Startup Deeligence wins big at the fifth annual Global LegalTech Venture Days

IE Law School, LexisNexis and the Law Schools Global League (LSG) recently launched the fifth edition of the Global LegalTech Venture Days, a competition that advocates for the use of technology in law by nurturing thought leaders to provide innovative solutions to important challenges in the legal sector.

This year’s Global Legaltech Venture Days held various competitions in several international destinations, including New Delhi and Turin, but New South Wales took home the grand prize. Finalist Deeligence, the entrant from Australia, was crowned the winner and received a six-month mentorship program at LexisNexis.

“The goal of Deeligence is to revolutionize the way lawyers manage legal due diligence,” says Justin Hansky, one of the startup’s co-founders. A former M&A lawyer, the idea behind Deeligence was born from his frustration with the traditional due diligence process law firms have to undertake. After experiencing how inefficient, expensive and time-consuming it was firsthand, Justin was determined to change the status quo. “I heard multiple firms complaining about the awful processes that surrounded due diligence and knew I had to build something to help,” he explains.

“We free lawyers from the worst parts of legal due diligence so they can focus on adding value for their clients.”

The overarching problem is that document reviews typically surpass cost estimates, leading to huge revenue losses for law firms—especially for global legal teams based in different locales. Deeligence seeks to take deal management out of static Excel sheets and into an intelligent, comprehensive and intuitive platform, streamlining the due diligence process with cutting-edge automation and workflow tools. “Without any specialized training, teams can collaborate more efficiently, minimize administrative tasks and complete deals faster with less risk,” Justin states.

After his experience at the Global LegalTech Venture Days and South Summit 2023, Justin is glad he took the chance to step outside his comfort zone in an effort to grow his startup. He is especially thrilled with the networking he accomplished, not only with the corporate world but also with other like-minded disruptors. As he says, “The Global LegalTech Venture Days gave us an opportunity to both meet investors and get feedback from industry veterans, which helped us get investor-ready.”

Justin advises aspiring entrepreneurs to embrace collaboration, design thinking and Lean methodology to increase their startup’s chances of success: “Rely on your network for advice, guidance and to connect you with other like-minded people. Always be ready to do the same for someone that asks you—pay it forward!”