Theo Ai, the first predictive AI platform for litigation, announced $2.2 million in pre-seed funding. NextView and NVP Capital co-led the round, which also included Ripple Ventures, Beat Ventures, and SCVC Fund.
Utilizing a proprietary data model and prediction engine, Theo Ai helps legal professionals make educated decisions about cases’ likely outcomes. This funding round will be used to further enhance the prediction engine, expand practice categories, and accelerate customer growth.
With 275,000+ new lawsuits filed each day, the legal industry must choose which cases to take. The average mid-sized firm reviews roughly 650 cases per year, which can take 7 to 30 days to manually review.
Theo Ai compressed that time into seconds, allowing legal teams to cover more ground and focus on winning cases. Headed by Alex Alben (UCLA Law Professor and Tech Executive), Patrick Ip (ex-Google and UCLA Law MLS) and Tiago Luchini (4x CTO/Founder), Theo Ai is the first predictive tool to leverage the power of AI fully. Theo Ai enables customers to identify and predict cases with the highest odds of success, uncover cases they might have missed, and access case summaries and key financial drivers all in a single offering.
Accurately predicting a case’s outcome is a major game-changer for legal professionals. By analyzing similar cases and likely arguments, Theo Ai’s data model estimates the probability of winning a case and predicts the estimated award. Early users of Theo Ai found that the platform’s algorithms verified the results of their underwriting and due diligence teams. With Theo Ai, firms can access a data-driven pipeline using real-time analytics and predictive modeling as new facts and evidence emerge.
KEY QUOTES:
“With backgrounds in both law and tech, Theo Ai’s leadership team understands the complexities legal firms face and how to leverage advanced technology to address those challenges. Their experience allows them to build a platform that addresses the needs of the everyday economy and truly reflects the nuances of legal decision-making, giving customers a significant edge in strategy and case outcomes.”
– Co-Founder and Partner at NextView Rob Go
“The legal industry is undergoing significant change and this technology will accelerate the drive towards efficiency and prediction analysis. Theo Ai is perfectly timed to address the increasing demand for next-gen B2B tools. With a stellar team that has decades of expertise in both law and tech, Theo Ai is delivering the right solution when firms need it.”
– Dan Borok, Managing Partner at nvp
“When the Ripple Ventures team first met the Theo Ai team, it was clear they had a deep understanding of customer workflows and pain points, rooted in their extensive legal expertise. Their vision for transforming the legacy legal industry with AI, combined with a proven track record as repeat founders, gave us strong confidence in their ability to execute.”
– Dom Lau, Partner at Ripple Ventures
