LegalMation – a market leader in Generative AI-driven solutions for high-volume litigation – recently announced it has raised a $15 million Series A financing round led by the venture capital team at Aquiline Capital Partners LP, Aquiline Technology Growth, with continued participation from existing investors Motley Fool Ventures, REV Venture Partners, Key Venture Partners, Quick Set LLC, and Brentwood Investments.
The company has experienced rapid growth in demand for its Generative AI litigation response platform that provides the insurance and legal industries with clear productivity and cost savings. And LegalMation’s proprietary solutions enable legal professionals to respond to lawsuits, discovery requests, and related workflows using the client’s own historical response data. This year, LegalMation’s customers have already leveraged the platform to answer over 1.1 million discovery requests in over 30 state and federal jurisdictions.
Labor shortages and inflationary pressures have boosted the demand for LegalMation’s solutions. And for in-house counsel in particular, automating high-volume litigation and related tasks has become the number one solution to these challenges. Insurance carriers and large enterprises have become LegalMation’s predominant client base as they seek to increase efficiency and find ways to scale at the organizational level as they find ways to apply Generative AI solutions to their operations.
At over $200 billion, the LegalTech and InsurTech markets are increasingly expected to rely on AI and automation solutions in the coming years. And LegalMation is well-positioned to benefit as the litigation and insurance industries transform. The company has become the trusted partner to the nation’s top insurance carriers, large enterprises like Walmart, and numerous law firms such as Sheppard Mullin, Ogletree Deakins, Fisher Phillips, Nelson Mullins, Baker Donelson, and Jackson Lewis.
Through this new funding round, LegalMation will deepen the functionality and breadth of its platform to support the growth of its rapidly evolving customer base. And the new funds will enable LegalMation to devote significant resources to building new end-to-end litigation workflow automation and analytic tools, all focused on resolving disputes faster while improving accuracy, cost, and outcomes for its customers.
KEY QUOTES:
“We are thrilled to partner with Aquiline given their experience and ability to identify disruptive technology platforms across the insurance and legal ecosystems combined with an extensive network across both markets. We already had strong customer relationships with a few of Aquiline’s strategic carrier investors and we look forward to expanding LegalMation’s reach within these markets. The need for AI automation tools to achieve financial goals has never been greater, especially with the macro-economic pressures falling on both large and small enterprises. This investment will allow LegalMation to accelerate its growth and realize our vision of becoming the most impactful technology partner to the insurance and legal industries.”
— James M. Lee, LegalMation’s Co-Founder and Chief Executive Officer
“The AI revolution has the potential to drive exponential productivity gains while allowing greater scalability. The legal and insurance industries are just beginning to adopt transformative technology solutions, having realized the potential to empower their highly skilled talent core. Aquiline has a track record in scaling SaaS companies and has made multiple investments in the LegalTech industry across our family of funds. We are thrilled to partner with LegalMation and believe they are uniquely positioned to supercharge the litigation support process as we know it today.”
— Aquiline’s Dante La Ruffa, Principal
