USA – Paxton, a Portland, OR-based generative AI legal assistant that helps law professionals with regulatory intelligence, raised $6M in seed funding.
The round was led by WVV Capital, with participation from Kyber Knight, 25Madison, AI Fund, Voyager Capital, Gaingels, Plug and Play Technology Center, Identity Ventures, and Dick Parsons, the former Chairman of Citi. The company intends to use the funds to invest in go-to-market so that its technology can reach all of the legal professionals and businesses. Led by By Tanguy Chau (co-founder, CEO) and Mike Ulin (co-founder, CTO), Paxton acts as an assistant for legal research, which leverages Generative AI. The platform leverages natural language processing and machine learning to comprehend intricate legal concepts, conduct thorough research, and produce intelligently analyzed first drafts. It streamlines the research process and ensures the accuracy and verifiability of outputs, allowing legal professionals to vet and ultimately trust its work.Paxton was designed to ensure it cannot provide nonexistent cases, provides clear and accurate citations for every claim it generates, so practitioners can verify its outputs, and allows practitioners to go beyond publicly available information. Users can upload their own research and documents to Paxton for analysis. In addition, its database is updated in real-time, and tracks every US Federal & State law, rule, regulation, and guidance. Paxton complies with SOC2 requirements (attestation pending) and follows American Bar Association’s guidelines on legal AI. It can be deployed behind a firm firewall, with options to isolate data access by practice group or matter. 19/09/2023
