Crosby, a legal startup recently funded with $5.8 million from Sequoia, is transforming the legal sector into a law firm that uses AI to deliver legal services at high speeds. The firm focuses on contract-review services for startups, claiming its AI platform can analyse contracts in under an hour to achieve even quicker turnaround times.
Co-founders Ryan Daniels, a lawyer with experience in tech firms, and John Sarihan, an experienced software engineer, Emphasise that true transformation in the legal field requires managing the entire legal process.
Since its soft launch in January, Crosby has reviewed over 1,000 contracts for various startups. The seed funding round attracted interest due to the founders’ connections and the significant opportunity in the $300 billion legal industry.
Sequoia’s Josephine Chen highlights the challenges of contract negotiations as a barrier to growth, underlining the potential of AI in legal work.
Source: TechCrunch
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