DraftWise Receives $20 Million Investment in Series A Investment Round

DraftWise announced that it has received $20 million investment led by Index Ventures in a series A investment round. Y Combinator and Earlybird Digital East Ventures also participated in the investment round. DraftWise offers an AI-powered contract tool for lawyers. DraftWise was founded in 2020 by former Palantir and Google engineers James Ding and Emre Özen and former Clifford Chance senior partner Ozan Yaltı.

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DraftWise Introduces an AI-Powered Contract Tool for Lawyers

Through its platform, it also helps lawyers to prepare and review contracts faster. It works in an integrated manner with document management systems and other information management resources. When we look at the competitors of the startup, we see Spellbook, Harvey and Robin AI, which attract attention with the investments they have recently received. According to James Ding, the company uses records of past client work and other unique data to help law firms better tailor their contracts. Thus, the startup also differentiates itself from its competitors.

Also, according to the information shared by James Ding, we should specify for the startup. It has been using artificial intelligence together with other technologies since the day it started its operations. DraftWise even incorporated generative artificial intelligence using large language models (LLM) last year. Among the clients of DraftWise, which carries out its activities with a team of 30 people, we should add. Law firms Orrick Herrington & Sutcliffe, Gunderson Dettmer, Katten Muchin Rosenman, Womble Bond Dickinson and Mishcon de Reya.