Relativity, a Chicago, IL-based global legal and compliance technology company, acquired Heretik, a contract review company that combines machine learning technology and advanced analysis to allow organizations to gain immediate insight into contract data.
The amount of the deal has not been disclosed.
Moving forward, Heretik’s end-to-end contract review solution will be known as Relativity Contracts, enabling users to rapidly transform existing agreements into structured, actionable data. Relativity Contracts will be integrated into RelativityOne, and available as an add-on in mid-2023. This integration will enable targeted AI and machine-learning capabilities such as contract classification and segmentation, data extraction to fields, imaging, and optical character identification.
Charlie Connor, CEO, and Co-Founder of Heretik, provides a lightweight contract reviewing application that can be integrated into existing contract management tools. This solution allows teams to convert existing agreements into structured, actionable information to efficiently handle all types corporate transactions and regulatory response use cases. It enhances best practices while causing minimal disruption.
Relativity’s CEO Mike Gamson is responsible for creating software that helps users organize, read, and act on data. Its SaaS product RelativityOne manages large volumes of data and quickly identifies key issues during litigation and internal investigations. Relativity Trace is an AI-powered communication monitoring product that proactively detects regulatory misconduct, such as insider trading and collusion. Relativity is used by more than 300,000. Users are located in around 40 countries. They serve thousands of organizations worldwide, primarily in the legal, financial and government sector.