Solve Intelligence, a legal tech startup based in Delaware, has successfully raised $12 million in a Series A funding round, led by 20VC. This investment will accelerate the growth of its AI-powered platform designed to revolutionize how patent professionals handle the intricate workflows surrounding intellectual property (IP). The company aims to replace outdated tools like spreadsheets and PDFs that have long been standard in the industry, offering a more efficient, AI-driven approach.
AI-Powered Solutions for Patent Professionals
Solve provides an intuitive, AI-driven document editor designed to streamline the work of patent attorneys. Functioning similarly to Google Docs, the platform’s unique selling point is its ability to assist with tasks such as drafting patents, responding to office actions, claim charting, and disclosure enhancement. The AI system is built to integrate legal expertise with domain-specific knowledge, making it an invaluable tool for speeding up processes that have traditionally been highly manual and time-consuming.
Rapid Growth and Expanding Customer Base
Since its inception, Solve has gained impressive traction, already serving over 200 IP teams across the U.S., Europe, and Asia. Their client base includes global brands like Siemens and Avery Dennison, as well as prominent law firms such as DLA Piper and Finnegan. Remarkably, the company has achieved this success without relying on traditional sales or marketing efforts.
CEO Chris Parsonson shared that Solve is seeing substantial month-over-month revenue growth, adding that the company is now profitable just two years after its founding. The company’s ability to scale has been fueled by a 25% month-over-month revenue increase and its $3 million seed funding raised in 2023.
Bridging AI and Legal Expertise
The core of Solve’s offering is its ability to combine advanced AI capabilities with legal and technical expertise to enhance the quality and speed of patent-related work. Saj Ahilan, the company’s co-founder, emphasized that while building software for patent workflows was not feasible 18 months ago, recent advances in AI have made it possible. The platform now bridges the gap between general-purpose AI models and professional-grade legal content, ensuring patent professionals can rely on accurate and specialized outputs.
Additionally, Solve offers a high degree of customization, allowing patent professionals to adapt the AI’s outputs to their specific preferences and workflows. This flexibility has become one of the platform’s most popular features, enabling attorneys to tailor the technology to different jurisdictions, industries, and client needs.
Expanding Product Features and New Opportunities
The new funding will support Solve’s growth plans, which include scaling its product, hiring additional staff, and opening a new office in New York. The company also plans to bolster its research and development efforts, particularly in the life sciences sector, with a focus on adding features like sequence listing for pharmaceutical patent applications and expanding its patent prosecution capabilities.
The company is also working on new tools for freedom-to-operate analysis, claim chart licensing, and patent portfolio management, with the goal of offering a comprehensive suite of solutions for in-house IP teams.
Competing in a Growing Legal Tech Market
Solve operates in a competitive legal tech market, with companies like PatSnap, IPRally, HarveyAI, and Casetext vying for attention. However, Solve differentiates itself through superior AI quality, the ability to customize outputs, and a highly user-friendly interface.
A key element of Solve’s strategy is its strategic partnerships with major investors like Microsoft and Thomson Reuters. These partnerships not only provide financial backing but also open the door to deeper integrations with essential tools like Microsoft Word, further embedding Solve’s AI capabilities into the workflows of patent professionals.
With this latest round of funding, Solve Intelligence is poised to continue expanding its impact on the legal tech industry, offering advanced AI solutions that could transform how patent professionals approach their work.