DraftWise
DraftWise provides AI-powered contract tools designed specifically for law firms, with a focus on leveraging a firm's historical deal data to enhance contract drafting, reviewing, and negotiation processes. The platform integrates securely with Document Management Systems (DMS) to facilitate efficient document navigation. Key features include proofreading and comparison capabilities that quickly identify issues in clauses, language, or client preferences by referencing past deal work, with auto-generated revisions and instant redlining. The Contract AI Assistant allows for querying negotiation history and provides AI-generated redlines aligned with client preferences. A standout feature is automated playbook generation, which automatically creates playbooks from deal history, ensuring consistency across contract drafts. DraftWise also provides access to the EDGAR database for comparing relevant contract types and language directly within draft documents. The platform uses agentic AI trained on real legal examples to perform deep research, interpret redlines and comments, understand version history, and edit entire documents efficiently. In March 2024, DraftWise raised $20 million in a Series A funding round led by Index Ventures. Clients include firms like Orrick Herrington & Sutcliffe and Gunderson Dettmer.
Key Information
Pricing
Model: Enterprise SaaS subscription. Custom pricing based on firm size and requirements.
Starting at: Not publicly disclosed. Requires contacting DraftWise sales for custom pricing.
Free Plan: Not Available
Trial: Not Available
Audience
Primary: Law firms, particularly those handling transactional work, M&A, and contract-heavy practices.
Secondary: Corporate legal departments, contract attorneys.
Use Case
Enhancing contract drafting, reviewing, and negotiation by leveraging a firm's historical deal data and AI-powered analysis.
Pros & Cons
Advantages
- Leverages firm's own historical deal data for context-aware suggestions
- Automated playbook generation from precedent
- Deep DMS integration for seamless workflow
- Agentic AI for comprehensive document editing
- EDGAR database access for benchmarking
- Strong client base including top law firms
- Reduces time on routine contract tasks.
Limitations
- Requires historical deal data to be most effective
- Pricing not publicly disclosed
- Primarily designed for law firms (may be less suitable for solo practitioners)
- Learning curve for maximizing AI capabilities
- DMS integration required for full functionality.
AI Capabilities
- Natural Language Processing (NLP) for contract analysis
- Generative AI for drafting and redlining
- Agentic AI for autonomous document editing and research
- Machine Learning (ML) trained on real legal examples
- Automated playbook generation
- Document comparison and analysis
- Version history interpretation.
Integrations
- Secure integration with Document Management Systems (DMS)
- EDGAR database access
- Additional integrations may be available - contact DraftWise for details.
Unique Features
- Leverages firm's own historical deal data for personalized AI
- Automated playbook generation from precedent
- Agentic AI for comprehensive document work
- EDGAR database integration for benchmarking
- Strong backing ($20M Series A led by Index Ventures)
- Trusted by top law firms (Orrick, Gunderson Dettmer).
Disclaimer: Information accuracy is not guaranteed. Always verify details directly with the provider and consult with qualified professionals before making decisions. This tool is not a substitute for legal advice.