Theo Ai, a AI-driven prediction platform for litigation, announced it has raised a $4.2 million seed round just six months after its $2.2 million pre-seed announcement in November. The funding round was co-led by returning investor NextView Ventures and new investor Collide Capital.
The funding round also marks a major expansion of Theo Ai’s leadership team with the appointment of Jay Mandal as Chief Product Officer. As a Stanford Law Lecturer and former COO at SAP, Mandal brings deep expertise in AI, enterprise technology, and legal innovation. And he previously was the head M&A attorney at Apple and founded a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as Head of Partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Rob brings deep expertise across portfolio, single-case, and corporate monetization strategies. He most recently created REMO Litigation Finance and served as SVP at Burford Capital.
Theo Ai’s seed round saw participation from all pre-seed investors, including nvp capital, Ripple Ventures, and Beat Ventures. Plus, the round also welcomed new investors Four Acres Capital and a distinguished group of angel investors from across legal, finance, and technology:
— David Fox (Kirkland & Ellis)
— Bo Berluti (RTP Global)
— Ramesh Dhanaraj (ex-Fortress Investment Group)
— Vivek Nasta (ex-Thomson Reuters)
— Akash Garg (ex-Uber)
— Art Calcagnini (ex-UBS)
Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently collaborating with Mustang Litigation Funding and has rapidly expanded into serving Big Law and in-house legal teams. The strong market demand led to an oversubscribed seed round, reinforcing confidence in Theo Ai’s technology and vision.
What the funding will be used for: The funds will be used to expand proprietary data pipelines, enhance legal corpus, and reinforce supervised learning with legal experts. Theo Ai will use the new funding to advance product development, focusing on its AI-powered settlement prediction tools tailored for Big Law firms and General Counsels. And the company is committed to building firm-specific prediction engines that leverage case history and proprietary data to provide actionable insights across a wider array of legal scenarios. And with this latest funding, Theo Ai is poised to drive the future of AI-powered legal decision-making, delivering cutting-edge predictive solutions for the legal industry.
Board member: As part of the investment, Aaron Samuels, Founder and Managing Partner at Collide Capital, will join Theo Ai’s board.
KEY QUOTES:
“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making. With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”
Patrick Ip, Co-founder and CEO of Theo Ai
“The leadership team within Theo Ai continues to demonstrate a deep understanding of customer needs and the way advanced technology can reshape the legal field for decades to come. This round came together very quickly because customers are rapidly adopting what they see as a uniquely valuable solution.”
Rob Go, Co-Founder and Partner at NextView
“Theo Ai is transforming the way legal teams predict and manage settlements, and we are excited to back their next phase of growth. Having crossed paths with Patrick early in our respective founder journeys, it’s incredible to now collaborate in building the future of AI-driven legal intelligence.”
Aaron Samuels, Founder and Managing Partner at Collide Capital
