Supio, a startup that makes use of AI to automate knowledge assortment and evaluation for authorized groups, has raised $60 million in a funding spherical led by Sapphire Ventures with participation from Mayfield and Thomson Reuters Ventures.
The brand new capital, which brings Supio’s complete raised to $91 million, might be put towards development, hiring, and go-to-market efforts, co-founder and CEO Jerry Zhou informed TechCrunch. Supio plans to broaden its Seattle HQ and open a brand new workplace because it roughly doubles its 100-person employees.
Supio is likely one of the many startups vying for patrons and mindshare within the AI legaltech house. Whereas there’s skepticism about simply how nicely AI can carry out sure authorized duties, legislation corporations are underneath aggressive stress to embrace it — lest they danger falling behind. In response to one survey, AI adoption within the authorized career practically tripled from 11% in 2023 to 30% in 2024.
The concept for Supio took place after Zhou and Lam, Zhou’s childhood pal and a co-worker at tax compliance software program agency Avalara, left Avalara to construct their very own enterprise. Zhou says that they noticed a chance to “rework how folks work with paperwork.”
“Daily, attorneys and paralegals spend hundreds of hours manually reviewing medical information, police experiences, and skilled opinions,” Zhou stated. “Supio’s core product serves these customers by giving them a deep understanding of their advanced, unstructured knowledge.”
Supio, which focuses on private harm legislation, presents an AI-powered platform that connects to legislation corporations’ present file techniques to help with case administration. Zhou claims that Supio employs “human verification” to fight AI-introduced errors and guarantee cheap accuracy.
“We focus deeply on specialised [AI] mannequin and high quality management on the doc and knowledge layer,” Zhou stated. “Our authorized AI helps over 114 case sorts and that quantity is rising in partnership with our prospects.”
Supio has had fairly a profitable 12 months, based on Zhou. Annual recurring income has grown 4x, as has the dimensions of Supio’s buyer base. The corporate’s shoppers now embrace Huges & Coleman, Daniel Stark, Thomas Legislation Places of work, Whitley Legislation, and different private harm and mass tort legislation corporations.
To help this (and future) growth, Supio just lately appointed heads of gross sales, buyer success, and advertising and promoting.
“AI has created a significant inflection level for the authorized business as an entire,” Zhou stated. “Each agency throughout each sub-vertical of legislation is considering how they should reinvent themselves for the AI period. If Excel remodeled finance 30 years in the past, AI will do the identical for authorized data employees.”