Patents have been a debate in the technology community for decades, seen by some as a way to protect intellectual property rights, but critics have seen as a blunt objection to innovation. In the AI era, they are re-examined again.
New York startups Patlytics A patent analytics platform that supports AI has been developed to help companies, IP professionals and law firms from discovery, analysis, comparison and litigation to litigation.
The Google-backed startup said on Monday it closed $14 million in a round led by Next47, with participation from existing investors including Google’s Gradient, 8VC, Alumni Ventures, Liquid 2 Ventures and Myriard Venture Partners. Its Series A financing raises it to $21 million in total, about 9 months later The seed round before April.
CEO Paul Lee and CTO Arthur Jen co-founded Patlytics in January 2024. Former venture capitalist Lee saw IP companies using outdated technology when using patents: discovering, analyzing and reporting patent cases in intellectual property or building patent cases related to potential litigation – has been time-consuming, manual effort. Jen knew the workflow was slow: He used to manage the filing and patent protection of Magic, a crypto wallet company he co-founded.
“Patlytics has an interesting Genesis because I don’t have a legal background and I had a lot of misunderstandings about legal technology at first,” Lee said in an exclusive interview with TechCrunch. “Historically, there are many negative implications and premises for selling technology to lawyers,” Lee said. But AI does change these premises… What we see in the IP market is that people want better technology; the high-value work with LLM has been greatly promoted, and most importantly, patent professionals are eager for quality.”
Patlytics’ Big Language Model (LLM) and AI-driven engine are customized for IP-related research and other work, such as patent application drafting, invention disclosure, invalid analysis, infringement detection/analysis, standard basic patent (SEPPS) analysis and IP asset portfolio management.
The 1-year-old startup said ARR has increased 20 times, its customer base has increased 18 times in six months, and a 300% monthly growth rate continues to rise by 300%. Patlytics did not disclose how many clients it has, but about 50% of its client base is law firms, while the other half is corporate clients from industries such as semiconductors, biotech, and pharmaceuticals. Additionally, the company now serves customers in South Korea and Japan and has recently launched its first pilot product in London and Germany.
Its customers include Exception Security, Google, Koch Insuptive Technologies, Quinn Emanuel Urquhart & Sullivan, Richardson Oliver, Reichman Jorgensen Lehman & Feldberg, Xerox and Young Basile.
With the series round, the startup plans to expand sales and increase its investment in product development. This includes hiring more engineers and expanding to different modules provided by the company. The startup doubled its employees, meeting growth in customer demand since April 2024. Join Patlytics’ leadership team as Vice President of Strategy for the next stage of growth.
Patlytics Pathlytics Advisory Board Member and Chairman of the Patent Trial Committee (PTAB) Practice (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice Committee (PTAB) Practice, which automatically performs technical discovery to generate detailed claims for validity and infringement purposes. Charts for validity and infringement purposes. “In Latham & Watkins. “By generating confidential, detailed and impartial analysis, Patlytics’ goal is to ensure that parties involved in patent conflicts resolve critical information can be cost-effective and more effective in litigation.” ”
