Neur.on, a Switzerland-based SaaS translation platform, announced an investment round of CHF 1.6m (USD 1.6m) on August 31, 2022. A spin-off from legal specialist translation provider, Hieronymous, Neur.on targets the legal and finance industries.
The funding round was led by Helbing Lichtenhahn, a legal publisher. Neur.on was also supported by Capital Risque Fribourg, and “seasoned entrepreneurs from around the world with extensive experience in LegalTech, law and finance,” according to a press statement.
Neur.on was first pitched at an investment day of the Swiss ICT Investor Club (SICTIC). Paula Reichenberg, Neur.on founder and CEO, told Slator, “We owe a lot to SICTIC as an angel club — they provided us with advice, structured processes, documentation, and a stage to pitch.”
In selecting a panel, the company chose a number of international investors to “support Neur.on on the strategic level as well,” Reichenberg said.
The panel includes Ajay Patel, founder of legal operations management tool, HighQ, James Sprayregen, partner at US law firm, Kirkland & Ellis, and Francois Reyl, CEO of Geneva-based wealth management firm, Reyl & Cie.
Neur.on was developed through a collaboration among lawyer-linguists, NLP engineers, and the University of Engineering and Architecture of Fribourg. The platform offers custom MT for law firms, legal publishers, and public authorities, as well as what Reichenberg referred to as “NLP microservices.”
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The CEO explained, “We follow an end-to-end approach, from quote generation for lawyers’ end-clients to AI-boosted post-editing. We would describe our solution as a hyper-specialized TMS rather than an NMT tool.”
Starting from its Switzerland base, Neur.on is also planning for regional growth. Reichenberg said that London was high on the list, followed closely by the US. “Successful integration in UK law firms could allow us to hop the pond to the US as early as 2024,” she said.