US-based legal contract analysis software provider LinkSquares has received $14.5m in a series A round featuring MassMutual Ventures, the strategic investment arm of insurance firm Massachusetts Mutual Life Insurance.
The round was led by venture capital firm Jump Capital and included fellow VC firms First Ascent Ventures and Hyperplane Venture Capital. It increased the company’s total funding to $21.4m, it said.
Founded in 2014, LinkSquares has developed a cloud-hosted software platform that utilises natural language processing to analyse legal contracts, automatically extracting details like clauses and date-of-effect.
The funding will help the company expand the product’s range of services while hiring engineering, sales and product staff.
MassMutual Ventures and Hyperplane co-led a $4.8m round for LinkSquares in March 2019 that also featured an unnamed law firm, following $850,000 from unnamed investors in 2017 according to a regulatory filing.