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.
Bulleted Version:
- Think of Midpage as GPT meets a legal library: harnessing data and an AI model to guide research and draft case documents. 📚
The Basics
- Headquarters: New York, NY
- Employee Count: 8
- Investors:
- Funding amount: $1.1M
- Business model: B2B SaaS
- Early traction: Over 4,000 sign-ups with a waitlist of over 400, including notable law firms.
Due Dilligence
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.
Why Midpage
Combining AI with an expansive legal database, Midpage offers litigators an unparalleled advantage in research and drafting, truly raising the bar in the legal tech market. 🔍