May 26, 2022

So Technologies, a Kigali-London-based start-up that uses data and artificial intelligence to match companies with third-party legal service providers, has raised $1.8 million in seed funding from a range of institutions and angels. exact match of the engine. So the total amount raised by the startup is $2.6 million so far.

Founded in 2020, the startup uses data from various sources to match client firms’ own legal teams with external legal service providers, helping to recommend lawyers based on the nature, location and cost of a contract.

“Navigating the external options and figuring out who might be right — given the needs of the company, price points and all — is very, very difficult. And most decisions are sort of a market decision of what the business really wants to be. But what if you don’t need people to buy? What if you’re trying to help people understand what works for them? We specifically delved into this area and created a product that helps people find the right lawyer; It’s really the starting point for meeting their needs,” said gaming-updates co-founder and CEO Steve Hetkamp.

The startup was approved after a successful pilot project with American investment firm Reventage and a London-based insurance company. In its next phase of growth, it is also targeting larger companies with larger legal budgets.

“We work with large companies because they are essentially a stand-alone marketplace, they have already worked with many lawyers and law firms,” said Hetkamp, ​​co-founder of the startup along with Sean West and Arun Shanmuganathan.

To ensure accurate matching, Hetkamp said they need to integrate data (including qualitative data) from multiple locations, including customer billing systems, to create a recommender system that helps businesses make decisions.

“Very limited information and data is used to decide who to hire. And we realized that companies are missing opportunities to use data even from their own experience. When a company spends $200 million a year, there’s an opportunity to understand a lot of different things, like what works well and what doesn’t,” says Hetkamp.

Investors participating in the round include Daybreak Partners, Broad Creek Capital, a global private equity partnership formed by two former attorneys Matthew Rusch and Michael W.

“We plan to use these funds to develop our team, especially technical specialists, as well as spend additional funds on marketing. We have already hired someone who has experience in marketing and law firms,” Heathkamp said.

That’s why it’s part of the first Palantir Foundry for Builders group, allowing them to “work with sensitive data in an accredited environment.”

Nate Dalton, founder of Daybreak Partners, said: “…with this, there is finally a tool to help clients move from mass, mostly anecdotal, decision making to empirical, evidence-based, with continuous improvement after each admission. Conversation. The last two years have marked the beginning of an incredible change in the way we operate and it’s great to see the team leverage the talent on the Kigali and Palantir platform to dramatically improve their performance. Vision.”

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