Bob Pritchett spent three decades running Faithlife, the Bellingham, Wash.-based church technology company behind the popular Logos Bible study software.
Now he’s applying lessons from that experience to a new entrepreneurial venture called AllDrafts, which aims to help lawyers draft contracts.
“It turns out Bible study and the law have something in common: they both involve a lot of commentary on ancient and sacred texts,” Pritchett said via email.
Faithlife sold a majority of its shares to private equity firm Cove Hill Partners in 2020. Pritchett stepped down as CEO of Faithlife in 2022, and founded AllDrafts later that year.
“I started AllDrafts because I was frustrated, as a client, to be paying high hourly rates to lawyers who were wasting time with 1990s technology — emailing me Word documents, not prepping documents for e-signature, not supporting automated data collection for stock contracts, etc.,” Pritchett said.
Pritchett learned that lawyers often had trouble drafting contracts in Microsoft Word because it was easy to make errors related to formatting, templates, e-signatures, and more.
His experience developing electronic Bible study software also came in handy.
“Lawyers and pastors are both writing documents every week, and they’re full of cross-references and specific formatting needs,” he said. “And many of the ideas I helped develop for navigating complex texts, like dynamic hyperlinks, hover-previews of cross-references, search-filtered views of documents, etc., turned out to be super useful while drafting a contract.”
AllDrafts is focused on editing capabilities, but it also offers some features powered by generative AI, such as the ability to quickly draft an outline or clause, or simplify writing.
There are a number of startups using AI and other technologies to help lawyers streamline tedious tasks, including Seattle-based companies Clearbrief, Prophia, and Predict.law.
Others focus more broadly on contracts, including Lexion, which sold to Docusign earlier this year, and Icertis, one of the largest privately held startups in the Seattle region.
AllDrafts, based in Bellingham, is self-funded with more than $1 million in investment and has seven employees.
https://ift.tt/SbuyLm2 July 08, 2024 at 02:30PM GeekWire
Post a Comment
0Comments