SG-based lawtech startup INTELLLEX raises $2.1M
As professional services firms adapt to the new normal, their knowledge management platforms will also need to evolve. Continuing its mission of modernizing knowledge-based industries, Singapore-based lawtech startup INTELLLEX has announced today that it has completed a US$2.1M funding round.
Quest Ventures led this round of funding. Participating were Thomson Reuters, Insignia Ventures, K3 Ventures and a Singapore government-backed venture capital fund. In conjunction with the funding, Jeffrey Seah, Partner at Quest Ventures, will join the INTELLLEX board of directors.
Enhancing knowledge management
“INTELLLEX believes underutilized knowledge is dead weight. With the INTELLLEX platform, we convert such dead weight into knowledge assets that yield multiple and repeated value for our clients. With this round of funding, we will expand our service delivery across EU and APAC and accelerate development of new product offerings,” INTELLLEX Co-founder and Co-CEO Chang Zi Qian said in a press statement.
In the post-pandemic world, remote work and virtual collaboration will become more mainstream. INTELLLEX is an AI-driven knowledge management platform for professionals to maximize their collective knowledge intelligently. This lawtech startup is a pre-approved legal technology software vendor under the Singapore Government’s “Tech-celerate For Law Programme“.
The company’s clients include international and local law firms, government and regulatory institutions, corporate legal teams, and legal content providers. INTELLLEX addresses the pain points professional services firms usually face when it comes to knowledge management. These include:
- Ineffective retrieval of knowledge
- Manual organization of information is laborious and costly
- Inability to retain institutional knowledge
“INTELLLEX sets ourselves apart by marrying in-house developed AI technology with our domain understanding about professional services. We convert our clients’ disparate knowledge assets into ready-to use-materials that can be easily accessed when needed. This is achieved via our patent-pending technology that automates document categorisation and accelerates search with unprecedented accuracy,” said INTELLLEX Co-founder and Co-CEO Ellery Sutanto.
Benefits of tapping AI
By using the company’s proprietary AI algorithms, the INTELLLEX platform automatically categorizes knowledge into dimensions which are intuitive to lawyers.
“Our next product upgrade will explore applications beyond the legal industry to related knowledge-based industries like financial services regulation, corporate finance regulation, and tax,” Sutanto added.
For his part, Seah said that B2B AI platforms will equip the professional services industry with new business capabilities.
“We like that INTELLLEX’s Brains-with-AI-Brawn offering is well-positioned to resolve age-old productivity and delivery problems of multiple B2B industries. They are an excellent team of intrepid domain and technology entrepreneurs and have our full support,” Seah said.