Theo Ai, a California-founded AI litigation prediction startup, has raised a $4.2m seed round, just six months after its $2.2m pre-seed announcement in November. The round was co-led by returning investor NextView Ventures and new investor Collide Capital. As part of the investment, Aaron Samuels, general partner at Collide Capital, will join Theo Ai’s board.
“The legal industry is at a turning point, and AI-powered predictions are becoming essential for managing client expectations and executive decision-making,” said Patrick Ip, co-founder and CEO of Theo Ai. “With this investment, we will continue to develop the infrastructure that makes settlement predictions more precise and valuable for law firms and corporate legal teams.”
Theo Ai says it will use the new capital to accelerate product development, focusing on its AI-powered settlement prediction tools tailored for big law firms and general counsel. The company plans to build firm-specific prediction engines that leverage case history and proprietary data.
The funding round also marks the expansion of TheoAi’s leadership team with the appointment of Jay Mandal as chief product officer. A Stanford Law Lecturer and former COO at SAP, Mandal brings expertise in AI, enterprise technology, and legal innovation. He previously was the head M&A attorney at Apple and founded Law Pivot, a legal tech company acquired by Rocket Lawyer. The company also welcomed Rob Martorana as head of partnerships. A former attorney with over 25 years in legal sales and marketing, including 12 years in litigation finance, Martorana brings expertise across portfolio, single-case, and corporate monetization strategies. He most recently founded REMO Litigation Finance and served as SVP at Burford Capital.
Theo Ai initially launched by helping litigation funders optimize their investment decisions – recently partnering with Mustang Litigation Funding – and we’re told has rapidly expanded into serving Big Law and in-house legal teams.
While Theo Ai says it has created the world’s first prediction engine to forecast the outcome of your legal dispute, it is important to remember that litigation has been at the forefront of predictive analytics, including leveraging AI, for many years. Lex Machina (acquired by LexisNexis) and Pre/Dicta are among the companies that help attorneys to predict the outcome of their case.
To find out more about Theo Ai go to https://theoai.ai/