Document review startup Della has raised $2.5 million from new and existing investors, after closing its first seed funding round. New investor Pragmatech Ventures joins Thibault Poutrel, Frederic Montagnon and other international investors, who have supported Della since its launch.
The funds will be used to grow Della’s presence in Europe and the USA, and enhance its AI capabilities, which make the process of reviewing documents faster and more efficient. Della’s platform launched in January 2020 and is being used by small and large law firms across multiple countries, including Mishcon de Reya LLP, Eversheds Sutherland, Fidal, and several large multinational, enterprise organizations.
Christophe Frèrebeau, CEO and co-founder of Della, said: “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. AI has moved up the value chain in legal, and users just don’t want to use pre-trained, customized AI, 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 AI to help with more and more complex tasks.”
Evgeny Sergeev, founder and General Partner at Pragmatech Ventures and CEO of iDeals, comments: “Della is redefining what people think legal tech can do, and we look forward to helping Della continue its impressive growth. We will be supporting Christophe and the team across a wide range of tasks, from hiring to operations.
“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 both law firms and corporate legal teams globally, and we plan to spend a significant amount of time with the company and its management team to help them on their journey.”