ILS Raises Seed Round for ProVision Legal Workflow Tool

Intelligent Legal Solutions (ILS), a London‑based legal technology startup focused on automation for investment fund lawyers, has secured a seed funding round led by Chicago Ventures. The fresh capital brings ILS’s total funding to more than $3 million and will support the continued development of its ProVision platform into 2026.

Founded in 2024 by former investment funds lawyers Fergus Plant and Jack McCarthy alongside Stefano Benigni, ILS was born from firsthand experience of the largely manual post‑close workflows that surround private funds. The founders spotted a persistent gap: side letters, most‑favoured‑nation (MFN) processes and negotiated obligations were often tracked across emails and spreadsheets rather than a purpose‑built system.

ProVision aims to centralise these tasks by consolidating side letters into a single system of record and transforming negotiated terms into structured, searchable obligations and elections. For MFN workflows, the platform automates election forms and keeps an auditable trail of selections, helping teams reduce manual work and the risk of oversights.

The platform also incorporates AI features to enhance search and extraction of contractual terms, while meeting SOC 2 Type 2 and GDPR standards to address security and privacy expectations in regulated environments. Since launch, ILS says more than ten of the world’s largest law firms have adopted ProVision; the product has processed over 5,000 side letters across 450+ matters and supported upwards of $150 billion in fundraises.

With seed backing from Chicago Ventures and others, ILS plans to accelerate its product roadmap for 2026, expand integrations and continue refining AI capabilities to further reduce manual tracking for fund legal teams. For legal ops professionals juggling complex, document‑heavy workflows, ProVision looks set to offer a more structured, auditable alternative to spreadsheets and email chains.