SOPIOA Startup that uses AI to collect and analyze data for legal teams, has collected 60 million in funding rounds led by Safire Vancutors with the participation of May Field and Thomson Reuters Ventures.
Co -founder and CEO Jerry Chow told Tech Crunch, that the new capital, which will raise the total amount of SPI to $ 91 million, will be extended to the efforts of the development, services and the market. Spio plans to expand its Seattle Headquarters and open a new office as it has almost doubled its 100 of its staff.
Sopo AI is one of the many startups seeking consumers and mind -making in the Legal Techspace. While there is Doubts Regarding that AI can do some legal work, law firms have competitive pressure to accept it – lest they fall behind. According to A surveyIn the legal profession, the adoption of AI in 2023 increased from 11 % to about 30 % in Trip 2024.
After the tax compliance software firm Olara’s childhood friend and a fellow worker, Zhou and Kyle Lam, the idea has come to the idea that they left Olara to build their own business. Zhou says he saw the opportunity to change “how people work with documents”.
“Every day, lawyers and para -leagues, thousands of hours manually review medical records, police reports and expert opinion,” said Zhou. “Spio’s primary products work to these users by giving them a deep understanding of their complex, non -imposed data.”
Spio, which is focused on personal injury law, offers an AI -powered platform that is linked to the current file system of law firms to assist in case management. Zhou claims that ESPO AI-introduced errors employed “human verification” to deal with the introduced errors and to ensure reasonable accuracy.
“We focus deeply on the special (AI) model and quality control in the document and the data layer,” said Zhou. “Our legal AI supports more than 114 cases and that number is increasing with our customers.”
Taxkarnch event
Berkeley, ca
|
June 5 June
The book right now
According to Zhou, a successful year of SoPo has been spent. The annual repeated revenue has increased by 4X, as is the size of the customer base of SPI. The company’s clients now include Hughes and Colomin, Daniel Starc, Thomas Law Office, Whitley Law, and other personal injuries and widespread Tort Law firms.
To support the expansion of this (and future), SPI recently appointed heads of sales, consumer success, and marketing and advertising.
“The AI ​​has set up an important infection point for the legal industry as a whole,” said Zhou. “In every sub -vertical part of the law, every firm is wondering how they need to earn themselves for the AI ​​era. If Excel changes finance 30 years ago, AI will do the same for legal knowledge workers. “