Home PC News LitLingo Advocates AI-driven Prevention as the Key to Modernizing the $45B Litigation...

LitLingo Advocates AI-driven Prevention as the Key to Modernizing the $45B Litigation and Compliance Industry

Raises $2M Seed Round led by LiveOak Venture Partners

AUSTIN, Texas–(BUSINESS WIRE)–August 10, 2020–

LitLingo Technologies, a startup using AI/NLP to handle context-driven communication and forestall conduct threat, pronounces that it has closed a $2 million seed spherical led by LiveOak Venture Partners. Krishna Srinivasan, Founding Partner at LiveOak, will be a part of the Board of Directors of the corporate. The funds can be used to broaden its product and engineering groups in an effort to speed up progress.

LitLingo was fashioned in 2019 to develop a brand new method to assist authorized and compliance executives and operational leaders stop unforced errors in communications and permit corporations to reinforce worth in worker interactions. To remedy this problem, LitLingo developed a machine-learning platform and proprietary, out-of-the-box fashions centered on coaching and prevention. LitLingo’s method differs from current options in that it affords the power to encode current insurance policies and greatest practices, implement them in real-time, and supply corrective motion to customers previous to the creation of written materials that might end in adversarial penalties. The firm believes that real-time prevention is the important thing to disrupting the $45B threat & compliance {industry}.

“The traditional solutions to mitigating legal, compliance, or cultural risks with employee communications are retroactive and expensive – engaging outside counsel, hiring more lawyers, company-wide quarterly trainings – we’d like to flip that paradigm on its head and help our customers prevent risk before it is created,” stated Kevin Brinig, co-Founder and CEO of LitLingo. “Fewer HR issues, stronger culture, and improved compliance are all byproducts of the LitLingo solution. If a company can prevent a single lawsuit or regulatory action on its own recognizance, it avoids millions of dollars in costs.” He added, “It’s counterintuitive, but our favorite analogy is: the average speed of a racecar goes up when you improve the brakes. We’d like all our customers to achieve that.”

LitLingo has already helped a number of corporations optimize their enterprise communications whereas in stealth mode. The firm leverages integrations throughout a number of e mail, workplace chat, and customer support ticketing platforms.

The LitLingo workforce has deep experience in NLP/AI, threat administration, fraud/waste/abuse, and product improvement from their careers within the sharing financial system, autonomous autos, threat administration consulting, and the healthcare industries. They have mixed all of this experience in an effort to profit the company threat {industry}.

“The inflection point we see within AI and Natural Language Understanding (NLU) offers an incredible opportunity to create solutions that are remarkably powerful and incredibly cost effective. We’re entering a new era with what AI can do in areas previously thought impossible,” stated co-founder and CTO, Todd Sifleet.

As LiveOak’s Srinivasan famous, “We have seen first-hand the importance of better written communication to drive down risks of litigation, improve compliance and operational KPIs and importantly elevate the overall cultural tone in an organization. Enabling that in real time with a delightful user experience is an incredibly hard challenge. Kevin and Todd with their deep product technology capabilities and background are uniquely qualified to tackle this problem. They have tapped into a rich vein of demand that is particularly relevant for these times. As such, we are really enthusiastic about building a successful company in this arena,” stated Srinivasan.

About LitLingo

LitLingo helps organizations decrease dangers related to digital communications. By offering AI-powered monitoring, prevention, and coaching options in real-time throughout the industry-leading communication channels, LitLingo permits clients to focus on recognized dangers, establish blind spots, and maximize the productiveness of their workforce. The firm offers out-of-the-box or custom-tailored fashions referring to litigation and compliance threat mitigation, the promotion of inclusive tradition, and customer support optimization. Founded in 2019, LitLingo is headquartered in Austin, Texas. For extra data, go to www.litlingo.com.

About LiveOak Venture Partners

LiveOak Venture Partners is a enterprise capital fund primarily based in Austin, Texas. With 20 years of profitable enterprise investing in Texas, the founders of LiveOak have helped create almost $2 billion of enterprise worth. While nearly all of LiveOak’s investments start on the Seed and Series A levels, LiveOak is a full life cycle investor centered on serving to create class main know-how and technology-enabled service corporations headquartered in Texas. LiveOak Venture Partners has been the lead investor in over 30 thrilling high-growth Texas-based corporations within the final seven years together with ones equivalent to CS Disco, Digital Pharmacist, OJO Labs, Opcity and TrustRadius.

LitLingo Technologies | Mayra Del Bello | 512-498-4909 | [email protected]

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