Global News
Seal Software and leading German legal solutions provider, TPR Legal, announced today that TPR has selected Seal Software’s AI-driven contract analytics and extraction software as the basis for its contract analysis business.
TPR and Seal also announced a unique relationship whereby TPR will develop and license customized German-language solutions on the Seal platform.
TPR selected Seal after an in-depth evaluation of the contract analytics market in Germany, as well as hands-on experience with the technology itself, which revealed the power and speed of the Seal platform. Seal Software is recognized as the number-one provider of contract discovery, extraction, and analytics software in the world.
TPR Legal is a hybrid of a corporate-style firm and an IT consulting company, providing solutions in the legal market. The firm offers outsourced legal services to in-house legal departments and law firms, supporting both development and implementation of legal operations.
TPR will use the Seal platform to provide contract analytics for its clients, assisting in a variety of transactions ranging from strategic sourcing to complex mergers and acquisitions. In addition, TPR will build and license extraction models for the German language. TPR’s first solution built on the Seal platform will be a set of extractions designed for the analysis of German non-disclosure agreements (NDAs). TPR’s German NDA Accelerator will complement Seal’s existing English-language NDA Accelerator. The German-language accelerator from TPR is expected to be available in the Seal Marketplace in Q3 2019.
“We have been evaluating the contract analytics market in Germany intensely over the last three years and watched the increasing pace of innovation with interest,” said Felix Rackwitz, managing director, TPR Legal. “At the end of last year, we carried out a Legal AI Hackathon with the Seal team and really got under the hood to see what is possible with AI, in a hands-on, practical way. The power of the technology is impressive and is a game-changer for how contracts will be analyzed going forward.”
“I am delighted to welcome TPR to the Seal family as both a customer and as a partner,” said Ulf Zetterberg, co-founder and CEO of Seal Software. “We have enjoyed considerable success in Germany to date, and we are confident that TPR’s unique blend of legal knowledge, technical expertise and operational experience will help us accelerate that growth in Europe’s largest economy.”
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