Sponsored by Monday Properties and written by ARLnow.com, Startup Monday is a weekly column that profiles Arlington-based startups and their founders, plus other local technology happenings. The Ground Floor, Monday’s office space for young companies in Rosslyn, is now open. The Metro-accessible space features a 5,000-square-foot common area that includes a kitchen, lounge area, collaborative meeting spaces, and a stage for formal presentations.
Arlington-based BlackBoiler, a startup that generates automated markup suggestions for corporate contracts, has secured $3.2 million in funding.
The money will expand how BlackBoiler applies its proprietary Artificial Intelligence technology, help the company acquire more clients and hire more staff to handle development and help new clients get started.
“AI is not going to replace lawyers but lawyers should use AI,” said Dan Broderick, co-founder and CEO of BlackBoiler. “BlackBoiler can’t fully automate contract negotiation, but we can make you 60% to 70% more efficient.”
The company and its technology “addresses a global, $35 billion market in which companies spend $26 billion reviewing and negotiating semantically similar contracts, $7 billion of which is verbatim work,” according to a press release. “The company’s automated editing technology suggests company-specific revisions to corporate documents to automate the process of contract negotiation — right in Track Changes, like an attorney would.”
The additional funding will fund research and development to make the proprietary technology more efficient. Right now, clients gather 100 to 200 documents of how they edited contracts and documents, and an editing model is created from that, Broderick said.
“In the future, clients can build models on the fly,” using an old model to make a new model more quickly, he said.
“It’s not just inefficient — it’s bad business,” Broderick said, of the problem he’s trying to solve. “People need to be thinking of tech as a partnership instead of thinking of it as ‘doing everything for me.'”
BlackBoiler’s client roster includes some of the largest U.S. law firms and several organizations within the Fortune 1000, including TE Connectivity, a $14 billion technology manufacturer.
“BlackBoiler’s AI platform provides our law department with a dynamic productivity tool driving efficiency and increased speed in contract review and execution,” said Jim Michalowicz, Head of Legal Operations Business Performance at TE Connectivity. “The BlackBoiler tool also provides a significantly greater level of accuracy by the re-use of knowledge, standard clause banks and contract templates.”
The startup, which lists an office address along Lee Highway near the Lee-Harrison Shopping Center, previously received funding in 2017 through a $225,000 small business grant from the National Science Foundation.
The company holds six patents in the U.S. and is currently pursuing additional intellectual property protection in the U.S., Canada and Europe.
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The Arlington-Aachen High School exchange is returning this summer and currently accepting applicants.
The sister-city partnership started in 1993 by the Arlington Sister Cities Association, which seeks to promote Arlington’s international profile through a variety of exchanges in education, commerce, culture and the arts. The exchange, scheduled June 17th to July 4th, includes a two-week homestay in Aachen plus three days in Berlin. Knowledge of the German language is not required for the trip.
Former participants have this to say:
_”The Aachen exchange was an eye-opening experience where I was fully immersed in the life of a German student. I loved biking through the countryside to Belgium, having gelato and picnics in the town square, and hanging out with my German host student’s friends. My first time out of the country, the Aachen exchange taught me to keep an open mind, because you never know what could be a life changing experience.” – Kelly M._
Learn about the new assessment of Arlington’s urban tree canopy and the many ecological and social benefits trees provide. Staff from the Green Infrastructure Center (GIC) will share study results and compare canopy cover for different areas of Arlington.The webinar will include assessments of ecosystem services such as stormwater mitigation, air quality, carbon uptake, and urban heat islands. For background on Arlington trees see the “Tree Benefits: Growing Arlington’s Urban Forest” presentation at http://www.gicinc.org/PDFs/Presentation_TreeBenefits_Arlington.pdf.
Please register in advance to assure your place at the webinar, https://attendee.gotowebinar.com/register/29543206508863839.
About the Arlington County Civic Federation: The Arlington County Civic Federation (“ACCF”) is a not-for-profit corporation which provides a forum for civic groups to discuss, debate, inform, advocate and provide oversight on important community issues, on a non-partisan basis. Its members include over ninety civic groups representing a broad cross-section of the community. Communications, resolutions and feedback are regularly provided to the Arlington County Government.
The next meeting is on Tuesday, February 21,2023 at 7 pm. This meeting is open to the public and will be hybrid, in-person and virtually through Zoom. Part of the agenda will be a discussion and vote on a resolution “To Restore Public Confidence in Arlington County’s Governance”. For more information on ACCF and this meeting, go to https://www.civfed.org/.
Valentine gifts for someone special or for yourself are here at George Mason University from noon -4pm on February 14, 2023. Satisfy your sweet tooth with Kingsbury Chocolates, find a handmade bag from Karina Gaull, pick up treats from Village