US AI litigation platform start-up Turbo Law has secured $3.8m in a pre-seed funding round.
The financing was led by Turkish technology investment firm Revo Capital, alongside US venture capital firm Treeo VC, early-stage AI fund BridgeX Ventures, and Alchemist Accelerator, a venture backed initiative that focuses on seed-stage funding.
Other unnamed technology and litigation partners also contributed to the round, which is to be placed towards the expansion of its go-to market teams, along with sustaining investment in compliance.
Also, the fresh capital is to be distributed across the firm’s five main engineering pillars, comprising review, drafting, research, strategy and settlement, and an always-on assistant.
Turbo Law is focused on complex litigation, especially on medical malpractice lawsuits and tort cases involving significant lawsuits for harm caused by defective drugs or products, transportation and M&As.
Its suite of AI tools is intended to help lawyers analyse cases, review evidence and prepare court documents.
Jay Sarmaz, co-founder and CEO of Turbo Law, said: “The hardest matters in law run on the thinnest margins of time. Everything a litigation team needs to win is already in the file, on page 8,000 of the record, or line 214 of a deposition."
“Turbo Law reads all of it, cites all of it, and turns it into the work product the matter demands.”
Cenk Bayrakdar, founding partner and managing director of Revo Capital, said that AI is reshaping knowledge-intensive industries, and the legal services are “one of the largest opportunities ahead."
“What impressed us most about Turbo Law is not only the strength of the technology, but the team's deep understanding of defence litigation workflows and their ability to deliver measurable value to customers from day one.
“In a short period of time, they have secured meaningful commercial traction with leading law firms and built a product that addresses a highly complex and underserved segment of the legal market.”
The firm said it’s engaging with 1800 active matters on its platform, and that its clients have witnessed a 60% reduction in non-billable hours per matter, 10% fewer write-offs, plus substantial profits on alternative fee arrangements.
San Francisco-based Turbo Law was founded last year by Sarmaz along with Ozgur Bora Gevrek.
Sarmaz previously co-established legal and healthcare IT services firm EncoreAI labs, where he was chief scientist for three-and-a-half years. During that time he was also vice-president of legaltech company Case Status.
Bora Gevrek was a former software engineer at AI business intelligence platform Entrapeer for a year in his last role before co-creating Turbo Law.
Last month, AI legaltech start-up Crimson raised £2.5m in an oversubscribed seed funding round, as the firm founded by former Willkie Farr & Gallagher associate Mark Feldner announced the launch of its New York office.
US AI-native law firm start-up Moritz also secured $9m in seed financing, where Y Combinator, 20VC, Urban Innovation Fund and Inception Fund participated in the round.
Email your news and story ideas to: [email protected]
