The deal boosts Legora’s tech offering by integrating Graceview’s regulatory horizon scanning platform
AI company Legora has acquired Melbourne startup Graceview with help from a White & Case team.
The firm brought together a multi-jurisdictional team headed up by Sydney partner Jamie Palmer and London partners Daniel Turgel and Angus Nunn. According to Palmer, the deal “brings together two highly complementary platforms and reflects the growing importance of real-time regulatory intelligence”.
Graceview’s AI-driven regulatory monitoring and horizon-scanning capabilities will be incorporated into the Legora platform, facilitating access to legal and regulatory developments across jurisdictions in real time.
“The tools to track regulatory changes in a structured, reliable way simply haven't existed at the scale and coverage the global legal market demands. Graceview has spent three years building the infrastructure to solve that. Bringing them into Legora means our customers can move from spotting a regulatory change to acting on it without ever leaving their workflow”, said Legora co-founder Max Junestrand.
Turgel, who co-leads White & Case’s global technology industry group, added that the acquisition would “strengthen Legora's technology offering and enhance the AI tools available to legal and compliance teams navigating complex regulatory change”.
Working with Palmer, Turgel and Nunn on the deal are Sydney-based partner Nicholas Boyle and associates Javed Ali and Edward Lee.
Legora APJ VP Heather Paterson indicated that the AI company intended to double its headcount in Australia within a three-month span. She confirmed to Australasian Lawyer that Graceview’s teams would stay on after the acquisition.
“Graceview's leadership team and core engineering team have been retained. They've moved into our Stockholm headquarters and have integrated Graceview's capabilities into the platform alongside our broader product and engineering teams”, Paterson told Australasian Lawyer. “We're looking forward to helping our customers across Australia and the wider Asia-Pacific region close a long-standing gap in tracking regulatory change across multiple jurisdictions”.
Graceview was launched three years ago. The platform tracks thousands of official regulatory sources in over 100 jurisdictions.
“From day one, our ambition at Graceview has been to give legal and risk teams real-time visibility over the regulatory change that matters to their business, and the means to act on it. When I sat down with Max for the first time, it was clear we'd been working on different parts of the same problem. Legora has built the collaborative operating system for legal work. We've built the infrastructure that lets teams stay ahead of regulatory change. Joining Legora accelerates our mission and dramatically expands our reach”, Graceview co-founder and COO Jules Ioannidis said.
