.webp)
Legal automation vendor Josef has secured additional funding from current investors such as OIF Ventures, Carthona Capital, and The LegalTech Fund to develop its AI capabilities further.
The newly acquired funds are intended to support Josef's efforts to enhance its AI-driven offering, Josef Q, which helps legal and compliance teams develop precise self-service Q&A tools. Since introducing its products to the North American market in 2022, Josef has expanded its client base to include prominent corporate legal teams, leading law firms, and prestigious law schools.
CEO Tom Dreyfus commented, "When you're on to a good thing in this market, you have to move fast. The response to Josef Q has been overwhelming, particularly from legal and compliance teams in Fortune 500 companies." He added, "This funding top-up will allow us to capitalize on those opportunities and to continue to lead the market in reliable and accurate legal AI."
Zach Posner, Co-founder and Managing Director of The LegalTech Fund, noted the swift adoption of Josef Q among corporate clients. "Josef Q has rapidly gained traction among corporate customers," Posner said. He praised the company's ability to integrate generative AI into their no-code platform, highlighting, "It's a simple, low-stakes way for the company to be using generative AI to solve big pain points. When you can ask exactly what you need to know and get the right answer quickly, it makes sense, and people start using it."
Long-established in the market for its document and workflow automation tools, Josef is now leveraging its expertise with this fresh investment. Jerry Stesel, Partner at OIF Ventures, remarked, "The founders' ability to identify the right ways to deploy GenAI for legal and compliance teams continues to set them apart." He added, "Josef Q offers controllable, trustworthy and hyper-accurate legal AI built to scale. As an investor, it has been immensely exciting to see enterprises delivering value with Josef's AI today. We're proud to back Josef again, and can't wait to see what the team achieves next."
The funding will also aid Josef in developing its AI controls and guardrails, which include human-in-the-loop moderation and pathways designed specifically for legal and compliance issues. Moreover, the company plans to enhance its integration capabilities with systems such as Microsoft Suite, Google Workspace, Salesforce, and Slack.
Claire Nuske, Head of Legal Operations at Bupa, stated, "Josef Q offers the guardrails we need to build tools that can handle high-value, confidential information, giving us the confidence we need to deliver self-service experiences at scale." Bupa, among other clients, utilizes Josef Q for various internal functions, further illustrating the product's application in managing complex and confidential data efficiently.
Josef's Co-founder and COO, Sam Flynn, indicated that as teams encounter challenges in applying AI within high-risk scenarios, they turn to Josef's solutions. "As legal and compliance teams have realized that deploying AI in high-risk contexts is actually harder than it looks, they're turning to us to show them how you can deploy this powerful technology safely and effectively," Flynn explained. "The best part is that once you figure out how to build reliable AI, you unlock so much more value."
Tom Dreyfus added, "As always at Josef, we're not satisfied with the status quo. That's why, alongside delivering for our customers, we're pushing the boundaries of legal AI with the world's best research institutions like NYU and Cornell to build GenAI tools that legal and compliance teams can trust."
