Supio, a startup that uses AI to automate data collection and analysis for legal teams, raised $60 million in a funding round led by Sapphire Ventures, with participation from Mayfield and Thomson Reuters Ventures.
The new capital that boosts Supio’s total to $91 million is directed towards growth, employment and market commitment, co-founder and CEO Jerry Zhou told TechCrunch. Supio plans to open a new office to expand its Seattle headquarters and almost double its 100 staff.
Supio is one of many startups competing for MindShare with customers in the AI LegalTech space. The skepticism of how well AI can perform certain legal tasks is that law firms are under competitive pressure to embrace it. According to one survey, AI adoption in legal professions has almost tripled from 11% in 2023 to 30% in 2024.
Supio’s idea came after Lam, Zhou and Zhou’s childhood friend and a colleague at tax compliance software company Avalara, left Avalara and built his own business. Zhou says he saw the opportunity to “change how people work in documents.”
“Every day, lawyers and paralegals spend thousands of hours manually on medical records, police reports and expert opinions,” Zhou said. “Supio’s core products serve these users by providing a deeper understanding of complex, unstructured data.”
Focusing on personal injury laws, Supio offers an AI-powered platform that connects to law firms’ existing file systems to aid case management. Zhou argues that Supio will employ “human verification” to combat errors introduced into AI, ensuring reasonable accuracy.
“We focus deeply on professional (AI) models and quality control in the documentation and data layers,” Zhou said. “Our legal AI supports more than 114 case types, and the number is increasing through cooperation with our customers.”
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According to Zhou, Supio was a very successful year. Similar to Supio’s customer base size, its annual recurring revenues have quadrupled. The company’s clients include Hughes & Coleman, Daniel Stark, Thomas Law Offices, Whitley Law and other personal injury and mass tort law firms.
To support this (and future) expansion, Supio recently appointed head of sales, customer success, marketing and advertising.
“AI has created a major inflection point across the legal industry,” Zhou said. “Every company with every vert addiction in the law is thinking about how it is necessary to reinvent itself in the AI era. If Excel transformed its finances 30 years ago, AI will do the same for legal knowledge workers.”