Source: Businesswire
Patlytics, the AI-powered patent workflow platform, announced the closing of a $14 million Series A round led by global venture firm Next47. This series brings the company’s total funding to $21 million, raised within a nine-month period. Patlytics’ fundraising success and velocity validates its market demand, and positions the company to lead the seismic shift in AI-driven intellectual property protection and management.
Corporations are increasingly looking to unlock productivity gains across the discovery, analytics, and reporting of intellectual property — from patent prosecution, litigation, and pruning to invention disclosure processes. Patlytics’ advanced large language models (LLMs) and generative AI-powered engine custom-built for IP deliver the global market standard of accuracy, speed, and security — earning trust from Fortune 500 companies, leading Am Law 100 law firms, and enterprise innovators across invention sectors.
“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. Our platform’s ability to deliver efficiency and insights with generative AI is fundamentally transforming the patent lifecycle. Today’s investment will help Patlytics grow our best-in-class team, deploy new product enhancements, and provide exceptional value to customers on a global scale,” said Paul Lee, CEO and co-founder of Patlytics.
Patlytics welcomes Eric Lin to its leadership team as vice president of strategy to further the company’s next phase of growth. Lin brings over 10 years of experience as an IP litigator at top-tier law firms, including Paul Hastings LLP, Morrison & Foerster LLP, and Baker Botts LLP, and has represented some of the most innovative startup and multinational companies in high-stakes intellectual property and technology-related litigation. In his new leadership appointment, Lin will translate his extensive IP expertise to refine Patlytics’ high-impact product and expand its global presence.
“Patlytics represents a significant step towards improving the efficiency of the patent eco-system. Patlytics can automatically conduct technical discovery, generating detailed claim charts for validity and infringement purposes that would traditionally require expensive experts and countless attorney hours. By generating confidential, detailed, and unbiased analysis, Patlytics’ goal is to ensure that parties involved in patent conflict resolution can have cost-effective access to critical information, helping to minimize gaps and discrepancies in understanding, facilitating negotiations, transactions, settlements, and more efficient litigation,” said Bob Steinberg, Patlytics advisory board member, and former global chair of the IP Litigation Practice and chair of the Patent Trial and Appeal Board (PTAB) Practice at Latham & Watkins LLP.
Read the full article: https://www.businesswire.com/news/home/20250224053849/en/Patlytics-Secures-14-Million-Series-A-Funding-Led-by-Next47
