Midpage 👩🏻‍💼

Setting the Scene

• 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.

In a Sentence

Midpage is an AI platform for lawyers to conduct 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.

The Basics

• 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.

IN PARTNERSHIP WITH

• 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.

Due Diligence

WHAT WE LIKE

• 📈 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.

POTENTIAL RISKS

• 🔍 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.

Founder Profile

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

Comps

• 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.

📌 Bulletin Board

IN PARTNERSHIP WITH

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

  • With an $15M+ sales pipeline and over $2M in R&D funding, AvaWatz is creating a platform for the scalable teams of mixed-ability robots. Invest in their growth here.*

• 📈 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.

This is sponsored content*

🗳 Cast Your Vote

Last Week Today

• 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.”

🎉 You’re invited

✍️ Written by Brett and Juliana

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