White & Case has invested in Saudi Arabian AI contract review platform start-up Clauze.AI, founded by a former partner of the firm.
The financing marks the first time the US firm has invested in an AI legaltech business in the Middle East. The funding will help Clauze.AI grow its service offering for law firms and businesses in Saudi Arabia and neighbouring countries in the region.
Clauze.AI is a regional-focused AI contract review assistant for corporate legal teams that helps highlight contract clauses and risks, and helps keep track of legal obligations.
Heather McDevitt, chair of White & Case, said: “AI is reshaping the delivery of legal services and being at the forefront of this change is important to us in the Kingdom of Saudi Arabia, where we have a long history and deep commitment.
“Our investment in Clauze.AI builds on that commitment, and reflects the opportunities created by the kingdom’s continued focus on digital transformation and innovation under Saudi Vision 2030.”
Waad Alkurini, founder of Clauze.AI said that legal teams in the region have been “underserved by AI tools” that have been created for different legal systems and languages.
She added: “Clauze.AI is built specifically for the way legal work is done here in Arabic and English, inside complex regulatory frameworks, with data that cannot leave the kingdom.
“The investment from White & Case reflects not just confidence in the platform, but a shared conviction that the future of legal services in this region will be built on AI that truly understands it.”
The Riyadh-based company was founded this month by Alkurini, who previously spent just over a decade with White & Case, including three years a partner where she led the firm’s Riyadh office.
Other start-ups that have received investment recently include Chilean legal AI platform start-up Magnar, which secured $8m in a Series A funding round from investors that included Argentinean law firm Beccar Varela.
The round was co-led by early-stage investor 6 Degrees Capital alongside Mexican start-up investor Hi Ventures.
Earlier this month, Norwegian AI legaltech platform start-up Newcode secured $13.5m in new financing following a Series A funding round, taking the amount of capital it has raised this year to $20m. The round was led by venture capital firm OnDean Forward.
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