Patlytics, which makes artificial intelligence workflow tools to speed up various tasks associated with obtaining, asserting, or defending against patents, raised $40 million, the latest sign of strong investor interest in legal technology.
Patlytics offers a more patent-centric suite of legal tools than general purpose legal AI platforms, co-founder and CEO Paul Lee said. That includes AI-powered patent application drafting, patent infringement detection, and patent invalidity analyses, and other workflows that track the lifecycle of a patent.
The widespread adoption of legal tech tools has boosted Patlytics because they’ve highlighted the need for more finely tailored products, he said. Major ...