SupioThe startup, which uses artificial intelligence to automate data collection and analysis for legal teams, collected $ 60 million in the financing round of Sapphire Ventures with the participation of Mayfield and Thomson Reuters Ventures.
The recent capital, which will bring the sum of Supio, collected as much as $ 91 million, will be delivered to growth, employment and efforts to the market, co -founder and general director of Jerry Zhou said Techcrunch. Supio plans to expand its headquarters in Seattle and open a recent office because it is more or less double-person staff.
Supio is one of many startups fighting for customers and mindshare in the technical space of AI. While it is skepticism About how well AI can perform certain legal tasks, law firms are under competitive pressure to simply accept it – they do not risk being lagging behind. According to One surveyAI adoption in a legal career almost tripled from 11% in 2023 to 30% in 2024.
The idea for Supio appeared after Zhou and Kyle Lam, a childhood friend Zhou and a collaborator of Avalara, left Avalara to build his own business. Zhou says they saw the opportunity to “transform the way people work with documents.”
“Every day lawyers and assistants spend thousands of hours manually reviewing medical records, police reports and expert opinions,” said Zhou. “The basic Supio product supports these users, providing them with a deep understanding of their complex, unstructured data.”
Supio, which focuses on the law of injury, offers the AI powered platform, which mixes existing office file systems to assist manage matters. Zhou claims that Supio uses “human verification” to combat errors and ensure justified accuracy.
“We focus deeply on specialized [AI] (*60*) and quality control in the document and data layer, “said Zhou.” Our legal artificial intelligence supports over 114 sorts of cases, and this number is growing in cooperation with our clients. “
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According to Zhou, Supio has a fairly successful yr. Annual repetitive revenues increased by 4x, as did the size of the Supio customer base. The company’s customers are now Hughes & Coleman, Daniel Stark, Thomas Law Offices, Whitley Law and other legal firms in the field of injury and massive obvious acts.
To support this (and future) expansion, Supio recently appointed sales bosses, customer success in addition to marketing and promoting.
“AI created the main point of inflection for the entire legal industry,” said Zhou. “Every company from every subordinate law wonders how they have to rediscover into the AI era. If Excel has transformed finances 30 years ago, and will do the same for legal knowledge employees.”