"Nick Fleisher learned that the hard way at McKinsey, where he helped elite law firms roll out tech tools, often with little enthusiasm from the lawyers expected to use them. "It was like pulling teeth," Fleisher said. That work led Fleisher to leave McKinsey and start a company in August. His startup, Sandstone, is aimed squarely at in-house legal teams instead of law firms, and Sequoia Capital is backing the idea."
"The Brooklyn-based startup has raised $10 million in a seed funding round led by Sequoia Capital, Business Insider has learned. Backers include Kearny Jackson, SV Angel, the Chainsmokers' Mantis VC, Daybreak Ventures, and a group of corporate general counsels from companies including eBay and Bilt. Sandstone uses AI to help lawyers inside companies draft and review contracts based on how they've handled similar agreements in the past."
Sandstone raised $10 million in seed funding led by Sequoia Capital to bring AI to in-house legal teams. The company aims to build a system of record that helps legal teams conduct and track legal work while using past agreements to draft and review contracts. Nick Fleisher, formerly a McKinsey consultant who advised major law firms and worked with QuantumBlack, founded Sandstone after witnessing resistance to legal tech adoption. Investors include VC firms and corporate general counsels. Many in-house teams still struggle with basic contract lifecycle management and tracking outside legal spend.
Read at Business Insider
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