Streamline AI, the California-based matter management platform for inhouse teams, has gained $8.6m in Series A funding, taking the total invested to $14m since launching in 2020.
The fresh cash ‘will fuel market expansion to meet surging demand from mid-market and enterprise legal departments struggling with manual processes and resource constraints’ they said.
The company was founded by former DoorDash lawyer Kathy Zhu (pictured), and Google product leader Julian Wimbush. They currently support around 500 inhouse lawyers.
All well and good. So, what does it do?
The company explained that ‘unlike generic workflow tools retrofitted for legal use, Streamline AI was built from the ground up to handle the complexities of legal operations. The platform’s AI-powered intake automatically extracts and structures information from incoming emails, while its conversational AI assistant handles routine questions that would otherwise consume attorney time’.
In turn this provides a ‘40-50% reduction in request turnaround times’ and ‘25% faster response times’ for handling matters inhouse, they stated.
Zhu, CEO and co-founder of Streamline, commented: ‘This funding will accelerate our mission to eliminate the frustrations and inefficiencies that plague in-house legal departments. We’ve spoken to hundreds of attorneys over the past year, and the takeaway is clear: in-house teams desperately need to move away from emails and spreadsheets to a centralized system purpose-built for legal workflows. Legal should be viewed as a revenue-enabler, not a cost-centre.’
The Series A was led by Blumberg Capital, with participation from Tribeca Venture Partners, Acronym Venture Capital, Great Oaks Venture Capital, and Scribble Ventures.
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You can find more about Streamline here.
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