Legal tech company Elevate Services acquires data analysis company LexPredict
Legal consulting and technology company Elevate Services has bought data analysis and consulting company LexPredict.
The companies announced the acquisition in a joint statement on Wednesday. Terms were not disclosed.
According to Pratik Patel, vice president of innovation at Elevate, the two companies had been working together for over a year to help Cisco use artificial intelligence to make its M&A due diligence and contract analysis faster and more accurate. In the joint statement, the companies announced they would build on their progress together to develop AI-enabled processes and tools designed to help companies and lawyers navigate everything from GDPR to Brexit while allowing attorneys to better predict expenses and litigation results.
Founded in 2013, LexPredict is a technology and consulting company that has developed software aimed at bill review, case assessment and contract analysis.
“The most comprehensive solutions often require the integration of multiple disciplines,” said Dan Katz, co-founder and chief strategy officer of LexPredict, in the same statement. “Joining forces with Elevate is the most effective way to bring those solutions to market more quickly, by combining the engineering and data science of LexPredict with the award-winning legal services of Elevate.”
This isn’t the first major move by Elevate Services this year. In April, the company announced ElevateNext, a law firm that works alongside the company. This was a joint project with Valorem Law Group founders Nicole Auerbach and Patrick Lamb. Valorem made its name offering alternative fee arrangements to corporate clients.
Going further back, in 2016, Elevate bought Legal OnRamp, a technology company, in a move that greatly expanded Elevate’s engineering staff, according to a press release at the time.