They quit Cohere to go into law. They say their new firm can avoid Weil's fate.
Lerer Hippeau is backing Blackletter, a new law firm started by former executives at Cohere and Blue J.
Blackletter, a new Canadian law firm, has raised $6 million in seed funding to compete against traditional Big Law firms. The founders, Avi Brudner, David Stewart, and Jonathan Rosenbluth, believe their firm can avoid the downfall of Weil Gotshal by leveraging artificial intelligence. Blackletter combines legal expertise with technology, offering businesses flat-fee legal services.
The firm's lawyers use AI-powered software to draft and negotiate contracts, guiding clients through the entire transaction process. Blackletter's investors include Lerer Hippeau, Seven Stars, Maple VC, Garage Ventures, Ripple Ventures, and Cohere's founders. The founders cite Weil Gotshal's collapse as a warning to legacy firms, emphasizing the need for a more resilient and adaptable approach.
Blackletter's model is similar to that of Crosby, which builds software for its own lawyers. The founders aim to create one of the best and biggest law firms by 2030, leveraging AI to gain a technical advantage over competitors. Blackletter is already working with clients such as Fanatics, TwelveLabs, and Ada, who recently merged with Dialpad in a $600 million deal.
Written by urgent.news from Business Insider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
