Covenant, the AI-powered hybrid law firm – see AL video with co-founder below – has launched ‘Covenant 2.0’, a data intelligence platform that transforms traditional legal infrastructure and hands back knowledge to the clients. In this case private investors.
As the New York pioneer explained: ‘The solution provides investors direct, real-time access to verified legal data and insights, unlocking unprecedented speed and leverage throughout the investment lifecycle.’ And this includes not just a client’s own past matters, but wider trends across the market. You can also create graphs from this data to visually understand it.
They added that ‘without a centralized source, it’s nearly impossible to track historical data. This limits the ability to negotiate quickly, effectively and make informed data-driven decisions’.
So, as noted, Covenant is helping clients to capture, retrieve, and leverage that data, which is often lost after deals are handled by a traditional law firm.
Now, investors can ‘retrieve verified legal data instantly’ by using Covenant’s proprietary ‘Ask Covenant AI’, all through natural language prompts on a secure, intuitive interface, they added.
Key features include:
‘Ask Covenant AI: Query your verified legal dataset in natural language and get instant answers grounded in verified data.
Expanded Investment Reviews: AI-generated commentary, issue spotting, and negotiation insights for every investment type.
Investment Data Access: Every term, amendment, and side letter is instantly structured and searchable.
Portfolio Analysis: Detect trends, benchmark terms, and map correlations across funds and direct deals.
Comprehensive Market Coverage: Built to support every private market investment type, from closed-end and hedge funds to credit, real estate, and direct deals
Visual Graphs: Create a chart of any terms for your portfolio or any targeted subset of your portfolio.’
Jen Berrent, CEO and co-founder of Covenant, commented: ‘Legal data has always been locked in PDFs and law firm files, making it difficult to manually sift through and obtain key insights to leverage in negotiations. Covenant 2.0 will alleviate this ongoing bottleneck for private market investors by enabling them to gain immediate access and control over their legal data, which hasn’t been done before. We’re not layering automation on top of legacy law firm processes; we’re restructuring the workflow system for the legal space.’
And here is an indepth AL interview with Berrent that this site did a few weeks ago.
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Overall, is this a big deal? Yes. AL sees Covenant with its ‘AI is the leverage’ strategy as in effect the law firm of the future. Perhaps one day many more law firms will operate like this. Now with the data sharing with the clients they’ve taken their thinking one step further, allowing clients to make use of key information that is often lost – and which then leads to expensive ‘start from scratch’ scenarios.
So, they’ve not just helped to create a new model for a law firm, in this case a tech company and a law firm that are symbiotic with a licence agreement between the two entities that allows the AI part to receive external funding, but are now reshaping Knowledge Management as well.
More about Covenant here.
P.S. if you’ve not watched the video, it’s strongly recommended. Their approach really is a model many lawyers should be looking at, whether they are in new firms, old ones, Big Law, Small Law or anything else. They may not, nor perhaps cannot do the same, but there is plenty to learn from here.
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Legal Innovators Conferences in London and New York – November ’25
If you’d like to stay ahead of the legal AI curve then come along to Legal Innovators New York, Nov 19 + 20 and also, Legal Innovators UK – Nov 4 + 5 + 6, where the brightest minds will be sharing their insights on where we are now and where we are heading.
Legal Innovators UK arrives first, with: Law Firm Day on Nov 4th, then Inhouse Day, on the 5th, and then our new Litigation Day on the 6th.
Both events, as always, are organised by the Cosmonauts team!
Please get in contact with them if you’d like to take part.
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