Source: Business Wire
Noetica AI, an AI-powered software platform for benchmarking deal terms, announced $22 million in Series A funding as it continues to deliver best-in-class capital markets insights to top law firms and financial institutions. The round was led by Lightspeed Venture Partners, with participation from Thompson Reuters Ventures, Bling Capital, Flybridge Capital, Company Ventures, and TheLegalTech Fund.
Over the past year alone, Noetica’s platform has been used to benchmark terms in over $350 billion of capital markets transactions, with professionals utilizing its proprietary database of more than 100 million aggregated, analyzed, and indexed terms nearly daily. In less than a year and a half since launch, Noetica has quickly become one of the most relied on data sources for deal data across the market, including working with 10 of the top 25 law firms, among others.
“We’ve never seen a market-data platform become an industry leader this quickly. Noetica’s specialized modeling and data-driven approach makes the platform extremely valuable to the highest caliber deal professionals: it’s why their adoption has been so fast among marquee firms,” said Justin Overdorff, Partner at Lightspeed Venture Partners. “The massive volume of capital markets transactions Noetica already affects is a testament to the power of what they’ve built and the value of the data they serve to key players in the capital markets ecosystem—so much so that firms immediately realize they’re at an information disadvantage without access to Noetica’s data.”
“Data and insights in capital markets deals are critical for understanding market terms and driving tangible value for market participants,” said Dan Wertman, CEO of Noetica AI. “We’re proud that in such a short time-frame Noetica’s platform has become one of the most relied upon data sources for capital markets terms, with the world’s pre-eminent firms leveraging Noetica’s capabilities on their most important transactions.”
Read the full article: https://www.businesswire.com/news/home/20241010333967/en/Noetica-AI-Announces-22M-in-Series-A-Funding-to-Expand-Its-Market-Leading-Deal-Term-Data-Analytics-Platform-for-Law-Firms-and-Financial-Institutions
