LexisNexis Legal & Professional and Knowable form joint venture

LexisNexis Legal & Professional, part of RELX, has entered into an agreement to form a joint venture with Knowable, a provider of software for enterprise contract intelligence.

Knowable was spun off from Axiom Global Inc. in February 2019. Knowable will operate independently and be led by Mark Harris and Alec Guettel, Axiom’s co-founders, as CEO and CFO, respectively.

Knowable supports many of the world’s largest companies, including Dell, GE, and Nestlé USA, providing machine-learning-enabled contract data analytics and related contract intelligence solutions. Knowable provides clients with visibility into the relationships that govern business activities, and helps to mitigate risk and drive value. By converting legal language into structured data, Knowable helps its clients understand what’s in their contracts, providing a global view of risks, obligations, and entitlements.

With more than 25 million contract data elements analyzed each quarter, Knowable combines proprietary machine learning tools with legal subject matter expertise that, together, deliver a full contracts intelligence solution for the enterprise. Knowable will provide LexisNexis customers with contract analytics alongside the existing portfolio of advanced technology-enabled decision tools and analytics.

“Data and analytics are integral to the future of the practice of law and Knowable is widely recognized as a leader in the contract analytics space,” said LexisNexis Legal & Professional CEO, Mike Walsh. “Bringing this expertise together with our own strengths in AI, machine learning, and natural language processing, as well as our vast content sets, will enable us to deliver new and unmatched innovations that will transform the way our customers work.”

More information is available about LexisNexis Legal & Professional.