Company: Ontra, San Franciso, CA
Company Description: Ontra is an AI-enabled legal technology company that is the industry leader in contract automation & intelligence for the private markets industry. Our Legal Operating System comprises three products, Contract Automation, Insight (for fund obligation management) and Atlas (for legal entity management). Our AI integrates proprietary & commercial LLMs, proprietary data, and humans-in-the-loop.
Nomination Category: New Product & Service Categories - Business Technology
Nomination Sub Category: Legal Solution
 Nomination Title: Ontra's Atlas
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the nominated new or new-version product or service, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released:
Our AI-enabled Legal Operating System comprises three products: Contract Automation (launched 2014, routine contract negotiation automation & intelligence), Insight (launched 2021, fund obligation management) and Atlas (launched 2023, legal entity management). Our newest product, Atlas is purpose-built for private equity firms to manage their legal entity needs.
- If you are providing written answers for your submission, you must provide an answer to this second question: Describe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 162 words used.
Atlas is a modern legal entity management solution purpose-built for the private markets in collaboration with customers and internal subject matter experts. Atlas simplifies legal entity management and solves a common pain point for customers who rely on manual outdated processes and tools (deskbooks, spreadsheets, pdfs) or try to shoehorn data into tools that are not tailored to private equity needs and complexities. In addition to being a centralized, digital repository for entity information, it also algorithmically generates structure charts based on capitalization information, and can render complex fund and portfolio company structures in seconds. We continue to develop the product and have introduced new GPT-4 enabled AI integrations in Q1 of 2024.
- Features:
- Single Source of Truth for entity information
- Smart Charts (algorithmically generated entity structure charts)
- Customizable sharing (with internal & external teams)
- Governance information easily accessible
- Automated "new entity" workflow
- Formation document data extraction
Benefits:
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- Save time
- Decrease expenses (particularly with external counsel)
- Reduce risk of errors
- Quick implementation
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 141 words used.
Atlas was launched in September of 2023 and has over a dozen customers to date. Technology solutions for private markets workflows have an extended sales cycle, and we are optimistic about our pipeline and interest to date. Customers have shown early enthusiasm for the product:
“Ontra plays a key role in the digital transformation strategy for our legal team,” said Lindsay Rutishauser, Chief Compliance Officer at Motive Partners. “They’ve translated a nuanced understanding of the private markets into applications that squarely address our most important legal needs. Atlas is another example of an application that will allow my team to achieve greater levels of productivity while mitigating risk. We’re very focused on ensuring that our legal team utilizes best-in-class technology to provide high-quality legal support to our firm, and having a robust entity management solution makes all the difference.”
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 8 words used.
https://www.ontra.ai/press-release/ontra-atlas-entity-management-private-equity/
https://www.ontra.ai/resource/video/ontra-atlas-explainer-video/
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