CIBC Innovation Banking Provides Blue J Legal with $2 Million Growth Financing
14 April 2020 - 11:00PM
Business Wire
CIBC Innovation Banking is pleased to announce a $2 million
growth capital financing for Toronto-based Blue J Legal (“Blue J”),
a machine learning and AI-powered predictive legal software
platform that specializes in North American tax law and Canadian
employment law. The growth capital will be used to support Blue J’s
continued product diversification and geographic expansion
efforts.
Founded in 2015, Blue J utilizes machine learning algorithms to
scan historic judicial decisions and search for patterns to predict
the outcomes of future cases. Legal professionals leverage the data
alongside relevant case law, saving time and money. The company is
currently backed by BDC Capital, LDV Partners, Mistral Venture
Partners and Relay Ventures.
“Blue J’s predictive platforms fundamentally transform the way
professionals approach legal research and how they advise clients,”
said Amy Olah, Executive Director, CIBC Innovation Banking. “We are
proud to support Blue J as it continues to expand its product focus
and operations across North America.”
“CIBC Innovation Banking has been incredibly responsive,
especially in the current economic environment. The team
understands the needs of startup companies like ours, who are on
the leading edge and growing quickly,” said Benjamin Alarie, CEO
and co-founder, Blue J. “We are excited to work with them as we
continue to grow.”
About CIBC Innovation Banking CIBC Innovation Banking
delivers strategic advice, cash management and funding to North
American innovation companies at each stage of their business
cycle, from start-up to IPO and beyond. With offices in Atlanta,
Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and
Vancouver, the team has extensive experience and a strong,
collaborative approach that extends across CIBC’s commercial
banking and capital markets businesses in the U.S. and Canada.
About Blue J Legal Blue J uses proprietary data and
machine learning algorithms to predict court outcomes with 90%
accuracy. Its AI-powered platforms enable lawyers, accountants, and
other professionals to support their positions with data-backed
insights, research comprehensively and demonstrate due diligence.
Blue J is on a mission to bring absolute clarity to the law,
everywhere and on-demand.
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version on businesswire.com: https://www.businesswire.com/news/home/20200414005061/en/
Kathryn Lawler, kathryn.lawler@cibc.com, 416-242-1943
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