The Modern Lawyer Podcast: Key Takeaways from the $200M Phone Call

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Earlier this year, AI-powered eDiscovery platform Reveal Data merged with data analytics and visualization company Brainspace. Along with a $200 million investment from K1 Ventures, the merger solidified Reveal’s position as a major player in the legal technology space, opening new avenues for innovation and new opportunities to revolutionize the discovery and investigation processes.

In the latest episode of Casetext’s legal podcast The Modern Lawyer, host Anand Upadhye sat down with Wendell Jisa, the CEO of Reveal Data. Wendell described his entrepreneurial journey, what it was like to receive a $200 million investment, and his vision for the future of legal technology in an unfiltered conversation that yielded intriguing insights about what it’s like to be a major player in legal technology. Here are the highlights–

The legal industry was still sort of stuck in this spot where the traditional attorney felt as though technology – artificial intelligence – was going to inhibit or shorten their careers rather than help them be more productive.

Thinking like a lawyer, Wendell tailors Reveal Data’s software to accelerate attorney workflows

Wendell emphasized how in 2015, law as an industry was apprehensive to automation and technology. But just as with justice, the wheels of the legal industry churn slowly. Once attorneys realized that AI can help them spend more time litigating, brokering deals, and acquiring clients, Wendell’s forward-thinking mindset became apparent both to the industry and investors. 

I don’t want to splinter off. I think that focusing on solving these problems of our customers in eDiscovery and helping them make decisions and having the opportunity to literally change the way the practice of law is presented is crazy to me.

Wendell found his niche in eDiscovery, and he’s committed to being a leader in the space. His vision is to make the discovery and investigation process as seamless as possible – and by merging Reveal Data’s artificial intelligence technologies with Brainscape’s powerful visualization and analytics techniques, he’s one step closer to making it a reality. “We have some of the most fascinating minds in data science in our organization, the largest data science team I believe in the industry,” he said. “They’re doing things that are literally going to change the practice of law, and that’s why I’m so invested in not just legal tech but eDiscovery specifically.”

I think it’s just the beginning.

Wendell’s technology is evolving the law – and the innovation is just getting started.

As the pandemic accelerates the adoption of technology across industries, there’s a real shift in the legal space’s comfort level with moving away from tradition. Private equity and venture capital firms are taking notice, too. “I think that the adoption of technology, the whitespace opportunity, and the ability to bring automation to the legal industry is why the money’s coming in,” he said. “I think you’re going to have multi-billion dollar valuations over the next 24 to 36 months for companies that started on someone’s couch, just the way Reveal started with me.”

Reveal’s $200 million funding round and merger with Brainspace shows just how much opportunity the legal industry offers for innovation. Wendell is committed to moving law and technology forward, and he’s just getting started.

For more discussions with industry leaders about the future of law and its intersection with artificial intelligence and technology, tune into The Modern Lawyer Podcast.