Prestigious Annual Awards Program Recognizes Ontra for Accelerating Private Market Legal and Compliance Workflows
SAN FRANCISCO, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Ontra, the leading provider of AI-powered legal technology solutions for private capital investment firms, today announced it has been named "LegalTech AI Company of the Year” in the 5th annual LegalTech Breakthrough Awards program. Ontra was recognized for streamlining and optimizing often time-consuming tasks that bog down legal and compliance professionals working in the private markets. Some of the winners from other categories include Docusign, LexisNexis, and Thomson Reuters.
Ontra's products harness the power of AI to automate contract negotiation workflows, streamline obligation management, digitize entity management, and surface insights for leading private markets firms. With this technology, firms can free themselves from manual, repetitive tasks and focus on high-value work.
Ontra's AI engine, Synapse, powers its purpose-built solutions within its private markets technology platform:
- Contract Automation uses AI to streamline routine contract negotiation, including the generation of contract summaries, automated markup suggestions, and comprehensive data extraction and analysis.
- Insight leverages AI to categorize clauses from fund documents like LPAs and side letters to create a digital source of truth for fund operations. Insight also automates the MFN election process and offers AI Search, a conversational search capability that allows users to ask questions about their agreements and get actionable answers in seconds.
- Atlas uses AI to automate entity management workflows, including data extraction and labeling to help organize and maintain a single source of truth for entity information and facilitate compliance with the Corporate Transparency Act. Atlas also leverages the data to dynamically generate up-to-date, customizable structure charts.
The annual awards program is conducted by LegalTech Breakthrough, a leading independent market intelligence organization that evaluates and recognizes standout legal technology companies, products, and services around the globe. This year's program attracted thousands of nominations from over 12 countries throughout the world.
"The private markets are burdened by growing legal complexity including the high volume of repetitive, mundane work, outdated legacy solutions, and under-developed AI tools that still require a lot of manual work,” said Bryan Vaughn, Managing Director, LegalTech Breakthrough. "Ontra's AI-powered private markets technology platform makes them our choice for 'LegalTech AI Company of the Year!' Ontra stands out by streamlining and optimizing legal and compliance workflows across the full fund lifecycle and empowering leading fund managers to see more, know more, and do more with their contract data.”
About Ontra
Ontra is the global leader in AI legal tech for private markets. Powered by industry-leading AI, data from 1M+ contracts, and a global network of legal professionals, Ontra's private markets technology platform streamlines and optimizes critical legal and compliance workflows across the full fund lifecycle. Ontra's purpose-built solutions automate contracts, streamline obligation management, digitize entity management, and surface insights. Trusted by more than 800 global GPs, investment banks, law firms, and advisors - including nine of the top ten PEI-ranked firms worldwide - Ontra helps firms focus on what's important to them.
Learn more at www.ontra.ai.
About LegalTech Breakthrough
Part of Tech Breakthrough, a leading market intelligence and recognition platform for global technology innovation and leadership, the LegalTech Breakthrough Awards program is devoted to honoring excellence in legal technologies, services, companies, and products. The LegalTech Breakthrough Awards program provides a forum for public recognition around the achievements of LegalTech companies and solutions in categories including Case Management, Client Relations, Data and Analytics, Documentation, Legal Education, Practice Management, eDiscovery, and more. For more information visit LegalTechBreakthrough.com
Tech Breakthrough LLC does not endorse any vendor, product, or service depicted in our recognition programs, and does not advise technology users to select only those vendors with award designations. Tech Breakthrough LLC recognition consists of the opinions of the Tech Breakthrough LLC organization and should not be construed as statements of fact. Tech Breakthrough LLC disclaims all warranties, expressed or implied, with respect to this recognition program, including any warranties of merchantability or fitness for a particular purpose.
Media Contact:
Bryan Vaughn
LegalTech Breakthrough Awards
949.529.4120
