Technology

SoftBank Vision Fund’s 4th Japan Investment Is a Legal Tech Bet

SoftBank Group Corp.’s Vision Fund will lead a 13.7 billion yen ($101 million) Series D fundraising into Japanese startup LegalForce Inc., in the world’s biggest tech investor’s fourth outlay in its home country.

LegalForce, which uses AI to screen contracts for loopholes and potential legal risks, said other participants in the round include new investors Sequoia Capital China and Goldman Sachs Group Inc., as well as existing backers Mitsubishi UFJ Capital and Mizuho Capital. The fundraising lifts total amount raised to 17.9 billion yen, the company said in a release on Thursday. The startup has 2,000 clients, including Japanese companies Nomura Holdings Inc. and All Nippon Airways Co. LegalForce said it will use the funds on research and development and on expanding its sales team to win new customers.