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November 28, 2023

LegalFly Secures Over €2 Million in Seed Funding to Revolutionise Legal with AI

The round was led by Redalpine, with Mehdi Ghissassi, Director of Product at Google DeepMind, contributing and underscoring the AI industry’s confidence in LegalFly’s mission.

LegalFly Raises €2 Million in Seed Round Led by Redalpine

We at LegalFly are thrilled to announce the successful completion of a seed funding round, raising over €2 million. The round was led by Redalpine, with Mehdi Ghissassi, Director of Product at Google DeepMind, contributing and underscoring the AI industry’s confidence in LegalFly’s mission.

LegalFly is an artificial intelligence copilot tailored for legal teams, merging cutting-edge technology with exclusive legal data pooled from key partnerships. One of its standout features is the stringent anonymisation of all legal documents, ensuring unparalleled data security for on-premise use. This makes LegalFly not just a tool, but a game-changer for law firms seeking to boost their legal efficiency in litigation, contractreview, and drafting.

Market Reception and Growth

Since launching its beta version in June, LegalFly has been rapidly onboarding dozens of leading industry law firms and corporations in the United Kingdom, France and Benelux. The seed investment comes at a crucial time as the company accelerates its growth to meet the overwhelming demand, evident by the extensive waiting list of over 100 law firms and corporations eager to access LegalFly’s AI solutions.

Investor's Perspective

Sebastian Becker, General Partner at Redalpine and newly appointed board member, said: “The exceptional technical team at LegalFly has created a standout product leading to exceptional usage among its customers. This, combined with their highly effective go-to-market strategy, makes LegalFly perfectly positioned to lead the way in the fast-moving legal sector.”

The support from investors like Mehdi Ghissassi signals a significant endorsement of LegalFly’s potential: "I couldn’t be more excited to be a part of the LegalFly journey! The LegalFly team's focus on understanding and addressing user pain points is impressive. Their ability to create intelligent, custom-built tools promises to significantly empower legal teams. The prospect of their product-driven growth and engineering prowess scaling user experiences is truly exciting."

Our Mission

CEO Ruben Miessen speaks to the core of the company's mission: "Our goal is to supercharge legal teams across law firms and corporate counsels, enhancing every aspect of their professional journey with our AI-driven Copilot. Our product-first mindset, refined through our experiences at Tinder and Match Group, drives us to create solutions that precisely meet user needs. "

Impact on Customers

As a result of placing legal professionals in the driver’s seat of the LegalFly AI copilot, existing customers are reporting a 60% reduction in contract review & drafting time.

LegalFly’s award for the British Legal Technology Awards attests to its flourishing status in the field. Beyond developing precise tools for legal professionals, LegalFly is fosteringa community of forward-thinking lawyers eager to adopt AI in their practices.

Future Growth and Expansion Plans

This seed funding will enable us to build and ship solutions faster, expand its business operations to the U.S., and bring its transformative product to the many lawfirms waiting to experience the next level of legal practice.

Gregory Vekemans
November 28, 2023
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