SupioA Startup That Uses Ai To Automate Data Collection and Analysis for Legal Teams, Has Raised $ 60 Million in a Funding Round LED LED by Samphire Ventures with Participation from Mayfield and Thomson reuters ventures.
The new capital, which brings supio’s total Raised to $ 91 Million, will be put toward growth, hiring, and go-to-market efforts, co-founder and CEO JHO JHOU TOLD THOCRUNCHCH. Supio plans to expand its seattle hq and open a new office as it roughly doubles its 100-face staff.
Supio is one of the many startups vying for customers and mindshare in the ai legaltech space. While there’s skepticism About just just how well ai can perform certain legal tasks, law firms are undergo competition pressure to Embrace it – Lest they risk falling behind. According to One SurveyyAI adoption in the legal profession Nearly tripled from 11% in 2023 to 30% in 2024.
The idea for supio came about after zhou and lam, zhou’s childhood friend and a co-waiter at tax compliace software firm Avalara, Left Avalara to Build Avalara to Buland Their Own Busines. Zhou says that they are an opportunity to “Transform how people work with documents.”
“Every day, attorneys and paralegals spends of Thousands of Hours Manually Reviewing Medical Records, Police Reports, and Expert Opinions,” Zhou Said. “Supio’s Core Product Serves these users by giving them a Deep Understanding of their complex, unstructured data.”
Supio, which focuses on personal injury law, offers an ai-powerred platform that connects to law firms’ existing file systems to assesses to assessment with case management. Zhou claims that supio employees “Human Verification” to Combat AI-Introduced errors and ensure reasonable acc Vin.
“We focus deeply on specialized [AI] Model and Quality Control at the Document and Data Layer, “Zhou said.
Supio has had a successful year, according to zhou. Annual Recurring Revenue has grown 4X, as have the size of supio’s customer base. The company’s clients now include hugs & Coleman, Daniel Stark, Thomas Law Offices, Whitley Law, and other personal injury and mass Tort law firms.
To support this (and future) expansion, supio recently appointed heads of sales, customer success, and marketing and advertising.
“AI has created a Major Inflation Point for the legal industry as a whole,” Zhou said. “Every Firm Across always sub -vertical of law is thought to how they need to reinvent themselves for the ai. Workers. “