June 2nd: New Startups Join MDR Lab, and Casepoint Investigates Data Breach

Welcome to Law Tech Daily - the podcast that answers “What happened in legal tech this week?”.

Join us each Monday, Wednesday, and Friday as we dive into the exciting world of legal tech news. Don't forget to hit that subscribe button to stay up-to-date on the latest episodes!

Welcome to your briefing for June 2nd.

Let's get started!

There were some interesting developments in the legal tech world yesterday, from new appointments to cybersecurity breaches and everything in between.

Deloitte Legal has appointed a new global leader, Richard Punt, who has big plans to revolutionize the legal industry. Punt believes that offering integrated, multidisciplinary solutions will be key to meeting the evolving needs of clients and stepping up in the industry. This approach acknowledges the importance of combining legal expertise with other disciplines to deliver comprehensive and innovative services.

Speaking of innovation, both Mishcon de Reya's MDR Lab and Deloitte Legal are actively incorporating artificial intelligence (AI) into their operations. Mishcon de Reya's MDR Lab has welcomed some promising startups. Meanwhile, Deloitte Legal aims to drive AI adoption among general counsel, recognizing it as a defining moment for the legal industry. It's clear that AI is quickly gaining a foothold in the legal profession, as more and more companies recognize its potential to streamline processes, increase efficiency, and unlock new possibilities.

However, amidst all this innovation, there's a reminder that security challenges persist in the digital landscape. The recent data breach faced by Casepoint highlights the ongoing cybersecurity threats that legal tech companies and law firms face.

Let's look at our key stories in more detail.

First up, Mishcon de Reya, a well-known law firm, recently announced the addition of three startups to its MDR Lab programme. This initiative further bridges the gap between law and technology, providing a collaborative environment where startups can develop innovative solutions for the legal industry.

So, who are these startups, and what do they do? Ayora is building a cash management platform aimed at optimizing cash flow and reducing lock-up periods for large enterprises. Martello is developing a digital platform focused on building a live "property search" database to expedite the home buying process. Lastly, ApprentAI is creating a GenAI document review platform offering litigators insights within their cases, enhancing their understanding and analysis capabilities.

These additions demonstrate Mishcon de Reya's commitment to evolving the legal industry by fostering the integration of technology into legal practice. With the help of legal professionals, Ayora, Martello, and ApprentAI will refine their products over the next 12 weeks. It's amazing to see how Mishcon de Reya is providing a supportive environment for startups to develop innovative solutions and help shape the future of the legal industry.

Moving on to our next story, we have some concerning news. E-discovery company Casepoint is investigating a data breach after a ransomware gang claimed to have over two terabytes of its data, including attorney files, visa details, information from the U.S. government, and other sensitive information. The Russia-linked ALPHV ransomware gang, also known as BlackCat, claimed Casepoint as a victim and posted files on the dark web as a sample of the compromised data.

Casepoint's clients include the U.S. Courts, the U.S. Securities and Exchange Commission, the U.S. Department of Defense, the Marriott hotel chain, and the Mayo Clinic. This breach could potentially have serious consequences, so we hope the investigation will uncover more information and that steps will be taken to prevent similar incidents from happening in the future.

And that's a wrap.

Subscribe, follow, and join us next time to learn “what happened in legal tech this week?”.

Stay informed, get ahead.