Tomorro, a Paris-based startup focused on contract management, has bagged €25m to help it expand across Europe, along with a plan to develop their AI-driven negotiation capabilities.
AL has to say that although they got started in 2020 and have worked with over 300 companies, they’ve been under the radar in the US and UK. But, if they manage to develop a really versatile contract negotiation tool then we are likely to hear a lot more about them.
The company explained that ‘the idea is simple: help legal and business teams move faster, reduce risk, and close deals more efficiently. Our AI becomes a real negotiation partner – flagging risks, suggesting changes, and guiding users through the back-and-forth with clarity and speed’.
They added that Oro (their genAI tool within the platform) ‘supports you throughout the life cycle of your contracts. It extracts data from your documents to enable you to store them efficiently, and speeds up your negotiations by making recommendations based on your contractual policy’.
They also said that it achieves ‘92% accuracy’ on data extraction from contracts.
But the bigger question is how does this change contract negotiations? If this is limited to playbook + AI + the inhouse team modifying third party paper and then just sending it back, then this will be in-line with other tools in the market.
If it can go beyond that, e.g. perhaps both parties join an online space and genAI and other approaches drive them quickly to a suitable agreement, saving even more time on the back and forth, then that would be even better.
For AL, the goal has got to be something using a form of game theory, where both parties are using AI to rapidly ‘play out’ the negotiation for each and every clause based on each parties’ playbook, and / or any specific needs for that deal. Human lawyers then ‘top and tail’ the contract and it’s signed off.
I.e. AI-connected playbooks are good, but the real ‘time sink’ for contracts is the back and forth between parties. If that can be crushed into a few minutes by all involved having AI tools that ‘talk to each other’, then that would be great.
The company added that the investment round was led by XAnge and Acton Capital, with participation from Adelie, Founders Future, and continued support from early investors: HenQ, Resonance, Financière Saint-James, and Motier Venture.
They will now also:
‘Double our investment in AI over the next two years
Open our first office abroad — in the Cologne region, Germany
Hire more than 100 new team members by 2026.’
Antoine Fabre, Co-Founder & CEO, concluded: ‘From the beginning, we saw AI as more than just a tool. It’s a chance to rethink how contracts are created, negotiated, and managed – and to give teams back time and control. That’s why, in 2024, we introduced Oro, designed to instantly unlock contract data and transform it into actionable intelligence. With AI, we began paving the way for a new era – one where contract management is dynamic, intelligent, and frictionless.’
Good luck to them.
You can find more about Tomorro here.
—
Legal Innovators California Conference, San Francisco, June 11 + 12
If you’re interested in the cutting edge of legal AI and innovation – and where we are all heading – then come along to Legal Innovators California, in San Francisco, June 11 and 12, where speakers from the leading law firms, inhouse teams, and tech companies will be sharing their insights and experiences as to what is really happening and where we are all heading.
We already have an incredible roster of companies to hear from. This includes: Legora, Harvey, StructureFlow, Ivo, Flatiron Law Group, PointOne, Centari, eBrevia, Legatics, Knowable, Draftwise, newcode.AI, Riskaway, SimpleClosure and more.
And if you are a startup – for inhouse teams, or for law firms, or both, and would like to get involved, then please contact:
robins@cosmonauts.biz
See you all there!
More information and tickets here.