Legora

Legora is building an "agent operating system" for legal work, using OpenAI's models, ChatGPT and Codex to accelerate legal workflows and expand contract analysis capabilities.

Legora compares itself to an F1 race car, while the new models OpenAI keeps releasing are the continuously upgraded engine, and the product must keep pace with model iteration.

Over the past 12 months, Legora expanded from 3 offices to 18, completed three rounds of financing and five acquisitions.

Legora's core idea is not to build a simple legal Q&A bot, but to embed AI agents into every link of the legal workflow, accelerating typical tasks such as contract analysis.

In legal scenarios, Codex-type models can be used to transform unstructured contract text into searchable, comparable structured data, supporting batch comparison of different versions of contracts and automatic flagging of clauses that deviate from standard templates.

Legora positions itself as an "agent operating system" for legal work, that is, a layer of platformized infrastructure that uniformly connects document libraries, retrieval tools, review processes and model capabilities.

Legora is a legal AI platform that embeds the GPT series models into multiple parts of lawyers' daily work, for tasks such as contract review.

Legora provides an end-to-end AI due diligence workflow: after a lawyer launches a task, the agent automatically carries out contract review and other types of work, and the results are handed to humans for review.

Legora's founder gave this scenario: 10,000 contracts, 10 queries per week, covering all contracts, can be completed in about a few minutes.

Legora enables lawyers to run near-instant AI screening on the remaining 90% of contracts, thereby greatly expanding risk coverage.

The open access of GPT-3.5 was the direct reason Legora's founder dropped out of school and founded the company.

Legora's founder said that without OpenAI, this company would not exist at all.

Junestrand argues that AI-native companies should maintain low ego and adopt a 'building sandcastles' strategy, always ready to tear down and rebuild in order to use the best capabilities.

At a Fortune 100 client, Legora cut contract turnaround time by 90%, saved more than $20 million in external legal and litigation due diligence costs, and saved each lawyer 9.5 hours per week.

Junestrand stresses that in the legal field clients cannot have any second-guessing or compromise about the tool, so legal AI products must ensure reliable output and traceable processes.

Junestrand calls GPT-3.5 'the internet moment of our generation' and says that without OpenAI, Legora might not exist at all.

Legora's initial idea was born during the period when Google's BERT model was openly accessible, but the early use cases were too difficult and it only worked once GPT-3.5 appeared.

Legora CEO Max Junestrand believes that demand in the legal industry significantly exceeds supply, so that not every contract can be reviewed and not every injustice can be litigated.

After automation, the proportion of hours the Legora legal team spent on NDA review dropped from 20% to less than 1%.

Before building playbooks and automation workflows, the Legora legal team spent about 20% of full-time employee hours on NDA review.