USA/Canada News
Heretik, a Chicago based software company that uses machine learning to make the contract review process smarter in Relativity, today announced that it has completed its $2.4 million seed round of financing.
Corazon Capital led the investment round with participation from existing investors Chicago Ventures and Relativity.
This funding will help the company expand its sales, marketing, and customer success teams, support its key international partnerships, and accelerate its product offering through the Relativity platform.
“We’re seeing law firms and service providers differentiate their services and find ways to make contract review more efficient with Heretik in Relativity” said Charlie Connor, CEO and Co-founder of Heretik. “This investment is allowing us to further support our customer’s growth initiatives and continue building quality solutions that exceed our clients’ expectations.”
Heretik marries two worlds that have traditionally remained siloed in separate tools: highly effective machine learning models for text analysis and highly flexible document review capabilities. Heretik expands the scope of Relativity by opening its power to practice areas beyond litigation, enabling attorneys to identify risks, obligations, and opportunities in contracts. With Heretik, attorneys can quickly turn massive and disparate troves of contract data into valuable insights.
“Having closed dozens of M&A deals in over 20 years of investing, I’ve seen a clear need for a contract review solution like Heretik in the marketplace,” said Steve Farsht, Co-founder of Corazon Capital and Heretik board member. “We’re thrilled to be partnering with Heretik and are looking forward to the company’s continued growth.”
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