Casetext, a Palo Alto, CA-based provider of artificial intelligence-based legal research technology for lawyers, raised $12m in Series B funding.
The round was led by Canvas Ventures with participation from Union Square Ventures, 8VC and Red Sea Ventures.
The company intends to use the funds to further develop the capabilities of its software platform, accelerate team growth, and expand the capabilities of its Case Analysis Research Assistant, its automated research assistant for lawyers.
Founded by CEO Jake Heller, who was joined by COO and general counsel Laura Safdie the following year, Casetext provides artificial intelligence (AI)-based legal research technology for lawyers. CARA uses AI and natural-language technologies to automate key legal research tasks, freeing lawyers to spend time on higher-value work without missing key precedents or decisions.
Powered by the company’s research database, which allows users to access to a library of federal and state law, annotated by expert analysis from attorneys and law firms, CARA algorithmically analyzes every word in a legal brief, executes a search over the entire legal knowledge graph and analyzes every word in the inputted brief to run a statistical topic modeling and rank results automatically, surfacing the most relevant information.
Law firm customers include Quinn Emanuel, Fenwick & West, DLA Piper, Ogletree Deakins and Greenberg Traurig, among others.