AI boom fuels fresh wave of legal tech investments [Yahoo! Finance]
News Corporation - Class B (NWS)
US:NASDAQ Investor Relations:
investors.newscorp.com/investor-relations
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Source: Yahoo! Finance
(Reuters) -Investors in recent weeks have injected more than $750 million in new cash into startups that make artificial intelligence products ?for lawyers, betting on a growing marketplace competing for legal industry customers. GC AI,? which makes AI tools for in-house corporate legal teams for tasks like drafting documents, research and analyzing ?contracts, said on Wednesday it has raised $60 million in a funding round led by Scale Venture Partners and Northzone, valuing the San Francisco-based company at $555 million. The two-year-old startup's platform can make in-house lawyers more efficient and reduce spending on outside counsel,? said Cecilia Ziniti, GC ?AI's co-founder and CEO. The company said its customers include News Corp, which also participated as an investor in the funding ?round, and Nextdoor, Skims and Zscaler. Other investors in the new funding round include Sound Ventures, Aglaé Ventures, SilverCircle, The Council and Guillermo Rauch, the CEO of Vercel ( VE
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