All people who manage contracts know it: it is a time consuming, tedious, even risky task if we miss deadlines. To save time for lawyers and contract managers, Alexandre Grux, Alexis Agahi and Guillaume Bon came up with the idea of creating Hyperlex, an artificial intelligence platform that analyses and helps to simply manage all the contracts of a business. It absolutely does not replace lawyers: its mission is to identify the key elements of the documents to follow to enable them to easily manage any legal or financial risk. A real “control tower” to keep an eye on all contracts!
"We benefitted from several personalised coaching sessions to help us improve our pitching. EDF Pulse is more than a start-up contest!"
Alexandre Grux - CEO of Hyperlex
The artificial intelligence of Hyperlex is not limited to French contracts. Thanks to the latest machine learning methods, it is able to constantly adapt and take into account the diversity and versatility of different national laws, to analyse all types of contracts, whatever the activity of the company and in any European country. This agility did not fail to win over the Grand Jury of the 2018 EDF Pulse Awards which awarded it the top award in the “Smart Business” category. This first award is promising for this strong team, which aims to become the number one contract management solution in Europe. A great goal!
€1M raised in February 2018
3M Nearly 3 million contracts already managed
9 employee experts in machine learning
The Hyperlex Team
The founding members of Hyperlex have several things in common: they all have entrepreneurial experience in the B2B SaaS software industry (Kyriba, Pyxidr), they know machine learning technologies inside out and they have all had to manage contracts.
A few years ago, Alexandre, our CEO, was a Director of R&D and over and over again he would come up against issues reviewing and monitoring contracts signed with partners. One day, after missing an important deadline related to a “complicated” clause, he came up with the idea of using new artificial intelligence technologies to help all those like him who manage contracts in companies.
Any recent good news?
We have just launched a product for French and European SMEs and MSBs.
What is the most unexpected thing that your startup has made you do?
Teaching our Artificial Intelligence to “understand” contracts. As with (my) children, a teaching and learning phase is involved. In the case of Hyperlex, it was a question of showing our “bot” dozens of examples of different types of contracts and (manually) pointing out the important clauses of each of them. The whole team pitched in to make the bot as smart as possible!
In what way does your project revolutionise your category?
We help all those who handle legal documents in companies to put an end to “contract hell” by enabling them to identify and retrieve all important information easily... using an artificial intelligence designed for contracts.