Lex Machina Closes $2M Funding
Lex Machina, a Palo Alto, CA-based provider of intellectual property (IP) litigation data and predictive analytics to leading companies, law firms, consultants and public interest users, has closed a $2m funding.
The round was led by X/Seed Capital, with participation from Costanoa Venture Capital individuals including Naval Ravikant, Jeff Hammerbacher, Eric Goldman, Jean Kovacs, and David Chao.
Spun out of a Stanford University Law School and Computer Science Department project in 2009, and led by CEO Josh Becker, Lex Machina brings big data to companies to anticipate, manage, and win patent and other IP law suits. Its core IP litigation data includes 130,000+ District Court patent, copyright, trademark and antitrust cases, filed from the year 2000 to today. These cases include 6,000,000+ docket entries and access to 4,000,000+ documents.
Lex Machina’s web-based application enables users to run search queries that deliver easy access to the relevant docket entries and documents. It also generates lists that can be downloaded and a daily patent litigation update email, which provides links to all new patent cases and filings.
The company intends to use the funding to expand its products and team.
In conjunction with the funding, Robert Siegel, X/Seed Capital General Partner, and Jeff Thermond, X/Seed Entrepreneur in Residence, have joined Lex Machina’s board.