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Google Gradient supports Patlytics to help companies protect their intellectual property

Patritisis an AI-driven patent analysis platform that hopes to help enterprises, IP professionals and law firms speed up patent workflows Discover, analyze, compare and litigate.

Led by Gradient Ventures, Google’s AI-focused venture capital arm, the fledgling startup raised $4.5 million in seed funding, which was oversubscribed and closed within days.

Patlytics was co-founded by CEO Paul Lee (a former venture capitalist at Tribe) and CTO Arthur Jen (serial entrepreneur, co-founder and CTO of web3 wallet platform Magic). Their shared vision and complementary skills set the foundation for Patlytics, which is driven by their first-hand experience and deep understanding of industry pain points.

The co-founders told TechCrunch that they have witnessed many opportunities in the intellectual property space. Having spent much of his previous career investing in vertical SaaS and AI as well as a number of legal tech startups, Lee encountered many IP firms that were using outdated technology in workflows that (in his opinion) should be digitized. While at Magic, Jen focused on patent prosecution and defense to protect the company’s technology.

“The AI ​​revolution in patent intelligence is not just about effectiveness; it’s about changing the way patent professionals strategize and engage across the entire patent lifecycle,” Lee said in an exclusive interview with TechCrunch. “Recognizing the intricacies of the technical and legal expertise required for patent work, we developed our platform to be an indispensable ally for patent professionals.”

Lee continued that traditional patent prosecution and litigation workflows rely heavily on manual input, which is complex and time-consuming. The research and discovery phase, which involves searching and analyzing large amounts of patent data, Significant effort was required, including Internet searches, piecemeal manual investigations, and inherently inefficient procedures. “

Lee explained that what sets the startup apart from industry peers like Anaqua, Clarivate, and Patsnap is that Patlytics is “the only provider of final draft and broad charting solutions” that currently takes an AI-first approach to insights and analytics. method.

Another difference is that the platform does not rely entirely on software solutions, but instead allows humans to be involved in the process.

Image Source: Co-founder of Patlytics: Arthur James (CTO) and Paul Lee (CEO)/Patlytics

The company recently launched its product which is SOC-2 certification, Has provided client services to some top law firms and some corporate legal firms. The company did not disclose the number of customers due to confidentiality agreements. Its target users include intellectual property law firms and companies with multiple patents.

“Protecting intellectual property remains a top priority and business requirement for information technology, physical products and biotech companies. As companies incorporate artificial intelligence into new products, companies from the automotive to pharmaceutical industries are keen to protect new inventions and be mindful of competition adversary’s infringement,” said Darian Shirazi, general partner at Gradient. “We are excited to partner with the Patlytics team as they leverage the latest transformative innovations in artificial intelligence to reshape the intellectual property protection industry.”

The company will use the proceeds to invest in product and artificial intelligence development and go-to-market capabilities, aiming to cover all relevant workflows for patent filing and litigation. Additionally, it plans to strengthen its engineering team. The company currently has 11 employees.

“We know navigating the complex IP landscape can be taxing, so our AI-integrated patent workflow is designed to increase efficiency and provide insights that turn IP protection into a force that shapes the future technology landscape,” said Jen. “We Technology is built with data security and privacy in mind, protecting sensitive information throughout the patent lifecycle.”

Other participants in the round include 8VC, Alumni Ventures, Gaingels, Joe Montana’s Liquid 2 Ventures, Position Ventures, Tribe Capital and Vermilion Ventures. It is worth noting that this round of financing also attracted many angel investors, including partners from top law firms, Datadog President Amit Agarwal, Fiscal Note founder Tim Hwang and Tapas Media founder Chang Kim.

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