Artificial intelligence company Ravn acquired by iManage
Leading professional services technology company iManage has acquired artificial intelligence company Ravn Systems.
The combined duo will revolutionise the way companies find, extract and act on key information from documents and emails, iManage claims. Founded in 2010, RAVN has developed an AI platform that can organise, discover and summarise relevant information from large volumes of documents and unstructured data. Usage includes analysing legal documents such as contracts and leases, identifying information which is privileged or subject to compliance and automating document classification for easier search and governance.
Ravn has been used by the legal profession for a variety of tasks - BT used it to analyse global supplier agreeements whilst the Serious Fraud Office recently used RAVN to help a team of investigators sift through 30 million documents. RAVN processed 600,000 documents per day – – allowing investigators to save many months of work. 'There are certain technologies that can fundamentally impact the trajectory of industries, such as industrial robots in manufacturing or self-driving cars in transportation,' said Neil Araujo, CEO, iManage. 'We are constantly looking for opportunities to drive significant productivity gains for our customers and have looked closely at AI technology. RAVN has bridged the gap between the potential of AI and its application to real-world business problems. Together we will accelerate the adoption of practical AI solutions across the legal and corporate markets.'