Midpage 👩🏻‍💼

Each year, over 40 million lawsuits are filed in the U.S., resulting in billions of notes and citations. 📑

Amid dozens of open tabs and mounds of paperwork, lawyers face the task of staying organized.

Plus, countless hours are spent sifting through excessive information irrelevant to that particular cases.

This week’s company provides an AI-driven platform to assist with legal research and draft case documents.

Research: Streamlines and enhances the legal research process by filtering out irrelevant information and providing focused insights.

Draft: Automates the transformation of research into case documents, increasing organization and efficiency.

Industry: Legal tech, AI

Headquarters: New York, NY

Year founded: 2022

Employee count: 8

Investors: Lea Partners and Thomas Willberger

Amount raised: $1.1M

Currently raising: $6M seed round

Business model: B2B SaaS

Early traction: Over 4,000 sign-ups with a waitlist of over 400, including notable law firms.

Mercury Raise eliminates the hurdles faced by startups, giving them access to investors, face time with industry experts, and connections to fellow founders.

If you’re fundraising, submit your pitch and get matched to investors actively looking to fund businesses like yours.

Founders looking for guidance and insights can tune in to unfiltered conversations with experts and industry veterans.

Craving the company of those who get it? Meet and forge career-defining connections with peers navigating similar challenges.

Building a company can be exhilarating. And at times it can feel lonely. But with Mercury Raise, you don’t have to go it alone.

📈 Market trends: The legal services market is rapidly expanding, driven by a rising demand for automation tools that streamline tedious tasks.

✅ Efficiency: Midpage's AI-driven approach reduces time spent on legal research and drafting, freeing lawyers to prioritize case strategy and client interactions.

🔗 Information integrity: The platform prominently features hyperlinked cases, bolstering user confidence in generated content and significantly reducing the risk of AI hallucinations.

🔍 Accuracy concerns: Despite hyperlink validation, the platform needs continuous monitoring to ensure the AI-generated insights remain accurate.

🌎 Geographical expansion: Expanding into new jurisdictions may require tuning the model to reflect different laws and precedents, a process that could be both time-intensive and costly.

🚫 Technology reliance: Over-reliance on the platform could lead to reduced critical thinking and analytical efforts among attorneys, potentially impacting the quality of legal counsel over time.

Otto von Zastro-Marcks, CEO: Previously founded a lawn robot startup.

Casetext: Backed by Union Square Ventures, Y Combinator, Susa Ventures, Red Sea Ventures, Touchdown Ventures, and others.

Harvey: Backed by Sequoia, Open AI Startup Fund, Conviction VC, SVA, and others.

Version Story: Backed by Y Combinator, Gaingels, and 10X Capital.

🤖 Wonder how the US Air Force and Army are integrating innovative AI into their work? Avawatz’s ARYA platform.

📈 This week in venture: CalSTRS and Sapphire are partnering to fund emerging VC managers.

💡 The innovation situation: Apple is replacing its lightening connector with USB-C.

The votes are in: Pharmesol, an AI software enabling healthcare providers to automate medication management, had a split vote.

Subscriber feedback: “While automating medication management is a huge opportunity, AI giving medical advice seems like a liability.”