Covenant, a New York-based AI law firm tailored for private market investors, announced a $4 million Seed funding round led by Flybridge Capital Partners, with participation from Neil Barsky, a former hedge fund manager. Launched in January 2024, Covenant integrates advanced AI with legal expertise to enhance deal velocity and data insights, delivering high-quality results at a fraction of traditional law firm costs.
Announcement: July 15, 2025
Funding: $4M Seed round led by Flybridge Capital Partners
Leadership: Jen Berrent (CEO, ex-WeWork COO/CLO), Richard Perris (ex-CVC General Counsel)
Clients: Endowments, foundations, sovereign wealth funds
Tools: LPA review, MFN election, fund manager due diligence, NDA mark-ups
Market: $2.6B legal tech market, 44% of legal tasks automatable
Covenant’s platform uses multiple foundational AI models to avoid single-model dependency, ensuring clients benefit from the latest AI advancements. Its SOC 2 Type II certification guarantees robust data privacy with no client data training or retention. “We built a legal solution from the ground up,” said CEO Jen Berrent, emphasizing AI’s speed and cost efficiencies combined with lawyers’ industry expertise. The platform’s LPA review tool delivers summaries in two business days, and its new AI-powered Most Favored Nation (MFN) election tool reduces analysis time from hours to minutes.
Serving top-tier endowments and sovereign wealth funds, Covenant has grown transaction volume by 50% since January 2025, with 45 clients onboarded. Its tools, including fund manager due diligence and NDA mark-ups, address the $2.6 billion legal tech market’s needs, where 44% of tasks are automatable, per Goldman Sachs. Unlike competitors like Harvey, Covenant focuses on private market investors, offering counsel-as-a-service akin to TurboTax’s disruption of tax prep.
“Covenant is redefining legal infrastructure,” said Jesse Middleton of Flybridge, citing Berrent’s proven leadership at WeWork. Flybridge, managing over $1B, specializes in AI-driven startups, with a portfolio including MongoDB and BetterCloud. The funding will fuel Covenant’s expansion and tool development, positioning it to reshape private market legal services.
Covenant is the only AI law firm targeting private market investors. Built by curious lawyers and seasoned technologists, Covenant is reimagining the experience of legal work. With Covenant, clients dramatically reduce fees, increase transaction velocity, and unlock data insights across the investment lifecycle. Covenant's client roster includes leading endowments, foundations, sovereign wealth funds and other global institutional investors. Headquartered in New York, Covenant is led by Jen Berrent (former COO and CLO of WeWork) and Richard Perris (former General Counsel of CVC). The company is backed by Flybridge Capital Partners.
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