Dubai Cultiv8 invests in UAE-based legal technology firm
SOURCE: Arabian Business
Among Code Engine Software's products are CasEngine, a bilingual product designed to help law firms and in-house legal teams collaborate efficiently
UAE-based LegalTech firm Code Engines Software has attracted investment from Dubai Cultiv8 through its $100m technology fund, it has been announced.
The size of the investment was not disclosed.
Dedicated to investing in financial technologies, artificial intelligence and blockchain, Dubai Cultiv8’s investment will allow Code Engines Software to expand its distribution of legal digitisation services towards other markets in the GCC.
“LegalTech is the latest trend and the legal sector is witnessing significant change like never before,” said Arif Al Alawi, CEO of Dubai Cultiv8. “We have seen tremendous growth in investment in LegalTech in the past few years and with this investment, we aim to lead the segment in the region.
Pravesh Kumar, the founding partner and chairman of Code Engines, said that the company’s initial strategic decisions “were tough due to the slow adaptability of technology in the legal sector.”
“However, constant push and admiration from our clients helped us to build the system on which they can rely on,” Kumar added.
“The last two years were great learnings and the recent funding round will allow us to expand in all verticals and will allow us to serve our clients better,” he said.
Among Code Engine Software’s products are CasEngine, a bilingual product designed to help law firms and in-house legal teams collaborate efficiently. Since its beta launch a year ago, the technology has been adopted by a number of law firms, corporates and banks in the UAE.