Parrot, a New York-based provider of a platform for transcribing and managing depositions, raised $11M in Series A funding.
The round, which brought the total amount to $14M, was led by Amplify Partners and XYZ Venture Capital.
The company intends to use the funds to expand go to market initiatives, accelerate product development and deepen its investment in artificial intelligence.
Led by CEO Aaron O’Brien, Parrot is a provider of an AI-powered platform purpose built for the legal and insurance community. It allows attorneys to handle cases efficiently by providing AI-generated, synced deposition transcripts and summaries. It streamlines the deposition process for legal professionals by leveraging proprietary large language models (LLMs) specifically trained on legal and insurance vocabulary to deliver accurate transcripts immediately following a deposition versus the typical days or weeks.
Parrot is currently used by legal firms, insurance carriers and Fortune 500 corporations.
FinSMEs
20/06/2023