Dan Broderick believes businesses waste billions in repetitive work reviewing and negotiating semantically similar contracts. As a former lawyer, he saw the problem first-hand. It led him to found BlackBoiler, whose AI-based technology automates the review and mark-up of inbound contracts right in Word’s Track Changes.
This week, BlackBoiler announced two new U.S. patents for its contract review software, bringing its total to seven. This comes less than two weeks after the company secured $3.2 million in funding from a group of strategic investors that included agreement cloud company DocuSign.
In this episode of LawNext, Broderick joins host Bob Ambrogi to share the story of how BlackBoiler came to be and the problem it addresses. He also describes how BlackBoiler works to automatically mark-up contracts, and discusses his plans for the future development of the technology and the company.
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