Generative AI Legal Research Startup Paxton AI Secures $6 Million in Seed Funding
Despite investment in legal tech slowing down for much of the year, generative AI-powered platforms are bucking the trend.
September 22, 2023 at 05:43 PM
2 minute read
Investments and Investment Advisory
Paxton AI, a startup that offers a generative artificial intelligence-powered legal research platform with automated document summary and drafting capabilities, announced Friday that it has raised $6 million in a seed funding round led by WVV Capital. Those participating in the round included Kyber Knight, 25Madison, former Citigroup chairman Richard Parsons, and the AI fund from Andrew Ng, a Stanford professor and director of the Stanford AI Lab, among others.
In a blog post announcing the funding, Paxton CEO and co-founder Tanguy Chau and chief technology officer and co-founder Mike Ulin noted that since its platform was unveiled in July, the startup has seen adoption from "early users which span in-house legal teams to large firms."
They added that Paxton intends to leverage the funding to invest in it's "go-to-market" strategy.
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