Justpoint, a NYC-based startup that uses artificial intelligence for analysis of individual medical malpractice claims, raised $1m in seed funding.
The round was led by Vivek Garipalli, founder and CEO of Clover Health, with participation from Amino Capital, Whoa Ventures and Harry Langenberg of Optima Tax Relief.
The company intends to use the funds to hire engineers and designers, as well as expand customer acquisition channels, customer support, and develop partnerships with medical malpractice insurance companies and self-insured hospitals.
Led by Victor Bornstein, CEO, Justpoint is an AI-first medical malpractice company offering consumers and law firms a way of understanding the legal merits of a claim as well as an instant prediction of the likely settlement amount.
Justpoint is redesigning the medical malpractice litigation process by allowing plaintiffs that have legitimate claims to identify and retain the best attorney for their case, even if their claim would have been previously dismissed by attorneys who considered its value too low, and by quickly identifying claims that don’t have legal merits to decrease frivolous lawsuits against healthcare providers and insurers.
With this technology, plaintiffs will be able to understand how each law firm performs for their specific type of claim. Additionally, Justpoint connects the two parties—helping plaintiffs find the best lawyer for their case, and helping law firms quickly find cases with merit.
To build these machine learning models, the company created a database of over 300,000 historic and active claims to decipher the medical merits of a claim and improve the efficiency and transparency of the system. By introducing technology to this typically manual process, the company is analyzing over 900 plaintiff law firms’ performance in a scalable manner and increasing attorney’s efficiencies by helping them focus on cases with merit.