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PwC Legal Arm Partners With Legaltech Startup

The collaboration is the latest in a line of firms making strategic moves in the area.

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Positive thinking How can technology improve contract screening?

Big Four accountant PwC’s legal arm has entered into a strategic partnership with legaltech startup ThoughtRiver, which provides “pre-screening” technology for legal contracts.

The agreement will see PwC launch pre-screening products for clients in collaboration with ThoughtRiver by the first quarter of 2020.

The startup’s technology will be used by the Big Four firm’s “new law” practice, a division of the firm’s legal arm that advises in-house legal teams on operational efficiencies, with a particular focus on effective use of technology.

According to a statement by ThoughtRiver, the agreement followed a competitive tender process and discussions during a period of 18 months.

The partnership is the latest between legaltech startups and U.K. firms. Earlier this year, HFW announced it had entered into a “development partnership” with a litigation analytics startup, Solomonic, which uses court data with the aim of improving predictions, case research and outcomes.

Meanwhile Simmons & Simmons acquired Cambridge-based legal engineering firm Wavelength, which uses data science to create solutions that will help the firm work through large-scale projects, such as the replacement for the Libor benchmark and a GDPR exercise, more efficiently. In addition, Clyde & Co brought in machine-learning firm Neural Vision Technologies (NVT) to assist with automating the search and retrieval of records and documents through its search platform, NVT VISTA.

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Simon Lock

Simon Lock

Simon joined Legal Week in June 2019 after finishing his degree at City, University of London. His areas of focus are legal tech, insurance, and intellectual property. [email protected]

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