LawVu, a New Zealand technology supplier for in-house legal operations, has acquired Belgian peer ClauseBase to expand its AI contract drafting technology.
A LawVu spokesperson declined to reveal how much it paid for ClauseBase, but added that LawVu’s post-deal company value would be $220m.
LawVu CEO Sam Kidd said the deal was part of its strategy to provide “end to end” legal AI.
The deal follows a recent marketing partnership between the two companies, in which ClauseBase’s contract software was made available to LawVu’s legal customers.
LawVu, whose customers include Estée Lauder, Joe & the Juice and Arsenal Football Club, says ClauseBase’s AI-powered contract software helps in-house legal teams create, redline and refine agreements in minutes, not hours.
The ClauseBase software, which will be rebranded as LawVu Draft, includes contract templates and preferred clauses and AI-assisted contract reviewing.
Founded in 2015, LawVu says its platform helps company legal teams run their legal operations, including managing cases, client files, contracts and invoices.
In 2021, LawVu raised $12m in a Series A funding round led by New York-based private equity and venture capital firm Insight Partners to accelerate its uptake by in-house legal teams.
The company has offices in New Zealand, Australia, the US, the UK and Ireland.
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