Supio Secures $60M to Advance AI-Powered Legal Analysis
Supio, an AI-powered legal analysis platform, has announced a $60 million Series B funding round led by Sapphire Ventures, with participation from Mayfield and Thomson Reuters Ventures. This latest investment brings Supio's total funding to $91 million.
The company plans to use the funds to accelerate growth, expand its team, and strengthen its go-to-market strategy. Supio will expand its Seattle headquarters and open a new office, aiming to double its current 100-person workforce.
AI Transforming the Legal Landscape
Supio is entering a competitive legal tech market where AI is rapidly gaining traction. While some remain skeptical about AI's capabilities in legal tasks, law firms are increasingly adopting AI solutions to stay competitive. Recent surveys indicate a significant rise in AI adoption within the legal profession.
Founded by Jerry Zhou and his childhood friend and former Avalara colleague, Supio aims to transform how legal professionals interact with documents. The platform addresses the time-consuming manual review of medical records, police reports, and expert opinions, common tasks for attorneys and paralegals.
Every day, attorneys and paralegals spend thousands of hours manually reviewing documents. Supio's core product gives them a deep understanding of their complex, unstructured data.
Focusing on Personal Injury Law and Accuracy
Currently focused on personal injury law, Supio's AI-powered platform integrates with existing law firm file systems to streamline case management. The platform employs human verification to minimize AI-introduced errors and ensure accuracy.
Supio supports over 114 case types, a number that continues to grow in partnership with its customers. The company emphasizes specialized AI model development and quality control at the document and data level.
Significant Growth and Future Expansion
Supio has experienced significant growth, with a 4x increase in annual recurring revenue and customer base. Clients include prominent personal injury and mass tort law firms such as Huges & Coleman, Daniel Stark, Thomas Law Offices, and Whitley Law. To support this expansion, Supio has recently appointed new heads of sales, customer success, and marketing.
CEO Jerry Zhou believes AI marks a turning point for the legal industry. He envisions a future where AI transforms legal work similar to how Excel revolutionized finance.
AI has created a major inflection point for the legal industry. Every firm is thinking about how they need to reinvent themselves for the AI era.
