Clearlaw, an AI-powered contract intelligence platform, recently announced a technology partnership with the process experience platform Tonkean.
The collaboration comes several months after Tonkean unveiled LegalWorks, a suite of matter lifecycle management tools designed to help in-house legal teams safely and effectively use generative AI-powered technology.
The new partnership will allow organizations to integrate Tonkean’s LegalWorks with Clearlaw’s AI solution that extracts data from contracts and legal documents. In turn, customers of the two companies will be able to automate contract processes based on the extracted data.
“Being able to fully know what's in your contracts, and putting business logic and automation around specific clauses/terms and all the related metadata around your contracts is going to be a game changer for our mutual clients,” said Rory O’Brien, Tonkean’s VP of customer experience, in a prepared statement.
O’Brien and Clearlaw CEO Jordan Ritenour said both in-house legal and procurement teams will be the beneficiaries of the collaboration.
“What we find so exciting about this partnership is the flexibility Tonkean provides organizations, allowing enterprise organizations to leverage the deep data we extract from contracts and legal documents to empower business processes through the organization,” Ritenour said.
Earlier this year, Tonkean announced the launch of ProcurementWorks, which it said enables procurement teams” to create powerful, personalized process experiences.”
Clearlaw’s partnership with Tonkean comes several months after Clearlaw announced a collaboration with Streamline AI, a process automation platform for in-house legal teams.
The leaders of those two companies said Clearlaw would be integrated into Streamline, providing Streamline’s users with more than 350 unique data points they can use to help with the contract review process.
The integration will also help legal teams further automate workflows and “provide data that empowers operations across business functions,” Ritenour said at the time.
Clearlaw also announced partnerships with SimpliContract and PoseidonCM earlier this year.
Clearlaw said the partnership with SimpliContract, a contract lifecycle management provider, will allow Clearlaw to expand its ability to support clients with sophisticated CLM needs.
Clearlaw’s partnership with PoseidonCM, a cloud-based contract management application, should help users “accelerate legal operations and extract data from contracts and invoices,” according to a press release.
Additionally, Clearlaw recently announced the successful completion of its seed funding round.
The company said the funding would help it enhance its proprietary technology, broaden its reach in providing users with insights and expand its technology partnerships.
“We believe that the legal technology market is at an inflection point where data becomes the key driver of corporate legal operations,” Ritenour said in the press release. “With these funds and the depth of data Clearlaw provides, we are well-positioned to accelerate our mission and deliver even greater value to our clients."