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Pearson Labs recently launched!
"AI Powered Corporate Transactions"
TL;DR — Pearson - AI agents to help law firms and companies execute corporate transactions. They help rainmakers at law firms run gigantic books of businesses with AI.
Founded by Stephanie Young & Qi Yang
Steph got 4 degrees from Stanford including CS+MBA from Stanford in just over 6 years
- Product at Google and Lyft
- Built and sold an AI company. Had to go through M&A diligence which led to Pearson
Qi is MIT PhD, and Meta AI researcher
- Then joined an MIT startup, Themis, to do research in reducing hallucinations in LLMs
Traction
They went to speak with law firms and the result? Within a month they had interest from senior partners at 8 top law firms. And within a month, they had their first design partner, Orrick, a $1b+ revenue law firm, who’s working with them closely to build an AI data room for their 5000 clients.
Unique Insight
You may think that younger partners / firms would be the most excited about using AI. But actually, it’s the rainmakers, the heads of their practice groups, who are excited about AI to help them increase their book of business, the only metric that really matters in law firm life. So they go after the biggest partners at the biggest law firms in the world and win, just like they did with Orrick in less than a month.
- Clients
- Are increasingly unhappy with law firms charging them $1500-2000 an hour
- Refuse to talk to their law firms out of fear of being charged thousands of dollars for a single question
- Increasingly rotate work between several law firms leaving law firms out of the loop
- Law Firms
- Hourly rates increase every year and yet clients are asking in reduction in prices
- Have to write off hours and slash rates in order to win and retain clients
- Many corporate transactions are done at a loss to the law firm in order to win relationships and future business
Pearson AI: Built around corporate documents + agents for different transactions
Non-Transactional Tools
This eliminates the need for a client to spend thousands of dollars for a law firm to answer basic questions and solves a series of other problems including investor rights, board meetings and consents.
Transactional Tools
What you see below is their agent executing a M&A due diligence. This would normally have taken an associate days to weeks to do manually and would still have mistakes but Pearson can perform the task in a few hours.
The Ask
If you are a:
- Founder / general counsel at a tech company: please reach out so they can dramatically cut your corporate legal bill
- Law firm partner: use AI to scale yourself and your book of business
- How do you service your existing book of business with less busy work
- Or service a bigger book of business with the same amount of effort
Learn More
