Patlytics,
an
AI-powered
patent
workflow
platform
founded
just
last
year,
said
today
that
it
has
closed
a
$14
million
Series
A
round,
on
top
of
a
$4.5
million
seed
round
last
April,
bringing
its
total
funding
to
$21
million,
all
within
a
nine-month
span.
This
latest
round
was
led
by
global
venture
firm
Next47,
with
participation
from
existing
investors
including
Google’s
AI-focused
venture
fund
Gradient,
8VC,
Alumni
Ventures,
Liquid
2
Ventures,
and
Myriad
Venture
Partners.
The
company
says
its
fundraising
success
validates
market
demand
for
its
product
“and
positions
the
company
to
lead
the
seismic
shift
in
AI-driven
intellectual
property
protection
and
management.”
“We’ve
entered
a
pivotal
moment
in
legal
tech
where
AI
can
drive
an
immense
amount
of
value,
even
within
the
complex
and
nuanced
realm
of
intellectual
property,”
said
Paul
Lee,
CEO
and
cofounder
of
Patlytics.
“Our
platform’s
ability
to
deliver
efficiency
and
insights
with
generative
AI
is
fundamentally
transforming
the
patent
lifecycle.”
The
company
also
announced
the
hiring
of
lawyer
Eric
Lin
as
vice
president
of
strategy
to
further
the
company’s
next
phase
of
growth.
Lin
has
been
an
IP
litigator
since
2014,
most
recently
at
the
law
firm
Paul
Hastings,
and
previously
at
Morrison
&
Foerster
and
Baker
Botts.
Patlytics’
product
enables
AI-assisted
patent
application
drafting
and
provides
tools
for
identifying
infringement,
generating
claim
charts,
and
patent
pruning
by
identifying
high-
and
low-potential
assets.
“Patlytics’
cutting-edge
AI
is
revolutionizing
how
patents
are
drafted,
analyzed,
protected,
and
monetized,
as
evidenced
by
their
enterprise
customers
and
end-to-end
platform
approach,”
said
Matthew
Cowan,
general
partner
at
Next47.
“Patlytics’
benchmark
of
velocity
is
unmatched
—
and
the
team
has
harnessed
this
momentum
to
deliver
secure,
comprehensive
AI
outcomes
on
par
with
patent
professionals.
The
company
says
it
has
seen
an
18x
expansion
in
its
customer
base
within
six
months,
with
notable
customers
including
Quinn
Emanuel,
Koch
Disruptive
Technologies,
Google,
Xerox,
Abnormal
Security,
Richardson
Oliver
Law
Group,
Young
Basile,
and
Reichman
Jorgensen
Lehman
&
Feldberg
LLP.