-drafted documents are expensive and time-consuming. Our tech improves the ability to understand legal obligations, draft agreements and negotiate deals using: agreement explanations, insights, learning points, and drafting notes that are processed by Clausehound at high speed and re-indexed at the clause level. This allows the drafter of a document to: (a) directly within the document draft and at the push of a button, review learning points and historical knowledge collected from previously drafted agreements (including knowledge from prior versions of the same draft); (b) zoom in or out for in-depth review of prior language or philosophy around drafting points; (c) inject language or commentary directly into the draft for later discussion/recollection and/or finalization of the draft; and (d) expedite the red-line back-and-forth of typical commercial negotiations.

Our machine learning engine maps thousands of learning points into legal contracts, capturing tacit knowledge from prior deals. We assist professionals so that they are prepared to “ask the right questions” in their deal negotiations. In this way, we prepare individuals to have meaningful conversations with their lawyers, business counterparts and advisors, and to make informed contractual decisions.

Our software aids in facilitating the deal process by guiding the user from initial review of a document, to drafting and audit of the document, to negotiation and close of the deal.

Milestones

– Winner of the London Tech Alliance 60 Second Pitch Competition.

– Selected as the only startup company to provide software services to the Ryerson University Law Practice Program.

– Mentorship award for George Brown College’s startGBC program.

– Service provider for several Ontario municipalities

Product

Legal Tech, Legal Knowledge and Research, Artificial Intelligence, Document Automation, Negotiation Automation

Target

Law Firms, Consulting Firms, Financial Institutions, Product/Service Companies, Educational Institutions

Clausehound

Founders

Rajah Lehal

Rajah Lehal

Founder and CEO