This interview is part of our new AI in Law series, where we interview the world's top thought leaders on the front lines of the intersections between AI and the legal industry.
In this interview, we speak with Richard Mabey, co-founder and CEO of Juro, to understand how his company is using AI to transform the legal industry, and what the future of law holds.
1. What’s the story behind Juro? And how did you begin?
RM: I was a corporate/M&A lawyer at a large international law firm, and a consistent pain point that I would find would be how people managed and interacted with contracts. Contracts are agreed at the happiest points in your business’ life — closing new deals, forging new partnerships, hiring new talent — but they seem to make everyone miserable. Research from the IACCM found that around 90 percent of people are dissatisfied with the contract process.
We made it our mission to make legal more human, get rid of clunky legacy processes and make managing contracts painless for everyone. My co-founder Pavel Kovalevich and I started to build Juro, and we were happy to find that plenty of businesses share our vision for user-friendly, frictionless contract management, fit for the modern business.
2. Please describe your use case and how Juro uses artificial intelligence:
RM: Juro is an end-to-end contract management platform that combines an intuitive, design-first interface with the latest AI technologies to help business teams in legal, sales and HR to save time on contracts. Customers can create, collaborate on, and sign contracts directly in Juro, using a Q&A flow and an editor custom-built for contracts. We offer collaboration features like approval workflow, redlining and version control, and external negotiations, to help users get to yes faster. We also integrate with the key systems our customers use, like Salesforce, Slack, and G-Drive.
We augment our users’ workflow with AI. For example, by deploying machine learning models, Juro can read, understand and tag uploaded documents automatically, to make valuable contracts data instantly usable and searchable. Our analytics stack helps teams spot bottlenecks and problem clauses; our ML capability also means users can mass-upload old PDF contracts into their digital contract management system of record. We let AI do the heavy lifting, so users can get back to the high-value work for which they trained in the first place.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
RM: We usually have great success with high-velocity contract environments, like marketplaces or B2B SaaS businesses. Our customer Wolt is an app-driven online food delivery service with 3,000 restaurants and more than 5,000 couriers across 14 countries throughout Scandinavia, the Baltic states, Eastern Europe, and Israel. Wolt found that contracts were slowing down the sales process, and turned to Juro to provide a frictionless workflow for signing deals with new restaurants.
With Juro, they cut their time-per-contract from 15 minutes down to five. From an original deployment of two users in one office, Wolt now has more than 40 Juro users in ten different markets. Juro’s focus on user experience made a big difference for the customer, who told us: “Juro’s easy to use, it makes it extremely easy to manage contracts, and there’s less room for human error – it takes out half the time and the pain of the previous system.”
For us, it was hugely satisfying to be part of Wolt’s growth story, and scaling our deployment alongside the business was a great validation of how robust our product is – and how much value we can bring to our customers.