Paxton, a Portland, OR-based generative AI legal assistant that helps law professionals with regulatory intelligence, raised $6 million in seed funding.
SaaS Investors
The round was led by WVV Capital, with participation from Kyber Knight, 25Madison, AI Fund, Voyager Capital, Gaingels, Plug and Play Technology Center, Identity Ventures, and Dick Parsons, the former Chairman of Citi.
Paxton Use of Funds
The company intends to use the funds to invest in go-to-market so that its technology can reach all legal professionals and businesses.
About Paxton
Founded by Michael Ulin and Tanguy Chau, Paxton acts as an assistant for legal research, which leverages Generative AI. The platform leverages natural language processing and machine learning to comprehend intricate legal concepts, conduct thorough research, and produce intelligently analyzed first drafts. It streamlines the research process and ensures the accuracy and verifiability of outputs, allowing legal professionals to vet and ultimately trust its work. Paxton complies with SOC2 requirements (attestation pending) and follows the American Bar Association’s guidelines on legal AI. It can be deployed behind a firm firewall, with options to isolate data access by practice group or matter.
Funding Details
Company: Maya Financial, Inc.
Raised: $6.0M
Round: Seed Round
Funding Month: September 2023
Lead Investors: WVV Capital
Additional Investors: Kyber Knight, 25Madison, AI Fund, Voyager Capital, Gaingels, Plug and Play Technology Center, Identity Ventures, and Dick Parsons
Company Website: https://www.paxton.ai/
Software Category: AI Legal Assistant
Source: https://www.finsmes.com/2023/09/paxton-raises-6m-in-seed-funding.html