A leading litigation finance firm is investing circa £2m into AI technology as the company looks to continue its meteoric global growth.
Nera Capital, which has offices in Dublin, Manchester and a newly established presence in The Netherlands, plans to significantly enhance its process optimisation and strengthen data analytics.
The investment is expected to significantly benefit the various law firms across Europe, UK and the US that are currently partnered with the company as it seeks to expedite the legal process and ultimately create greater access to justice.
Director Aisling Byrne highlighted the impact of technology on the company’s future plans: “Our investment in AI shows our commitment towards efficiency and innovation.
“We believe this increase in investment will enhance our entire operations, revolutionising further the way we approach various aspects of our business. By leveraging advanced AI technologies, we aim to further streamline processes, boost efficiency, and drive innovation across the board.
“The decision is a huge step forward, and I am proud of our continued commitment to staying at the forefront of advancement in legal technology.”
Since the company’s inception in 2011, Nera Capital has grown to become a major global player in the world of litigation finance, with operations across several European locations.
The company is a specialised funding provider catering to law firms by extending support across diverse claim portfolios such as financial mis-selling, data breach, Cartel damages, personal injury and Antitrust.
It previously announced the creation of 10 new jobs in key areas including legal, auditing, finance and origination, after opening a new office in Weert, Netherlands.
Aisling added: “I take immense pride in witnessing the remarkable growth of Nera Capital as it expands worldwide.
“In the face of a rapidly evolving world, our industry has often been considered slow to adapt in relative terms. We are determined to break free from that inertia and lead the charge towards meaningful change.
“By embracing cutting-edge AI technology, we have entered a transformative chapter for our firm.
“The fusion of innovation and data-driven insights empowers us to navigate legal landscapes with even greater efficiency, ensuring our partnered law firms receive the swift and insightful solutions they deserve which can hopefully speed up the justice process for those that need it.”
Nera Capital are expected to look at further expansion into new locations in the near future.
