Toronto-based Blue J Legal has received $2 million CAD in growth capital financing from CIBC Innovation Banking.
Blue J has developed a machine learning and AI-powered legal software platform that specializes in North American tax law and Canadian employment law. The new capital will be used for geographic expansion as well as expanding into new product segments.
“Blue J’s predictive platforms fundamentally transform the way professionals approach legal research.”
The $2 million follows a $9.3 million CAD Series A round raised by Blue J two years ago. At the time, the startup used the funding to enter the US market, expand its product suite, and grow its go-to-market and product development teams. Previous investors in Blue J include BDC Capital, LDV Partners, Mistral Venture Partners, and Relay Ventures.
Currently, Blue J has offices in New York City, Washington, and Toronto, and according to LinkedIn has a team of around 50 employees.
Blue J’s platform uses machine learning algorithms to scan historic judicial decisions and search for patterns to predict the outcomes of future cases. The idea is to create a digital way to help legal professionals save time and money.
The idea for Blue J began in 2014, according to the company’s website, when CEO and co-founder Benjamin Alarie was judging an IBM Watson Challenge at the University of Toronto where he worked as an associate dean. Students and startups were challenged to create commercial implementations for Watson. Alarie became intrigued by the possibilities of applying AI to tax law.
Blue J launched its platform in 2015 with the idea to use predictive technology to help tax professionals and lawyers understand how courts would rule on their positions. Since then, the startup has expanded its product offering to include Employment Foresight and HR Foresight, alongside the original Tax Foresight product.
“Blue J’s predictive platforms fundamentally transform the way professionals approach legal research and how they advise clients,” said Amy Olah, executive director of CIBC Innovation Banking. “We are proud to support Blue J as it continues to expand its product focus and operations across North America.”
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