Although the UK’s justice system remains stubbornly resistant to the introduction of modern technology, the legal-information provider vLex is accelerating the drive for change by bringing artificial intelligence (AI) into the sector, enabling users – ranging from law students to major enterprise clients – to access information with far greater ease and speed than in the past.
The company has secured £4.2m in funding from BOOST&Co, using part of the money to acquire London-based Justis Publishing, which has the largest database of structured common law cases in the world. Justis has clients in more than 40 countries, and the acquisition increases by more than 20 the number of countries in which vLex has a presence.
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Together, the businesses boast one of the world’s biggest legal databases, comprising more than 125 million documents that are available to more than 6,000 clients in 70 countries. Access is enhanced by a powerful search function and by innovations such as Vincent, the world’s first AI-powered intelligent legal research assistant.
Although vLex is smaller than competitors such as Thomson Reuters and Bloomberg, it is also more agile, offering competitive pricing and flexible packages that are tailored to its clients, such as educational institutions. In addition to cross-selling between the two businesses’ respective clients, the company is likely to gain opportunities to make more acquisitions and further consolidate the market.
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