MDR Lab Alumni company DraftWise raises $5 million funding

MDR Lab Alumni company DraftWise raises $5 million funding

US-based legaltech start-up and MDR Lab Alumni company DraftWise has raised $5 million in a seed funding round led by venture capitalist firm Earlybird.

DraftWise, which was founded in 2020 by former Palantir and Google engineers James Ding, Emre Ozen, and former Clifford Chance senior associate Ozan Yalt, is a Gen AI contract drafting, knowledge and collaboration platform that operates within Microsoft Word and integrates a firm’s DMS and internal knowledge resources. It helps transactional attorneys use their firm’s best language to draft, review, and negotiate complex agreements, and its collaboration features enable fee earners to find and use high-quality precedents and clauses.

Draftwise took part in the MDR Lab Improve programme, before signing a commercial agreement with Mishcon de Reya in 2021, with the Firm also investing in the company as part of its previous seed funding round.

DraftWise CEO and co-founder James Ding commented that Draftwise “…will leverage its new funding to expand its staff and market presence. “We’re hiring strategically across engineering, product, and sales, iterating on our product roadmap, and investing in our broader GTM function.”

MDR Lab was launched in 2017 to enable Mishcon de Reya to work uniquely and exclusively with early-stage technology start-ups in the legal space, including those at concept-stage, to help them prioritise efforts on their path to product-market fit.

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