Leya Secures $25 Million In Series A Funding To Augment Legal Work With AI Led by Redpoint Ventures

STOCKHOLM--(BUSINESS WIRE)--Leya, a pioneer in AI-driven legal technology, is thrilled to announce the successful raise of $25 million in a Series A funding round. The round was led by Redpoint Ventures, with participation from existing investors Benchmark, Y Combinator, and Wayfinder Ventures, with the new addition of Alt Capital.

Leya was founded on the belief that lawyers should be freed from manual, repetitive tasks to focus on impactful, strategic work. By leveraging cutting-edge AI, Leya makes lawyers more productive while delivering higher-quality results. This mission has driven the company from its inception in a student dormitory, through initial explorations of BERT models for Swedish legal sources, to its current status as a leader in legal tech innovation.

“Our journey has been fueled by a relentless obsession with enhancing legal productivity,” said Max, co-founder of Leya. “From our early days at Mannheimer Swartling to our trips to San Francisco, we’ve been driven by a vision of a more delightful, AI-powered way of working in legal. This funding will allow us to accelerate even faster, as it comes off the back of our previous round just two months ago.”

Leya’s platform integrates seamlessly with law firms’ documents, playbooks, templates, and external legal sources. It assists lawyers with specific tasks related to reviewing, searching, and drafting, such as filling in transaction checklists, creating key terms reports, and writing memos to name a few. By providing intelligent support, Leya enables legal professionals to handle legal work quickly and efficiently.

This new funding will accelerate Leya’s product development and growth, as seen by its recent entry into the UK with its announcement with Bird & Bird and their collaboration with legal data provider FromCounsel. This comes off the back of several other key partnerships already established across the European continent.

“The pace at which Leya is adding features and scaling is incredible,” said Jacob Effron, Partner at Redpoint Ventures. “Max and the team have done a fantastic job making the product easy-to-use and valuable for lawyers across different parts of their work. AI is going to change the legal industry and we think Leya has the right combination of team, product and vision to drive that change.”

“Leya is enabling legal professionals across industries to leverage the latest innovations in AI to serve their clients better and improve productivity,” said Chetan Puttagunta, General Partner at Benchmark. “The customer reception for Leya has been outstanding with enterprises and law firms of all sizes adopting Leya as a core part of getting their legal work done.”

About Leya

Leya is an AI-driven platform designed to revolutionize the legal industry by automating repetitive tasks and enhancing the productivity of legal professionals. Founded in 2023 and backed by Redpoint, Benchmark and the prestigious accelerator Y-Combinator, Leya combines AI with a deep understanding of legal workflows to deliver innovative solutions that transform how lawyers work.

For more information, visit Leya’s Website

Contacts

max@leya.law

First published on Wed, Jul 17, 2024

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