Legal tech startup raises over $3 million to automate complex processes for global investment fund lawyers
Chicago, United States, 10 March 2026 – The legal technology industry is rapidly evolving, and companies are increasingly turning to automation and artificial intelligence to simplify complex legal operations. Intelligent Legal Solutions (ILS), a fast-growing legal tech startup, is taking a major step in that direction after announcing a new seed funding round led by Chicago Ventures.
With this investment, the company has raised more than $3 million to date. The funding will help ILS accelerate the development of a centralized workflow system designed specifically for private funds’ legal teams. The platform aims to simplify processes that are traditionally handled manually, such as side letter management, comment memo management, and the Most Favored Nation (MFN) process.
Founded in 2024, ILS is focused on bringing efficiency and structure to legal workflows that have long relied on emails, spreadsheets, and fragmented systems. The company’s flagship product, ProVision, is already gaining strong traction across the legal industry.
ProVision is designed as a side letter management platform that helps law firms organize, track, and manage legal agreements more effectively. According to the company, the platform has already processed more than 5,000 side letters across over 450 legal matters and supported more than $150 billion in capital fundraises across regions including the United States, United Kingdom, European Union, Hong Kong, Singapore, and the Middle East in 2025.
Several leading global law firms have already adopted the technology. Customers include well-known firms such as Cleary Gottlieb, Fried Frank, Goodwin, Paul Weiss, Proskauer, Ropes & Gray, and Willkie Farr & Gallagher.
Theresa Spartichino, Director of Practice Technology at Ropes & Gray LLP, said the platform has quickly become an important part of the firm’s asset management technology ecosystem. She noted that legal teams adopted the tool quickly and that the company actively incorporated feedback from attorneys to improve its features.
ILS was created after its founders noticed a major gap in the legal technology landscape. While working at top law firms, co-founders Fergus Plant and Jack McCarthy observed that many post-close fund workflows were still managed manually. Partnering with software expert Stefano Benigni, they built ProVision to bring automation, structure, and reliability to these processes.
The platform converts complex legal agreements into structured and searchable records. It also streamlines the MFN election process by automatically generating election forms and tracking selections made by investors. By integrating artificial intelligence into its system, the platform helps reduce manual work and improves accuracy for legal teams handling high volumes of documents.
ILS has also emphasized strong data security and compliance practices. The platform follows SOC 2 Type 2 security standards and complies with GDPR regulations, ensuring that sensitive legal information remains protected.
Conan Hines, Director of Practice Innovation at Fried, Frank, Harris, Shriver & Jacobson LLP, highlighted the operational benefits of the platform. He explained that ProVision provides greater clarity and consistency in managing complex side letter negotiations, allowing legal teams to maintain better visibility and respond quickly to client requests.
In addition to improving day-to-day workflows, ProVision also helps legal teams maintain long-term oversight of fund agreements. Lawyers can track obligations, review negotiated terms, and coordinate investor updates more efficiently throughout the lifecycle of a fund.
Investors also see strong potential in the company’s approach. Eric Duboe, Partner at Chicago Ventures, said ILS is building a new workflow system for private funds lawyers and has already shown impressive adoption among leading law firms. He noted that the company’s disciplined use of artificial intelligence and its lawyer-led development strategy position it well to shape the future of legal technology.
The new funding will support the expansion of the ProVision platform and help the company execute an ambitious product roadmap planned for 2026.
As the legal industry increasingly embraces digital transformation, solutions like ProVision are expected to play a growing role in modernizing law firm operations. By combining artificial intelligence, legal workflow automation, and secure cloud-based systems, ILS is positioning itself as an emerging leader in legal tech innovation.
