Della, the Legal technology startup, raised USD 2.5 million in a seed funding round on March 24, 2022. With headquarters in London and Paris, Della uses A.I. to help law firms and in-house legal teams accelerate the review and audit of legal documents. Pragmatech Ventures joined Della’s seed funding round as a new investor. Meanwhile, Thibault Poutrel, Frederic Montagnon, and other investors participated in the round.
Purpose of Funding for Della
Della intends to use the fresh capital to grow its presence in Europe and the USA. Consequently, it will begin targeting U.S. customers this year and plans to open a U.S. office in 2023.
Besides, they seek to enhance its unique A.I. capabilities. Della’s A.I. platform makes reviewing complex and straightforward legal documents faster, more accurate and more efficient.
The company will also invest in hiring additional staff to work on functions such as product development, sales and marketing.
What the founder has to say
Christophe Frèrebeau, CEO and co-founder of Della, said, “Our dream would be to be able to answer a question about a legal document and answer it like a lawyer would.”
He further explains, “The legal review market has moved away from simple data extraction to solutions that provide end-to-end support of the entire legal review process. A.I. has moved up the value chain in legal, and users don’t want to use pre-trained, customized A.I. due to the time it takes to train those models and the cost involved in doing that. Larger transfer learning-based models, like Della’s, are replacing those legacy solutions, and we are enabling lawyers to use A.I. to help with more and more complex tasks.”
In addition, he said, “We are trying to create an A.I. that is extremely scalable,” Frèrebeau said in an interview yesterday. “We want to provide a solution that lawyers find easy to use and use, but create data that make the system better for everyone.”
What the investor has to say
“Della is redefining what people think legal tech can do. We look forward to helping Della continue its impressive growth. We will be supporting Christophe and the team across various tasks, from hiring to operations,” said Evgeny Sergeev, founder and General Partner at Pragmatech Ventures.
Further, he said, “It is hard to deny the relevance of artificial intelligence and its applications in the field of law, in general, and, in particular, to legal review workflows. We strongly believe that Della will shape the future technology stack of law firms and corporate legal teams globally. We plan to spend a significant amount of time with the company and its management team to help them on their journey.”
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