Source: LegalFly
LegalFly raises €15m in a Series A round led by Notion Capital to further expand its GenAI-driven product to power corporate legal teams and democratise legal services.
LegalFly, a pioneering legal AI platform, today announced it has raised over €15 million in Series A funding led by Notion Capital, with participation from redalpine and Fortino Capital. Founded one year ago, LegalFly has swiftly made its mark on the legal tech industry. This investment comes just eight months after the company’s €2 million Seed round led by redalpine, which saw early participation from industry leaders including Mehdi Ghissassi, Director of Product at Google Deepmind.
LegalFly was founded by a team of former product experts from Tinder — Ruben Miessen, Kasper Verbeeck, Dennis Montégnies and Gregory Vekemans — with a vision to democratise legal services for enterprises. The company has swiftly built momentum in the market with its advanced and intuitive legal AI solutions tailored for law firms and in-house teams, particularly within the finance and insurance sectors. Today, LegalFly counts dozens of leading European law firms and enterprises as customers and has forged strategic partnerships with industry giants such as Slaughter & May and Allianz.
“LegalFly is redefining how legal services are delivered, ensuring they are more accessible within a corporate environment while upholding the highest standards of security and efficiency,” stated Ruben Miessen, CEO of LegalFly. “This investment enables us to scale our operations and innovate further, driving forward the digital transformation in legal services that our clients require globally.
Unique in its approach, LegalFly ensures that sensitive client data never leaves a company’s premises. This is achieved through on-premise anonymisation, where a fine-tuned model secures data before it ever reaches the LLMs. Coupled with an LLM-agnostic platform that selects the best foundational models for each legal scenario, LegalFly increases both product efficacy and security.
The investment will fuel LegalFly’s ambitious growth plan, tripling its current team by year’s end and accelerating feature development. The funding will also support LegalFly’s continued expansion across Europe and enhance its partnerships with leading law firms and enterprises, paving the way for next-generation legal services that are both effective and secure.
“The legal industry is a perfect fit for AI. We have been looking at making an investment in the market for sometime and in LegalFly we are very confident that they will be one of the enduring success stories,” said Jos White, General Partner at Notion Capital. “ The super talented team have a clear vision for the future and have already built a market leading product. The true test of this is the way it’s being received in the market which has been nothing short of amazing after only a year.
Read full article: https://www.legalfly.ai/blog/legalfly-secures-15-million-to-set-security-standard-in-ai-legal-services
