Leya has raised $25m in a Series A funding round. It’s one of a number of legal genAI-based startups recently to secure significant funding, from Harvey to LegalFly to Hebbia. Plus, Leya only launched last year..!
The round was led by Redpoint Ventures, with participation from existing investors Benchmark, Y Combinator, and Wayfinder Ventures, with the new addition of Alt Capital.
Leya’s platform integrates with law firms’ documents, playbooks, templates, and external legal sources. It assists lawyers with specific tasks related to reviewing, searching, and drafting, such as filling in transaction checklists, creating key terms reports, and writing memos, for example.
The Stockholm, Sweden-based company said the new funding will accelerate its product development and growth, ‘as seen by its recent entry into the UK with its announcement with Bird & Bird [ of a major POC ] and their collaboration with legal data provider FromCounsel’.
Max Junestrand, CEO, said: ‘Our journey has been fuelled by a relentless obsession with enhancing legal productivity. From our early days at Mannheimer Swartling, to our trips to San Francisco, we’ve been driven by a vision of a more delightful, AI-powered way of working in legal. This funding will allow us to accelerate even faster, as it comes off the back of our previous round just two months ago.’
As noted previously by this site, the growth levels for genAI startups seems to run counter to earlier patterns of growth for many legal tech startups. However, VC willingness to support companies that investors see as leveraging genAI to carve out legal tech market share are seeing them winning significant backing.
Congrats to Leya on the raise.
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Legal Innovators UK – and if you found this of interest, then come along to Legal Innovators UK, in London, November 6 and 7, where Leya and many other pioneering legal tech companies will be taking part across the two-day landmark innovation conference.