Funding Secured: $50 Million Series E for Artificial Intelligence in Contract Law
In a significant move to transform the legal industry, LegalOn Technologies, a leading AI-powered legal technology company, has announced a strategic partnership with OpenAI and secured a $50 million Series E funding round led by Goldman Sachs Growth Equity. This brings the total funding for LegalOn to $200 million.
The funding will be used to scale the development of agentic AI products and expand operations, particularly in the U.S. and U.K. markets, where business has recently quadrupled. The company aims to enhance its AI-driven contract review and matter management platform, which accelerates legal workflows and reduces contract review time by up to 85%.
The strategic plan also includes strengthening go-to-market efforts and positioning LegalOn as a leading player in the legal AI technology space globally. This expansion is supported by additional investors from Japanese financial institutions and law firms, reflecting confidence in LegalOn’s growth.
Regarding the collaboration with OpenAI, LegalOn has announced a strategic partnership that grants it access to OpenAI’s cutting-edge AI models, such as ChatGPT Enterprise and OpenAI APIs. The partnership involves close cooperation between engineers from both companies to develop advanced legal AI agents aimed at redefining corporate legal workflows by combining OpenAI’s technology with LegalOn’s proprietary legal expertise and data. This alliance is expected to accelerate product innovation, enabling LegalOn to build faster and smarter AI-powered legal solutions.
Nozomu "Nozo" Tsunoda, co-founder and Group CEO of LegalOn, and Daniel Lewis, Global CEO of LegalOn, are at the forefront of this transformation, driving the company's mission to transform legal work with trustworthy AI. LegalOn continues to lead the market in Japan, supporting 25% of public companies and 87% of Fortune 500 firms. Under their leadership, LegalOn serves over 7,000 customers, a 40% year-over-year increase.
Stephanie Hui, Global Co-Head of Growth Equity at Goldman Sachs Alternatives, believes LegalOn is uniquely positioned to define the future of AI-powered legal technology. This collaboration with OpenAI puts LegalOn at the forefront of innovation, accelerating its mission to transform legal work with AI.
| Aspect | Details | |------------------------------|----------------------------------------------------------------------------------------------------| | Funding | $50 million Series E led by Goldman Sachs Growth Equity; total funding now $200 million | | Strategic Plan | - Scale agentic AI product development | | | - Expand U.S. and U.K. operations (recent business quadrupling) | | | - Strengthen go-to-market strategy | | | - Enhance matter management and contract review AI tools | | Collaboration with OpenAI| - Access to latest OpenAI models including ChatGPT Enterprise and APIs | | | - Joint development of advanced legal AI agents | | | - Combine OpenAI’s AI with LegalOn’s legal domain expertise and data |
With this funding and collaboration, LegalOn is poised to reinvent contract workflows by integrating advanced AI deeply with legal expertise, enabling legal departments to operate faster and more strategically.
- The $50 million Series E funding led by Goldman Sachs Growth Equity, along with the additional investments from Japanese financial institutions and law firms, will be used for investing in technology, particularly focusing on scaling the development of agentic AI products.
- The partnership with OpenAI, which provides LegalOn access to cutting-edge AI models like ChatGPT Enterprise and APIs, is part of the strategic plan to grow equity in the legal AI technology sector, enabling LegalOn to develop advanced legal AI agents that aim to redefine corporate legal workflows.
