Henchman, a Ghent, Belgium-based legal tech company, announced that it closed a $7 million Series A funding, bringing its total raised to $10 million, to become the industry-leading contract drafting and negotiation solution.
The round was led by Adjacent VC and Acton Capital, with participation from several business angels, including Louis Jonckheere & Pieterjan Bouten (founders Showpad), Felix Van de Maele (founder Collibra), and Bram Couvreur (Partner at U.S.-based law firm Cooley).
The funds will be used to further innovate and expand geographically. The company also intends to use capital injection to stay ahead of the competition and enter new markets.
Henchman helps the lawyer of the future provide added value and expertise. "When everyone was still talking about ChatGPT, we implemented the technology in Henchman," says Gilles Mattelin, founder of Henchman. With the AI-based functionality, lawyers can now use Henchman to enrich contracts with new suggestions, translations, or grammatical adaptations.
Company: Henchman B.V.
Raised: $7.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Adjacent VC and Acton Capital
Additional Investors: Louis Jonckheere, Pieterjan Bouten, Felix Van de Maele, and Bram Couvreur
Company Website: https://www.henchman.io/
Software Category: Contract Drafting Software
About the Company: Founded by Jorn Vanysacker, Gilles Mattelin, and Wouter Van Respaille, Henchman is a legaltech company that enables legal professionals to draft and negotiate complex contracts faster by automatically extracting previously written clauses from their existing contract database, when and where they need it. Henchman’s technology is language and system agnostic, meaning it connects to any document management system and processes all (can be millions of) clauses and definitions within hours. The company's goal is to assist lawyers to excel in high-value tasks, allowing them to enjoy their newly acquired freedom as they see fit. Henchman employs 35 employees and has 100 customers in 15 different countries.
Source: https://www.prnewswire.com/news-releases/henchman-raises-7-million-series-a-to-support-tomorrows-lawyer-with-ai-301759982.html