Leya, a pioneer in AI-driven legal technology, announced the successful closing of a $25 million Series A funding round. This funding round was led by Redpoint Ventures, with participation from existing investors Benchmark, Y Combinator, and Wayfinder Ventures and the new addition of Alt Capital.
Leya was launched on the belief that lawyers should be freed from manual, repetitive tasks to focus on impactful, strategic work. And by utilizing cutting-edge AI, Leya makes lawyers more productive while delivering higher-quality results. This goal has driven the company from its inception in a student dormitory, through initial explorations of BERT models for Swedish legal sources, to its current status as a leader in legal tech innovation.
Leya’s platform integrates seamlessly with law firms’ documents, playbooks, templates, and external legal sources. And it assists lawyers with specific tasks related to reviewing, searching, and drafting like filling in transaction checklists, creating key terms reports, and writing memos to name a few. And by providing intelligent support, Leya enables legal professionals to handle legal work quickly and efficiently.
This new funding round will accelerate Leya’s product development and growth, as seen by its recent entry into the UK with its announcement with Bird & Bird and their collaboration with legal data provider FromCounsel.
KEY QUOTES:
“Our journey has been fueled 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.”
– Max Junestrand, co-founder of Leya
“The pace at which Leya is adding features and scaling is incredible. Max and the team have done a fantastic job making the product easy-to-use and valuable for lawyers across different parts of their work. AI is going to change the legal industry and we think Leya has the right combination of team, product and vision to drive that change.”
– Jacob Effron, Partner at Redpoint Ventures
“Leya is enabling legal professionals across industries to leverage the latest innovations in AI to serve their clients better and improve productivity. The customer reception for Leya has been outstanding with enterprises and law firms of all sizes adopting Leya as a core part of getting their legal work done.”
– Chetan Puttagunta, General Partner at Benchmark
