Patlytics raises $ 14 million for its patent analysis platform

For decades, patents have been a dispute bone in the world of technology, seen by some as a way of protecting intellectual property, but for critics as a forceful weapon against innovation. In the ai ​​era, they are once again reviewed.

New York Startup <a target="_blank" href="https://www.patlytics.ai/” target=”_blank” rel=”noreferrer noopener nofollow”>Patlytics He has developed a patent analysis platform enabled for ai to help corporations, IP professionals and law firms rationalize their workflows of discovery, analysis, comparison and prosecution patents up to litigation.

The startup backed by Google said on Monday that it had closed $ 14 million in a round of series A directed by Next47 with the participation of existing investors, including Google gradient, 8VC, Alumni Ventures, Liquid 2 Ventures and Myriad Venture Partners . Its financing of series A, which takes its total to $ 21 million, occurred approximately 9 months after its previous seeds in April.

CEO Paul Lee and CTO Arthur Jen co -founded Patlytics in January 2024. The former risk capitalist read that IP companies were using outdated techniques when it came to working with patents: discover, analyze and inform about intellectual property, or Patent construction cases for patent -related works such as possible litigation, all manual efforts require a lot of time. Jen knew the slow first -hand workflow: he was previously responsible for administering the presentation and protection of patents in Magic, a coptographic wallet company that co -founded.

“Patlytics has an interesting genesis because I have no legal experience, and initially I had many erroneous concepts about legal technology,” Lee said in an exclusive interview with TechCrunch. “Historically, there were many negative and local connotations about the sale of technology to lawyers, but IA has really changed these facilities … What we have seen in the IP market is that people want better technology; there are A great impulse for the work of greater value using LLM, and most importantly, patent professionals yearn for quality. “

PATLYTICS LARM) Large Language Models and the ai ​​Motor Generative Motor are built for research related to IP and other works, such as the drafting of patent applications, invention disseminations, disability analysis, detection/ Infraction analysis, standard essential patents (SEPS) Analysis of analysis and management of IP asset portfolio.

The 1 -year startup said it has seen a 20X increase in RAR and an 18x expansion in its customer base in six months, with a sustained growth rate of 300% month to month. Patlytics did not reveal how many customers he has, but said that approximately 50% of his client base are law firms, and the other half are corporate clients of industries such as semiconductors, biography, pharmaceutical products and more. In addition, the company now serves customers in South Korea and Japan, and recently launched its first pilot product in London and Germany.

Its clients include abnormal security, Google, Koch Disruptive Technologies, Quinn Emanuel Urquhart and Sullivan, Richardson Oliver, Reichman Jorgensen Lehman and Feldberg, Xerox and Young Basile.

With the round of series A, the startup plans to climb sales and increase its investments in product development. This includes hiring more engineers and expanding in different modules offered by the company. The startup has doubled its employees, increasing from 11 to meet customer demand since April 2024. Eric Lin, which has more than 10 years of experience as IP litigator in law firms, including Paul Hastings, Morrison & Foerster, and Baker Botts, Will only of company growth.

“Patlyics can automatically make the technical discovery, generating detailed claims for validity and infringe Trial practitioners and patent appeals (PTAB) in Latham & Watkins. “By generating a confidential, detailed and impartial analysis, the objective of Patlytics is to ensure that the parties involved in the resolution of patent conflicts can have profitable access to critical information, helping to minimize gaps and discrepancies in understanding, facilitating negotiations , transactions, settlements and more efficient litigation settlements. “