Brightflag

Brightflag is an AI-powered legal operations platform designed to streamline matter management, control legal spend, and enhance collaboration between in-house legal teams and external counsel. Its suite of tools supports legal departments in managing complex workflows, financial planning, and vendor relationships.​

Features and functions of Brightflag include:

Matter Management
Brightflag provides a centralized system for managing legal matters, offering visibility into key contacts, budgets, invoices, notes, and documents. Features include task creation and assignment, due date tracking, and event monitoring to manage milestones and deadlines. The platform facilitates collaboration between in-house teams and external counsel, ensuring efficient matter progression and comprehensive reporting.
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Spend Management
The platform offers tools to monitor and control legal expenditures. Budget approval workflows allow for multi-level approvals in line with organizational policies. Support for matter-specific hourly rates aids in enforcing rate agreements, contributing to cost management. ​

Generative AI Capabilities
Brightflag's generative AI assistant, Ask Brightflag, enables users to gain insights into legal operations by answering queries related to vendors, timekeepers, and specific work items. This tool enhances decision-making by providing immediate access to relevant information. ​

Invoicing
Brightflag's invoicing system automates the review process, applying AI to assess compliance with billing guidelines and identify discrepancies. The platform supports various invoice formats, including PDF and LEDES, and offers features like auto-approval rules to streamline workflows. ​

Accruals
The platform automates the collection of accrual data by sending reminders to vendors and aggregating responses. This functionality provides finance teams with up-to-date and accurate financial information, facilitating effective financial planning and reporting. ​

Budgeting
Brightflag's budgeting tools enable legal teams to set and monitor budgets at various levels, including matter, department, and vendor. The platform supports budgeting by time period or phase and allows for the allocation of budgets across multiple vendors, enhancing financial oversight and forecasting capabilities. ​

Vendor Management
The platform includes features for managing vendor records, tracking performance metrics, and facilitating updates. This ensures that legal teams can maintain effective relationships with external counsel and assess vendor performance objectively. ​

Funding Information:
Brightflag has raised a total of $39.1M in funding over 7 rounds. Their latest funding of $28M was raised in December 2020 from a Series B round from Frontline Ventures, One Peak, Sands Capital Ventures, and Tribal.vc.