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COMPANY: Midpage
YEAR FOUNDED: 2022
INDUSTRY: Legaltech, AI
HQ: New York, NY
FOUNDER: Otto von Zastro-Marcks
FEATURE
19 Sept 2023

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. 📚
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The Basics:

  • Headquarters: New York, NY
  • Employee Count: 8
  • Investors:

    Lea Partners and Thomas Willberger

  • Funding amount: $1.1M
  • Currently raising: $6M seed round
  • Business model: B2B SaaS
  • Early traction: Over 4,000 sign-ups with a waitlist of over 400, including notable law firms.

Due Diligence

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.

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Founder Profile

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. 🔍

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