Patlytics, an AI-powered patent workflow platform founded just last year, said today that it has closed a $14 million Series A round, on top of a $4.5 million seed round last April, bringing its total funding to $21 million, all within a nine-month span.

This latest round was led by global venture firm Next47, with participation from existing investors including Google’s AI-focused venture fund Gradient, 8VC, Alumni Ventures, Liquid 2 Ventures, and Myriad Venture Partners.

The company says its fundraising success validates market demand for its product “and positions the company to lead the seismic shift in AI-driven intellectual property protection and management.”

“We’ve entered a pivotal moment in legal tech where AI can drive an immense amount of value, even within the complex and nuanced realm of intellectual property,” said Paul Lee, CEO and cofounder of Patlytics. “Our platform’s ability to deliver efficiency and insights with generative AI is fundamentally transforming the patent lifecycle.”

The company also announced the hiring of lawyer Eric Lin as vice president of strategy to further the company’s next phase of growth. Lin has been an IP litigator since 2014, most recently at the law firm Paul Hastings, and previously at Morrison & Foerster and Baker Botts.

Patlytics’ product enables AI-assisted patent application drafting and provides tools for identifying infringement, generating claim charts, and patent pruning by identifying high- and low-potential assets.

“Patlytics’ cutting-edge AI is revolutionizing how patents are drafted, analyzed, protected, and monetized, as evidenced by their enterprise customers and end-to-end platform approach,” said Matthew Cowan, general partner at Next47. “Patlytics’ benchmark of velocity is unmatched — and the team has harnessed this momentum to deliver secure, comprehensive AI outcomes on par with patent professionals.

The company says it has seen an 18x expansion in its customer base within six months, with notable customers including Quinn Emanuel, Koch Disruptive Technologies, Google, Xerox, Abnormal Security, Richardson Oliver Law Group, Young Basile, and Reichman Jorgensen Lehman & Feldberg LLP.

Photo of Bob Ambrogi Bob Ambrogi

Bob is a lawyer, veteran legal journalist, and award-winning blogger and podcaster. In 2011, he was named to the inaugural Fastcase 50, honoring “the law’s smartest, most courageous innovators, techies, visionaries and leaders.” Earlier in his career, he was editor-in-chief of several legal publications, including The National Law Journal, and editorial director of ALM’s Litigation Services Division.