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Title
Darrow raises $35M for an AI that parses public documents for class action lawsuit potential
Darrow raises $35M for an AI that parses public documents for class action lawsuit potential | TechCrunch –:–:–:– 🚨 Flash Sale 🚨 Get $100 off your…
Description
Darrow, a legal tech startup founded in 2020, built an AI-based data engine that crawls thousands of sources of publicly available information (newsfeeds, social media, consumer complaints, regulatory filings, SEC filings, environmental reports, court dockets) to identify class-action litigation potential in areas such as data privacy violations, environmental contamination, and discrimination, and to predict likely legal outcomes and case value. A team of legal data specialists, including former lawyers, reviews the AI-surfaced insights before lawyers use the platform for case review and discovery. Around 50 law firms, covering hundreds of lawyers, were using the product, and active cases stemming from Darrow's data insights totaled around $10 billion in claims at the time of the funding round.
…tapping into those facts for its own business is announcing a round of funding. Darrow — which has developed an AI-based data engine that ingests large amounts of publicly available documents to search for class action litigation potential across areas like data privacy violations and environmental contamination — has raised $35 million. The funding is coming in the wake of a strong run in the last couple of years:…
Company
Darrow
…tapping into those facts for its own business is announcing a round of funding. Darrow — which has developed an AI-based data engine that ingests large amounts of publicly available documents to search for class…
Country
United States
…quared Ventures. Image Credits: Darrow (opens in a new window) under a license. The startup, headquartered in NYC with offices also in Tel Aviv, was founded in 2020 in the wake of COVID-19. The pandemic signaled a shift in how lawyers worked, according to Evyatar (Evya…
Industry
Legal
…of lawyers, technologists, and product developers were a key reason to invest.” Topics AI , Darrow , Enterprise , Georgian , legal , legal tech , predictive analytics When you purchase through links in our articles, we may earn a small commission…
Problem
Class action suits are often perceived as too pricey and risky for law firms to take on, and it's often only the biggest firms that have teams to proactively seek out interesting cases and the resources to fight them, leaving smaller players and less prominent violations on the sidelines.
…ve a moral purpose — the startup has a very different spin on the matter. Class action suits are often perceived as too pricey and risky for law firms to take on, and it’s often only the biggest firms that have teams to proactively seek out interesting cases and the resources to fight them; on the lawyer side, it’s usually only the biggest names that are proactively sought out by would-be plaintiffs to begin any process, leaving smaller players on the sidelines. But the way Ben Artzi sees it, every lawyer wants to find and fight the good fi…
Solution
Darrow built an AI-based "justice intelligence" data engine that crawls thousands of sources of publicly available information -- newsfeeds, social media, consumer complaints filed with regulators, administrative reports, SEC filings, environmental reports and court dockets -- to identify class-action litigation potential in areas such as data privacy violations, environmental contamination and discrimination, and to predict likely legal outcomes and case value. A team of legal data specialists, including former lawyers, reviews the AI-surfaced insights before lawyers use the platform for case review and discovery.
…e a legal violation and potential litigation: business development for lawyers. Darrow works by crawling thousands of sources of publicly available information — newsfeeds, social media chatter, consumer complaints filed with regulators and other organizations, administrative reports, SEC filings, environmental reports, court dockets and more — ingesting all of it and “connecting dots” between data and…
…ey can further use the platform to start their process of review and discovery. Darrow does not act as a “black box”: it also employs a team of legal data specialists, including former lawyers, to review the insights and patterns. Image Credits: Darrow (opens in a new window) under a license. The startup has…
Business value
Around 50 law firms, covering hundreds of lawyers, were using the product, and active cases stemming from Darrow's data insights totaled around $10 billion in claims at the time of the $35 million Series B funding round.
…sclosing its valuation, nor any details about revenues. But Ben Artzi said that there are now some 50 law firms currently using the product, covering hundreds of lawyers, to be more proactive in how they find and develop new cases to pursue. “There are a lot of other violations out there. We are not finding everyt…
…The funding is coming in the wake of a strong run in the last couple of years: Darrow says that active cases that were started as a result of its data insights currently total around $10 billion in claims. Now, it plans to use the funding to hire more engineers and business developmen…
AI capabilities
Predictive Analytics, Natural Language Processing
…more areas of focus (new legal domains) to its search and analytics tools; and invest in expanding its large language models and other technology assets. This Series B was led by B2B specialist Georgian, with F2 and previous backers…
Technology
large language models
…more areas of focus (new legal domains) to its search and analytics tools; and invest in expanding its large language models and other technology assets. This Series B was led by B2B specialist Georgian, with F2 and previous backers…
