LEVERTON
AI-powered data extraction and contract analytics platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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LEVERTON is a company that developed an AI-driven platform for data extraction and contract analytics, which is now known as MRI Contract Intelligence. Founded in 2012 by a group of scientists including Emilio Matthaei, Florian Kuhlmann, and Reinhard Edelmann, the company's initial goal was to use artificial intelligence to extract legally binding information from corporate documents. The platform was developed to turn unstructured content into structured data using proprietary machine learning algorithms, optical character recognition (OCR), and natural language processing.
The company's primary market is real estate, serving property owners, service providers, and corporate occupiers. Its software is designed to automate the management of documents, with a particular focus on lease abstraction. The technology can extract thousands of data points from documents in up to 25 languages, helping clients comply with global accounting standards like IFRS 16 and ASC 842. By automating data extraction from leases and other legal documents, the platform allows businesses to more efficiently manage revenue and expense streams across their property portfolios. Clients have included JLL, Savills, and Zurich Alternative Asset Management.
In July 2019, LEVERTON was acquired by MRI Software, a global provider of real estate software solutions. Following the acquisition, LEVERTON became a business unit within MRI and was rebranded as MRI Contract Intelligence. The acquisition integrated LEVERTON's AI capabilities into MRI's software suite, aiming to provide enhanced data analytics and business insights to a broader client base. At the time of the acquisition, Abhinav Somani was the CEO of LEVERTON.
Keywords: data extraction, contract analytics, artificial intelligence, real estate technology, proptech, lease abstraction, document management, optical character recognition, machine learning, natural language processing, IFRS 16 compliance, ASC 842 compliance, legal tech, financial technology, automated data entry, contract management, portfolio management, data analytics, MRI Software