Source: PR Newswire
Patlytics, the AI-powered patent workflow platform, announced significant company growth, including commercial traction from AM100 firms and global enterprise customers, new product upgrades, and additional funding led by Myriad Venture Partners. Following a successful $4.5 million seed round in April, the company has seen a 20x increase in ARR and an 18x expansion in its customer base in just six months, with a sustained 300% month-over-month growth rate. This momentum underscores Patlytics’ leadership in transforming the patent intelligence landscape.
“We’re in a pivotal moment where businesses are strategically evaluating how AI can transform their IP processes,” says Paul Lee, founder and CEO of Patlytics. “Many solutions claim to be AI-driven for IP, but lack the depth to analyze an entire patent portfolio or handle the complex comparative analysis that IP workflows demand. At Patlytics, we excel at filling this gap — with expertise and trust.”
As traditional barriers between IP rights break down and enterprises seek stronger safeguards for their innovation and products, GenAI is propelling the IP and patent industry forward with growth projected to reach $31.3 billion by 2032. This market strength is driven by the increased need for patent management solutions to streamline workflows, enhance decision-making and IP protections (defense and offense), and reduce costs for law firms and enterprises alike. The platform’s state-of-the-art patent intelligence utilizes advanced large language models (LLMs) and GenAI-powered techniques to increase efficiency in patent drafting and generation, claim charts, infringement detection, and portfolio management by 80 percent.
“What the IP industry needs is a shorter path to our most valuable assets. More assets, fewer resources, and more pressure on patents make developing and qualifying those most valuable patents more important —and more challenging—than ever. Patlytics finds that shorter path,” says Kent Richardson, Partner at Richardson Oliver.
Read the full article: https://www.prnewswire.com/news-releases/patlytics-announces-new-company-momentum-for-its-genai-powered-patent-intelligence-platform-302309167.html
