New York-based legal time-recording start-up PointOne has raised $16m in a Series A funding round, bringing its total funding to $20m.
The round was led by US-based venture capital firm 8VC, which specialises in technology and bioscience financing, alongside investment companies Bessemer Venture Partners, General Catalyst and Y Combinator, who typically provide seed funding for start-ups.
As well as providing time-recording technology, PointOne says it uses AI to help lawyers with pricing strategies.
Katon Luaces, co-founder & CEO, wrote in a blog: “Beyond time entry, we have built intelligent bill review, outside counsel guidelines compliance and pricing intelligence, because we see timekeeping as the foundation of a much larger data strategy for law firms.”
He said the fresh investment “is about deepening our existing partnerships through new product development” as well as helping the company expand.
PointOne raised $3.5m in a seed funding round in 2024, featuring all the Series A investors as well as West Coast law firm Cooley’s investment fund and a number of other investors.
New York-based PointOne was founded in 2023 by Luaces and CTO Jeremy Ben-Meir, both former Google software engineers. A third founder, Adrian Parlow, joined Legora in December last year as VP of product.
The company has expanded from four people a year ago to “approaching 20”, according to Luaces.
UK legaltech business Avvoka has secured a £14m investment to support the company’s US expansion plans.
Other legaltech startups securing early-stage investment in recent weeks include London-based Avvoka, which provides automated legal drafting tech to law firms and in-house legal departments. Earlier this month, it said UK billionaire couple Mark and Lindy O’Hare had led a £14m investment via their private investment firm Valhalla Ventures.
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