All posts tagged: legal tech

Clio’s 0M milestone arrives just as Anthropic ups the ante

Clio’s $500M milestone arrives just as Anthropic ups the ante

Published by skeptic

While AI is now being applied to everything from healthcare to customer support, no single use case has yet been nearly as popular or lucrative as code writing. Jack Newton, co-founder and CEO of Clio, a Canadian law firm management software company, is convinced that legal tech is poised to be the next big winner of the LLMs era. That’s a self-interested claim — 18-year-old Clio is a legal tech company — but the numbers are hard to dismiss. Clio saw its revenue growth accelerate sharply after integrating AI into its offering in 2023. The company surpassed $200 million in annual recurring revenue (ARR) in mid-2024, doubled that figure by late last year, and just announced that its ARR reached $500 million. “LLMs are so excellent for coding because all the existing code in the world is a huge repository to train on,” Newton said. “The analogy to legal is really clear.” Law firms hold massive corpuses of contracts and agreements, providing a rich basis of text-based data for AI models to learn from. “Tech companies …

Legal AI startup Legora hits .6B valuation and its battle with Harvey just got hotter

Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter

Published by skeptic

Nvidia has laid a new brick in its AI empire. NVentures, its corporate VC fund, has backed Legora, reportedly its first legal AI investment. Leveraging AI to help lawyers streamline their work, the Swedish-born legal tech startup is competing with U.S. player Harvey. Alongside Atlassian and other new financial investors, NVentures joined Legora’s cap table as part of a $50 million Series D extension that comes a month after the startup’s $550 million Series D.  In the interval, this Y Combinator alum crossed $100 million in annual recurring revenue (ARR) — a milestone that contributed to its new $5.6 billion post-money valuation.  This brings Legora’s valuation just a tad closer to Harvey’s, which reached $11 billion last month when Sequoia tripled down on its investment. Andreessen Horowitz, Coatue, Conviction Partners, Elad Gil, Matt Miller’s Evantic, and Kleiner Perkins also participated in that round. Legora, too, is backed by high-profile VCs, but it puts even more emphasis on the big names it secured as clients, such as Bird & Bird, Cleary Gottlieb, and Linklaters. According to …

The 10 top government, legal startups from Disrupt Startup Battlefield

The 10 top government, legal startups from Disrupt Startup Battlefield

Published by skeptic

Every year, TechCrunch’s Startup Battlefield pitch contest draws thousands of applicants. We whittle those applications down to the top 200 contenders, and of them, the top 20 compete on the big stage to become the winner, taking home the Startup Battlefield Cup and a cash prize of $100,000. But the remaining 180 startups all blew us away as well in their respective categories and compete in their own pitch competition. Here is the full list of the government and legal Startup Battlefield 200 selectees, along with a note on why they landed in the competition.  Aparti What it does: Uses AI to automate legal intake forms, as well as other documents, for family law firms. Why it’s noteworthy: It specializes in, at the moment, divorce cases, which means it is tackling an issue not commonly addressed by the current wave of AI legal tech. Ascender What it does: Ascender has created a robot that can climb utility poles and flagpoles to help assist with humanitarian assistance and disaster response. Why it’s noteworthy: Part of the wave of robotic technology that is emerging to help better address …