Superlegal, a New York-based AI-driven platform designed to assist small and medium-sized businesses (SMBs) with legal contract review, closed $5 million in seed funding round.
Investors
The round was co-led by Aleph and Disruptive AI fund, with additional participation from Alicorn Venture Capital and Tom Glocer, the former CEO of Thomson Reuters.
Aleph is an early-stage VC focused on partnering with Israeli entrepreneurs to build large companies and impactful global brands. Founded in 2013 and based in Tel Aviv, Israel, the firm seeks to invest in companies operating in the information technology, SaaS, big data, and artificial intelligence sectors across Israel. with $850M under management, Aleph has invested in over 60 companies.
Disruptive AI (DAI) is a venture capital firm specialized in AI startups from their early stages and acts as a home for the Israeli AI innovation community. DAI is partnering with top Israeli entrepreneurs who bring industry domain expertise and strong AI technology vision to build large, meaningful companies and impactful global brands. The Fund is backed by more than 30 active top leading entrepreneurs from the Israeli hi-tech arena and strategically involved with global corporations who marked AI as their focus.
SuperLegal Use of Funds
The company will use the funds to accelerate product innovation, attract top talent, and expand its market presence.
About SuperLegal
Founded by Bechor and Ilan Admon, Superlegal provides a SaaS platform that offers AI-powered, lawyer-verified legal contract review services tailored specifically for SMBs. The platform is designed to help businesses efficiently and cost-effectively handle their contracts and accurately review and advance contracts without depending on a legal department or outside legal counsel. Headquartered in New York, NY, SuperLegal offers the only AI solution authorized to practice law in the U.S.
Funding Details
Company: Superlegal
Raised: $5.0M
Round: Seed Round
Funding Month: May 2024
Lead Investors: Aleph, Disruptive AI fund
Additional Investors: Alicorn Venture Capital, Tom Glocer
Company Website: https://www.superlegal.ai/
Software Category: Legal
Source: https://www.prnewswire.com/news-releases/superlegal-ai-contract-review-platform-for-small-and-medium-sized-businesses-closes-5m-seed-round-to-help-companies-close-deals-faster-cut-legal-costs-and-negotiate-better-302151941.html