The tech industry talks a lot about how AI is going to change work. Legal beginning CrossbyWhich has just come out of the stealth with a $ 5.8 million seed round, led by Sequrea, is probably the most precedent of what we have seen to date.
Crosby is not just making AI software for lawyers – though it is doing it. Crosby is an original legal firm that uses AI to provide legal services at a speed that has never been possible.
Instead of selling a tech to the lawyers, Krusbie hired the lawyers who use its internally manufactured AI software. It sells contract reviewing legal services, mostly up to Startups. The company is currently promising that its AI software, with human surveillance, may review the new client’s contract in less than an hour. According to its co -founder CTO John Sirihan, who used to talk to Tech Crunch, and hope to come down even faster.
Crosby’s co -founder and CEO Ryan Daniels himself is a lawyer and is the son of two law professors. He cut his teeth in the cole, one of the largest firms representing the tech industry. He then spent a better part of a decade to work for general advice for startups.
“My last company, where I was the only legal person, increased to about 10 to 100 people, and I found that I was spending most of the time on legal contracts, sales contracts,” said Daniels, citing the consumer contract known as the Master Service Agreement.
The agreement negotiations and legal reviews were such a barrier to the company that “the reason was that we were not growing as fast as we were.”
Today, negotiations of the agreement are a human process with a human being, which may take weeks or months.
Although there are a growing AI’s growing tools that help lawyers accelerate parts of their work, the founders of Krusabie believed that the legal industry was the only way to use AI to actually change the Change, “being the owners of the whole process, forming our own legal firm to end.”
Sirhan, who was an early employee in the ramp, told the Startup world to hire software engineers, while Daniels began hiring lawyers. Today, about 19 people, including the founders, are employed at the startup.
“The innovation here is in the temptation and the people,” Sirihan said.
The co-founders said that the firm had softened in January, and that it had already reviewed more than 1,000 consumer contracts-such as MSA, data processing contracts, and non-inflammatory contracts such as cursors and sales automation startups and uniformed GTMs.
Sequrea’s Josephine Chen and Alfred Lin led the seeds around the seeds with Bin Capital Ventures, in which the Ramp co -founder Eric Gulman and the cream Etiya, co -founder of Opendor and co -founder of the Gul Glattest, co -founder of the Wave, co -founder, co -founder, co -founder, Stearon, co -founder, co -founder of the Wave. Badge goals were led with ventures. SHKLARSKI.
The stars linked to the land to land as an investor for Crosby. Chen knew Sirhan with the ramp. Earlier, she was met by the co -founder of the venue, the beginning of the buying of AI, which she supported and received by the ramp last year.
When the founders raised their views with Chen, he asked the lawyer of Sequreia about the idea, and that the lawyer, Cindy Lee, knows Daniels from his time in Kolle.
“When we think about investment in seeds, Chen said,” For us, it is probably 70 % of the team and 30 % around the market, market dynamics, and the founders have insights. ” Founder team and they were already given to all its contacts before legal work Has a 300 billion dollars The industry was down to disrupt it with Chen Crosby.
“We have seen in our own portfolio (companies), how can even the dialogue contracts be a hindrance to development,” Chen said. Legal, in his view, “Bell’s eye is a matter for the use of LLM.”