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Full-Time

Product Counsel

Posted on 6/27/2024

Ontra

Ontra

201-500 employees

AI-powered legal process automation for investment firms

Enterprise Software
AI & Machine Learning
Financial Services
Legal

Compensation Overview

$154k - $216kAnnually

+ Commission

Senior, Expert

Remote in USA

Category
Risk & Compliance
Legal & Compliance
Requirements
  • Juris Doctor degree
  • Admitted to practice law in the United States
  • 5+ years of legal experience
  • Minimum of 3 years counseling on product matters, data privacy, and/or technology transactions
  • 2+ years of BigLaw experience preferred
  • Familiarity with US and international data privacy laws, advertising laws, and consumer protection laws
Responsibilities
  • Advise key business partners on product-lifecycle
  • Establish and implement compliance best practices
  • Provide guidance on product partnerships and integrations
  • Develop and maintain training materials and legal resources

Ontra.ai provides AI-powered solutions designed to automate legal processes specifically for investment firms. The company's software streamlines the intake, negotiation, and execution of routine contracts, such as Non-Disclosure Agreements (NDAs), by leveraging a global network of freelance legal professionals. This automation allows legal teams to concentrate on more strategic tasks rather than routine paperwork. Ontra also offers services to ensure compliance with contract obligations, tailoring its solutions to the unique needs of each client based on their investment strategies. Unlike many competitors, Ontra has a strong focus on the private markets and has gained the trust of over 600 investment firms, including notable clients like Blackstone, which has also invested in the company. The goal of Ontra is to digitally transform legal workflows throughout the entire fund lifecycle, enhancing efficiency and effectiveness for its clients.

Company Stage

Series B

Total Funding

$240M

Headquarters

San Francisco, California

Founded

2014

Growth & Insights
Headcount

6 month growth

0%

1 year growth

3%

2 year growth

11%
Simplify Jobs

Simplify's Take

What believers are saying

  • Ontra's client base includes 9 of the top 10 PEI-ranked firms, indicating strong market validation and growth potential.
  • The recent appointment of experienced leaders like John Lofy and Leslie Olsen suggests a focus on enhancing customer success and marketing strategies.
  • Integration of advanced AI technologies like GPT-4 positions Ontra at the forefront of legal tech innovation, potentially attracting more high-profile clients.

What critics are saying

  • The legal tech market is highly competitive, with numerous players vying for market share, which could impact Ontra's growth.
  • Dependence on freelance legal professionals may pose challenges in maintaining consistent service quality and compliance.

What makes Ontra unique

  • Ontra's AI-powered legal operating system is specifically tailored for private markets, setting it apart from more generalized legal tech solutions.
  • The integration of OpenAI's GPT-4 into Ontra Synapse enhances its AI capabilities, providing a competitive edge in automating complex legal workflows.
  • Ontra's global network of freelance legal professionals allows for scalable and flexible contract management, unlike competitors who rely solely on in-house teams.
INACTIVE