Founded in 2018 by Will Pearce and Ed Boulle, Orbital Witness is a London-based company at the forefront of using advanced AI and natural language processing techniques to assist lawyers and property professionals in managing their due diligence tasks. By harnessing the capabilities of generative AI and natural language processing, the platform can automatically identify data and documents from public sources like the Land Registry and Local Authorities. This automated system enables the analysis of key documents such as leases and deeds, which often span hundreds of pages, in a matter of seconds. Consequently, users gain an instant overview of any potential issues, risks, or unique aspects that may impact a property transaction.
The legal community has eagerly embraced this transformative technology, with over 2,000 property lawyers and real estate professionals already utilizing Orbital Witness. The platform boasts an impressive clientele, including prestigious law firms such as Tesla, Mischon de Reya, Freshfields, Slaughter & May, and M&S, as well as in-house teams within major property developers and insurers. These clients recognize the value of leveraging AI and machine learning to streamline their processes and ensure efficient and effective investigation.
To further solidify its position in the market and continue its growth trajectory, Orbital Witness recently concluded a successful Series A funding round, raising £7.5 million. The round attracted significant investment from prominent firms, including Parker89, LocalGlobe, Outward VC, Seedcamp, Portfolio Ventures, and Realty Corporation. With this infusion of capital, Orbital Witness aims to expand its current team of 40 professionals and forge strategic partnerships throughout the property market.
By expanding its team, Orbital Witness can enhance its research and development efforts, ensuring that its platform remains at the forefront of technological advancements in the legal industry. This will enable the company to continuously refine and optimize its AI capabilities, empowering users with even more accurate and comprehensive insights during the proper investigation process.
Additionally, with the support of strategic partnerships, Orbital Witness can tap into a wider network of resources and expertise, further solidifying its position as a leader in the field.
The implications of Orbital Witness’ technology extend beyond the legal realm. The integration of AI and machine learning into real estate due diligence not only saves time and effort but also reduces the risk of human error. The platform’s ability to swiftly analyze vast amounts of data and documents allows professionals to make more informed decisions regarding property transactions. This not only enhances efficiency but also mitigates potential risks and protects clients’ interests. By automating the identification of issues, risks, and quirks that may arise during a property transaction, Orbital Witness minimizes the likelihood of oversight and oversight and ensures a smoother process overall.
Moreover, Orbital Witness has the potential to democratize access to due diligence tools. Historically, the cost and complexity associated with conducting thorough due diligence limited its accessibility primarily to larger law firms and organizations. However, with the advent of AI-powered platforms like Orbital Witness, the benefits of streamlined due diligence are now available to a wider range of legal professionals and property experts. This inclusivity promotes a more level playing field within the industry, empowering smaller firms and independent lawyers to compete on a more equal footing with their larger counterparts.
Looking ahead, the future of real estate due diligence undoubtedly lies in the seamless integration of advanced technologies. Orbital Witness has paved the way for AI and machine learning to revolutionize the legal industry, particularly in the context of property transactions. As the company continues to grow and refine its platform, it has the potential to become an indispensable tool for professionals across the real estate sector. By automating time-consuming and complex tasks, Orbital Witness empowers lawyers and property experts to focus on higher-value activities, ultimately driving efficiency, reducing costs, and delivering superior outcomes for their clients.
In conclusion, Orbital Witness represents a groundbreaking solution that has disrupted the traditional approach to real estate due diligence. By leveraging the power of generative AI and natural language processing, the platform streamlines the identification and analysis of critical information, enabling lawyers and property professionals to make informed decisions with speed and accuracy. With its recent successful funding round, Orbital Witness is well-positioned to further expand its team and establish strategic partnerships, solidifying its position as a leader in the market. As AI and machine learning continue to shape the legal landscape, Orbital Witness exemplifies the transformative potential of these technologies in enhancing efficiency, reducing risks, and democratizing access to due diligence tools.