The TE Industrynic industry talks a lot about how AI will transform work. Legal startup CrosbyWhich has just come out of stealing with a seed of $ 5.8 million led by Sequoia is perhaps the most extreme example of what we have seen so far.
Crosby not only makes AI program for lawyers – although it does. Crosby is a de facto lawyer using AI to provide legal services quickly never before.
Rather than selling Te Techniko to lawyers, Crosby hired lawyers who use their internal developed AI program. It sells contract reviews legal services, mostly to startups. The company currently promises that its AI software, with human supervisors, can review a new customer contract in less than an hour. And it hopes to reduce this even faster to just minutes, according to its co-founder CTO John Sarihan, who spoke with Techcrunch.
Ryan Daniels, the co -founder and general manager of Crosby, is a lawyer himself and the son of two law teachers. He cut his teeth at Cooley, one of the largest companies representing the TE Industry Industry. He then spent the better part of a decade doing general advisory work for startups.
“My last company, where I was the only legal person, grew up from about 10 to 100 people, and I found that I most often spent legal, were for our contracts, sales agreements, [and] MSAs, “Daniels said, referring to the part of a customer contract known as a master service.
Contract negotiations and legal review were such a bottle at the company that they were the “reason why we didn’t grow as fast as we wanted.”
Today contract negotiation remains a human-to-human process that can take weeks or months.
Although there are a growing number of AIs that help lawyers speed up parts of their work, Crosby’s founders believed that the only way to use AI to really change the legal industry was by “building our own lawyer to own the whole process, end to end,” said Daniels.
Sarihan, who was an early employee at RAMP, began hiring program engineers from the starting world, while Daniels began hiring lawyers. Today the starting hires about 19 people, including the founders.
“The innovation here is in Techniko and in the people,” Sarihan said.
Soft company launched in January, the co-founders said, and it has already revised more than 1,000 customer contracts-like MSAs, data processing and non-publicizing deals-for rapidly growing startups such as cursor and the Sales Automation Starts Clay and unifygtm.
Josephine Chen kaj Alfred Lin de Sequoia gvidis la semon kun partopreno de Bain Capital Ventures kaj amaso da anĝeloj kiel Ramp kunfondintoj Eric Glyman kaj Karim Atiyeh, OpenDoor kunfondinto Eric Wu, Castext kunfondisto, AntacAr, kaj la kunulo de Casetext, kaj la kunfondisto de Casetext, kaj la kunfondisto, kaj la instanco de Casetext, and the co -founder, and the co -founder, and the instance of Castext, and the instance of Castext, and the co -founder, and the co -founder, and more than the flatterer, and more than the flatterer, and a little man, a minor, and is not with the flatterer, and is not with the flatterer, and is not with the flatterer. The flattery, not fulfilled. Gil Shlarski.
The stars ranked for Crosby to land Sequoia as an investor. Chen knew Sarihan de Ramp Obtained by ramp last year.
When the co -founders launched their idea to Chen, she asked Sequoia’s internal lawyer about the idea, and that lawyer, Cindy Lee, knew Daniels of her time at Cooley.
“When we think about investing seeds, for us, probably 70% around the team and 30% around the market, market dynamics and the understanding the founders have there,” Chen explained. Considering all the relationships she already had to the founding team and that legal work is $ 300 -milardo Industry, Chen rejected it with Crosby.
“We have seen, even in our own portfolio [companies]As negotiation on contracts can be a bottle for growth, “Chen said. Legal, according to her, is” a case of bull for the use of LLMs. ”
