Singapore-based AI Knowledge-Management platform, INTELLEX recently announced that it has raised $2.1 million in a recent funding round. The fundraising was led by China-based Quest Ventures.
The funding round also saw participation from Thomson Reuters, Insignia Ventures, K3 Ventures and a Singapore Government backed VC fund. Other early backers of the company include Sim Wong Hoo (Creative Technologies), Tan Kim Seng & Jeffrey Khoo (3VS1), Kelvin Chan (Ex-Partners Group) and Chandra Mohan & Chong Chiet Ping (Early investors in Razer).
Professional services firms have always struggled with knowledge management. Organizing information is costly and tedious, and searching for assets using keywords is often ineffective. Intelllex, aims to address these pain points.
In conjunction with the funding, Jeffrey Seah, Partner at Quest Ventures, a MNC industry veteran, will join the INTELLLEX board of directors. “B2B AI intelligence platforms will bestow new business capabilities to the Professional Services industry,” said Jeffrey Seah.
“We like that INTELLLEX’s Brains-with-AI-Brawn offering is well-positioned to resolve age-old productivity and delivery problems across multiple B2B industries. They are an excellent team of intrepid domain and technology entrepreneurs and have our full support,” he added.
With the new funds, Intelllex plans to extend its services across Europe and Asia Pacific and accelerate the development of new products, said Chang Zi Qian, the startup’s co-founder and CEO.
Speaking on the future products, Co-Founder and Co-CEO, Ellery Sutanto said, “Our next product upgrade will explore applications beyond the legal industry to related knowledge based industries like financial services regulation, corporate finance regulation and tax.”
INTELLLEX’s clientele include international and local law firms, government and regulatory institutions, corporate legal teams and legal content providers. INTELLLEX is a pre-approved legal technology software vendor under the Singapore Government’s “Tech-celerate For Law Programme.”
INTELLEX was established in 2015 by Qian, along with Ellery Sutanto and Li Jianxin, and is led by a team with legal experience. It uses AI to convert a company’s knowledge assets into ready-to-use materials that can be easily accessed when needed.
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