Billables AI, an AI-based platform for professional service providers that streamlines operations with its flagship AI-powered timekeeping solution, announced it has raised $3.9 million in seed funding led by Wing VC with participation from F7, SignalFire, Darkmode, Alumni Ventures and AI leaders and industry veterans, including angel investors from Google, Stanford, SambaNova and more. This funding round will go toward investing in advanced ML to further personalize time reports and ultimately build additional productivity tools that help all professional service providers.
Initially focused on the legal industry, Billables AI offers professional service providers much needed time back to focus on the work that really matters by automating everyday operational tasks. And the company enables legal professionals to uncover incremental billable time and reduce the pain points of billing.
Early adopters like Zigler Law Group, Kronenberger Rosenfeld and Rogers Joseph O’Donnell have already seen 15-30% more billable time accurately captured with Billables AI compared to their previous billing methods. Plus, users have reported a 90% reduction in time spent on tedious tasks like writing narratives.
Through integrations with Microsoft 365, Google, Zoom, Adobe and other business software, Billables AI privately and securely captures user activity across different workflows. And as the work is happening, Billables AI generates a complete billable entry that intelligently filters and groups activity, assigns it to the right client and matter, and includes a detailed narrative description.
Over time, these entries are personalized to match each attorney’s unique style and preferences. And the company utilizes security practices to ensure lawyers maintain control over their data at all times.
Billables AI has launched out of stealth in June of this year. And the company was founded by Arvind Sujeeth and Nancy Jeng, who were joined by Laura Maddox as the Founding VP of Engineering. Plus, the team has extensive backgrounds in AI, B2B SaaS product development, and marketing. Sujeeth previously developed enterprise AI platforms at SambaNova Systems, Jeng led global product marketing at Pinterest, and Maddox built conversational AI at Mya Systems.
KEY QUOTES:
“While many AI applications have been focused on automating core legal tasks, we believe there is even more value in tackling the work professionals don’t want to do (and don’t get paid for)—like timekeeping and billing. By eliminating burdensome administrative overhead, legal teams are capturing more billable hours and spending less time on non-billable tasks. We’re excited to bring these benefits to other sectors where similar challenges exist, including agencies and consultants.”
-Arvind Sujeeth, co-founder and CEO of Billables AI
“Billables AI is addressing a clear need in professional services. They’re tackling fundamental operational challenges these firms face on a daily basis by applying AI to timekeeping and billing, which is one of the biggest administrative burdens faced by these firms. This will change how professionals track and manage their most valuable asset — time.”
-Tanay Jaipuria, partner at Wing VC
