BHSN’s AI-powered contract management solution raises KRW 6 billion in Series A funding
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South Korean AI-based contract management solution provider BHSN has secured 6 billion KRW in Series A funding from Altos Ventures.
BHSN, founded in 2020 by former corporate lawyer Lim Jeong-geun, has developed an “all-in-one enterprise AI legal solution” that helps businesses digitize and manage all their legal processes and data.
In particular, BHSN’s collaboration with Chang Byung-tak, a leading AI expert in Korea and the head of the AI Research Institute at Seoul National University, has helped to validate its technology. BHSN developed its own AI legal language model, “BHSN-BERT,” as a result of working with the research team on a natural language AI research and development (R&D) project in the legal field.
BHSN’s solution, powered by BHSN-BERT, gives businesses a bird’s-eye view of their contracts by analyzing individual clauses. The solution helps businesses streamline the entire contract process, from creating standard contracts by business units to legal review, coordination and agreement processes, internal approval, e-signature, contract storage, and performance management. Leading companies such as CJ Cheiljedang and SK Telecom have adopted the solution to improve their system efficiency and productivity.
Altos partner Song Kyung-chan said, “AI technology is developing rapidly, but it is still challenging to translate this into real-world business results. BHSN is a team that has successfully commercialized AI solutions by collecting and processing data in areas that require specialized knowledge, such as law, papers, and contract review. We decided to invest in BHSN because we believe the company has the potential to become a leader in the market.”
BHSN CEO Lim Jeong-geun said, “As global demand for ESG (environmental, social, and governance) increases, the need for integrated contract, legal review, and compliance data is also growing. This is driving the adoption of AI-based solutions such as BHSN. With this investment, we plan to accelerate the development of private large language models (LLMs) that can understand the causal relationships between legal documents and knowledge, and multilingual language models.”
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