Ireland-based Brightflag, whose platform uses artificial intelligence to help corporate legal departments better manage their legal spend and affairs, is expanding its existing reporting functionality with a range of new reports designed to give companies a more nuanced perspective on how to assess their relationships external lawyers.
The news follows the company’s December announcement that it raised $ 28 million for a growth stake that followed a Series A round worth $ 8.5 million in April 2019. The company was founded in 2015.
With the new reports, the responsible experts for each matter managed on Brightflag can evaluate the associated law firm based on five qualitative criteria:
Communication. Quality of advice. Business alignment budget compliance. General recommendation.
These ratings are included in dashboard reports, which legal managers can use to compare providers across one or more
Metrics of how they weigh critical resource decisions.
“By enabling customers to capture qualitative nuances in objective reports, we are making it easier than ever to conduct holistic performance assessments and identify top business partners,” said Ian Nolan, co-founder and CEO of Brightflag, in a statement.
Brightflag’s product competes with Legal Operations products such as Thomson Reuters Legal Tracker, LexisNexis CounselLink and SimpleLegal.
The platform offers electronic invoicing, invoice management, invoice review and accrual management. The AI technology reads invoices submitted by an outside lawyer and identifies violations of billing guidelines. The software tracks provisions and work in progress and offers a variety of reports. It also tracks historical settlement and uses analytics to help negotiate fees.
The company was founded in Dublin under the original name Legalshine by Nolan, who was formerly Business Development Manager at another case management firm, and Alex Kelly, now COO and formerly Associate Attorney at Matheson in Dublin.