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LFJ Podcast: Richard Culberson, CEO, Moneypenny

By John Freund |

In this episode, Richard Culberson, the CEO of Moneypenny, discuses how technology is redefining communications and the client experience within the litigation funding and broader legal services industries.

In this podcast, Richard highlights:

  1. Balancing innovation with professionalism when it comes to the human connection that clients demand
  2. How to implement secure digital communication tools to ensure that AI-enabled client insights maintain robust security
  3. One technology that most firms still overlook but has the potential to become a major differentiator in client experience
  4. Practical first steps for firms that wants to future-proof their communication strategies without overwhelming their internal teams.

Plus much more! Check out the full video below:

About the author

John Freund

John Freund

Commercial

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Announcements Commercial Fundraising

Theo Ai Secures 4.2MM Seed Round to Advance AI-Powered Settlement Prediction for Big Law

By Harry Moran |

Theo Ai, the AI-driven prediction platform for litigation, has raised a $4.2 million seed round just six months after its $2.2 million pre-seed announcement in November. The round was co-led by returning investor NextView Ventures and new investor Collide Capital. As part of the investment, Aaron Samuels, General Partner at Collide Capital, will join Theo Ai’s board. The funds will be used to expand proprietary data pipelines, enhance legal corpus, and reinforce supervised learning with legal experts.

“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making,” said Patrick Ip, Co-founder and CEO of Theo Ai. “With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”

Theo Ai will use the new capital to accelerate product development, focusing on its AI-powered settlement prediction tools tailored for Big Law firms and General Counsels. The company is committed to building firm-specific prediction engines that leverage case history and proprietary data to provide actionable insights across a wider array of legal scenarios.

“The leadership team within Theo Ai continues to demonstrate a deep understanding of customer needs and the way advanced technology can reshape the legal field for decades to come” said Co-Founder and Partner at NextView, Rob Go. “this round came together very quickly because customers are quickly adopting what they see as a uniquely valuable solution."

“Theo Ai is transforming the way legal teams predict and manage settlements, and we are excited to back their next phase of growth,” said Aaron Samuels. “Having crossed paths with Patrick early in our respective founder journeys, it’s incredible to now collaborate in building the future of AI-driven legal intelligence.”

The funding round also marks a significant expansion of Theo Ai’s leadership team with the appointment of Jay Mandal as Chief Product Officer. A Stanford Law Lecturer and former COO at SAP, Mandal brings deep expertise in AI, enterprise technology, and legal innovation. He previously was the head M&A attorney at Apple and founded a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as Head of Partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Rob brings deep expertise across portfolio, single-case, and corporate monetization strategies. He most recently founded REMO Litigation Finance and served as SVP at Burford Capital.

Theo Ai’s seed round saw participation from all pre-seed investors, including nvp capital, Ripple Ventures, and Beat Ventures. The round also welcomed new investors Four Acres Capital and a distinguished group of angel investors from across legal, finance, and technology:

  • David Fox (Kirkland & Ellis)
  • Bo Berluti (RTP Global)
  • Ramesh Dhanaraj (ex-Fortress Investment Group)
  • Vivek Nasta (ex-Thomson Reuters)
  • Akash Garg (ex-Uber)
  • Art Calcagnini (ex-UBS)

Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently partnering with Mustang Litigation Funding – and has rapidly expanded into serving Big Law and in-house legal teams. The strong market demand led to an oversubscribed seed round, reinforcing confidence in Theo Ai’s technology and vision.

With this latest funding, Theo Ai is poised to drive the future of AI-powered legal decision-making, delivering cutting-edge predictive solutions for the legal industry.

To learn more and join the waitlist for Theo Ai, visit: Theo Ai

About Theo Ai

Theo Ai is the first predictive engine designed by technical and legal professionals to forecast the outcome of legal disputes. Its AI models are trained on historical case data and incorporate real-time analytics with predictive modeling to deliver accurate and actionable insights. Theo Ai is meeting the most critical need for legal professionals - offering accurate case outcome predictions, backed by data. To learn more and join the waitlist for Theo Ai, visit: https://theoai.ai/#product

Commercial Legal Innovation

AALF Announces Completion of Template Insolvency Litigation Funding Agreement

By Harry Moran |

One of the common talking points at industry events is the need for increased standardisation in legal funding, with a set of agreed upon best practices often viewed as an important step forward for the maturation of the industry.

In a post on LinkedIn, The Association of Litigation Funders of Australia (AALF) announced that it has created and released a Template Insolvency Litigation Funding Agreement. AALF explains that the template is designed ‘to optimise efficiency for lawyers and insolvency practitioners involved in funded insolvency litigation’, providing a practical industry baseline for the use of such funding agreements in Australia. 

The ‘insolvency claim funding deed’ template as shown in the announcement offers a basic layout for the details of the funder, claimant, insolvency practitioner, and lawyers. The deed structure then outlines the following four key components that the deed will be comprised of: commercial terms, funding deed – general funding terms, definitions, and three annexures. The annexures include an insolvency practitioner’s report, a lawyer’s report, and a payment claim report for other funded costs.

AALF expressed its thanks to its members who contributed to the completion of this template with special thanks to the following individuals: Frances Dreyer (Johnson Winter Slattery), Doug Hayter (Ironbark Funding), Heather Collins GAICD (Court House Capital), Stuart Price (CASL), Lisa Brentnall (Clover Risk Funding), John Walker (CASL), Michelle Silvers (Court House Capital), and Kelly Trenfield (FTI Consulting).

The template can be viewed here, and AALF encourages any parties interested in using this resource to contact them.

Announcements Commercial

International Legal Finance Association Adds Certum to Mark 30 Member Companies

By Harry Moran |

The International Legal Finance Association (ILFA), the only global association of commercial legal finance companies, announced that it has added its 30th member company to the association –Certum Group. 

Certum Group specializes in comprehensive alternative litigation strategies, such as litigation buyout insurance, judgment preservation insurance, litigation funding, class action settlement insurance, adverse judgment insurance, and claim monetization. The Texas-based Certum Group team includes litigation and insurance professionals along with risk mitigation specialists. 

“We are delighted to join ILFA and help it engage with policymakers interested in litigation finance,” said William Marra, a Director at Certum Group who leads the company’s litigation finance efforts. “Funding helps people and companies with strong legal claims get better access to the courts. We are excited to work with IFLA and ensure policymakers continue to encourage rather than restrict companies’ access to commercial legal finance.” 

“We’re delighted that Certum is joining ILFA’s growing membership”, said Rupert Cunningham, ILFA’s Global Director of Growth and Membership Engagement. “Certum already provides a lot of thought leadership on litigation funding and other matters, and they will make a great addition to ILFA’s work to support the sector in the US and globally.” 

About the International Legal Finance Association   

The International Legal Finance Association (ILFA) represents the global commercial legal finance community, and its mission is to engage, educate and influence legislative, regulatory and judicial landscapes as the voice of the commercial legal finance industry. It is the only global association of commercial legal finance companies and is an independent, non-profit trade association promoting the highest standards of operation and service for the commercial legal finance sector. ILFA has local chapter representation around the world. 

For more information, visit www.ilfa.com and find us on LinkedIn and X @ILFA_Official.