Covenant —With Covenant, private market investors are radically smarter

At Covenant, we envision a future where advanced artificial intelligence seamlessly integrates with deep legal expertise to transform the legal services landscape for private market investors. Our mission is to deliver sophisticated, AI-native legal solutions that dramatically reduce costs, accelerate transaction speed, and unlock unprecedented data insights while upholding the highest standards of security and privacy.

We are building a pioneering hybrid model that embeds cutting-edge AI directly within a trusted law firm framework, ensuring every AI output benefits from expert human verification. By combining multi-model AI review with rigorous data protection, we empower our clients with reliable, transparent, and efficient legal tools designed for the complexities of alternative investments.

Driven by innovation and integrity, Covenant is advancing the future of legal technology to redefine what is possible in legal due diligence and contract management, positioning us at the forefront of a data-driven and secure legal era.

We've been tracking Covenant since their launch, and honestly, they've got us pretty intrigued. This isn't just another legal tech startup throwing AI at everything—it's a law firm that's genuinely rebuilt itself from the ground up around artificial intelligence.

What caught our attention first were the founders: Jen Berrent (WeWork's former COO/CLO) and Richard Perris (ex-CVC General Counsel). These aren't tech bros trying to "disrupt" law—they're seasoned legal veterans who actually understand the pain points they're solving.

The Smart Hybrid Play

Here's where Covenant gets clever: they're not trying to replace lawyers with robots. Instead, they use multi-model AI to handle the grunt work—reviewing LPAs, NDAs, and MFN clauses—then have experienced attorneys verify everything before it reaches clients.

We love this approach because it sidesteps the biggest AI criticism in legal: "What if it hallucinates?" By having humans in the loop, they get the speed benefits of AI without sacrificing the reliability that institutional investors demand.

Privacy That Actually Matters

The zero data retention policy impressed us more than we expected. In an industry where one leaked document could sink a fund, Covenant doesn't train their models on client data and maintains SOC 2 Type II certification. For endowments and sovereign wealth funds handling sensitive deals, this isn't just nice-to-have—it's table stakes.

Their interactive dashboard centralizes everything beautifully, making it easy to compare drafts and leverage historical data for strategic decisions. No more hunting through email chains for that one clause revision.

Who This Really Works For

Covenant laser-focused on private market investors, and it shows. They're not trying to be everything to everyone—just the best solution for sophisticated institutional clients who need both speed and accuracy in legal due diligence.

The $4 million seed round from Flybridge Capital suggests investors see real potential here. Since launching in early 2024, they've attracted top-tier institutional clients who are notoriously picky about their legal partners. That's no small feat in a relationship-driven industry like law.