Tradespace, an AI-native intellectual property platform, has raised $15 million in Series A funding led by AVP, with participation from existing investors Eniac Ventures, Amplo VC, and Scrum Ventures.
The company says the funding will be used to scale its end-to-end IP management platform, which is designed to help enterprises move more of the patent lifecycle in-house, reduce reliance on outside counsel, and accelerate filing timelines.
Tradespace is positioning the round as a response to rising law-firm drafting and prosecution costs and the growing pressure on in-house IP teams to support faster innovation cycles without expanding budgets. The company says its software integrates AI into R&D and IP workflows to streamline invention harvesting, prior art search, patent drafting, office action responses, and licensing efforts, while keeping attorneys in the loop to maintain legal rigor.
The company claims customers are seeing meaningful operational and economic impact, including a 50% reduction in outside counsel spend, a 40% increase in invention disclosures from R&D teams, and time-to-file compressing from weeks to days. Tradespace also says it already manages more than 440,000 patents for over 80 organizations, including Fortune 500 companies and a large share of top U.S. research universities.
The Series A follows Tradespace’s acquisition of Paragon Patents in November 2025, which the company says strengthened its technical position in agentic workflows and AI-driven patent drafting. With new funding, Tradespace aims to expand adoption among enterprise IP organizations seeking to treat patent development and management more like a software-driven internal capability than a services-led process.
KEY QUOTES
“The traditional IP law firm model is broken. In house IP teams are being asked to support faster innovation cycles without increasing costs, despite law firm fees for drafting and prosecution reaching record levels. Today, Tradespace is dismantling that model and will continue to innovate in the IP Law sector thanks to the support and confidence of the financial partners behind this Series A funding round.”
Alec Sorensen, CEO and Co-Founder, Tradespace
“The billable hour acts as a tax on innovation, forcing companies to decide which ideas to protect based on budget rather than merit. Even when law firms have moved to fixed fees, companies have had to pay in other ways, whether in increased costs on the backend for prosecution or lower speed and quality. Our platform allows IP teams to recapture their budget and operate with the speed of a software company, not a law firm.”
Alec Sorensen, CEO and Co-Founder, Tradespace
“In-house teams are tired of the administrative trap. They want to be strategic architects, not invoice approvers. Tradespace is the first company to successfully close the gap between software and legal services, giving corporations ownership of the entire process. We believe this platform will become the standard operating system for the Global 2000.”
Manish Agarwal, General Partner, AVP
