Legal documentation review in financial services is, by its nature, a careful process that, on the one hand, presents a challenge while, on the other hand, it is considered a necessity. With the objective of efficiency and precision, innovation leader Semeris has introduced artificial intelligence for transforming the reviewing process of legal documentation.

Founded in April 2020, Semeris is a London-based legal technology company committed to developing leading-edge contract analysis products for the financial industry. 

Semeris empowers financial services firms with the tools they need to simplify review, analysis, and summarization of complex legal documents through its integration of NLP, machine learning, and human expertise to reduce time and effort associated with legal document analysis.

Semeris was founded by Peter Jasko and Sam Daroczy. These co-founders have extensive experience with the company. Peter Jasko, CEO, has over two decades of experience in finance and technology. He had been in banking before he exited in 2008. 

Within the last two years, he had successfully exited three fintech ventures, further cementing his understanding of how to navigate finance and technology together. With these qualifications, the firm’s overall approach to innovative legal document analysis is further buttressed by a robust background in fintech entrepreneurship by Sam Daroczy.

Innovative Solutions by Semeris

Semeris’s core value lies in developing AI-driven products for the optimal enhancement of the efficiency of the review of legal documents. 

A product that highlights this is its flagship, namely, Semeris Docs – a document library customized for use with Collateralized Loan Obligations, or CLOs. Launched in November 2020, Semeris Docs offers key term summaries and has an advanced document viewer that identifies legal terminology and allows for cross-deal comparisons. 

The NLP, AI, and human curation of this product will allow users to easily navigate the complex legal language, thus saving a significant amount of time.

Semeris is very impactful in the CLO market, because here, in order to execute a deal efficiently, one has to analyze the legal documents pretty quickly and accurately. Semeris provides financial professionals with a centralized library of transaction documents and important notices to understand the details of deals and compare terms across transactions. It differentiates the platform from other data extraction tools in the market because it allows comparing how language varies from deal to deal and how it evolves over time.

Funding Details

In a significant shot in the arm for its growth trajectory, Semeris secure €4 million in funding. This seed capital is subsequent to a £600,000 fund led by QVentures, an early-stage investment venture capital firm, in July 2021. 

The latest round of funding is further validation of investors’ confidence in Semeris’s vision and the effectiveness of its AI-driven solutions in meeting the challenges that surround the financial sector in legal document analysis.

This infusion of €4 million will help speed up Semeris’s growth plans, especially in the U.S. and European CLO markets. The company will strengthen its product lines, further developing AI capabilities and increasing document libraries for several asset classes. 

This strategic growth plan allows Semeris to provide more comprehensive services to a wider array of financial institutions, from boutique investment firms to global systemically important banks (G-SIBs).

Read more

1. Eve Legal raises $47M to to assist plaintiff law firms
2. fileAI Raises $14M to AI-Driven Document Automation
3. Kodesage Raises €2.3M to Transform Legacy Systems with AI-Powered Modernization

Market Reception and Future Prospects

Since inception, the company has received positive reviews from key players in the financial industry. The company’s solutions boast of accelerating investment operations and opening up opportunities in new markets. In this light, Semeris has ample opportunities to scale up operations, work toward product refinement, and deepen its foothold in the financial services sector.