Darrow, a New York-based company that has developed an AI-based data engine that ingests large amounts of publicly available documents to search for class action litigation potential across areas like data privacy violations and environmental contamination, has raised $35 million in Series B funding.
SaaS Investors
The round was led by Georgian, with F2 and previous backers Entrée Capital and NFX also participating.
Georgian is a growth equity firm investing in expansion and later-stage information-intensive software and information aggregation companies. It leverages its capital and its team of strong global operators to support the growth objectives of its investments. The firm seeks to invest in the business software, artificial intelligence, and information technology sectors. The company was founded in 2008 and is based in Toronto, Ontario.
Darrow Use of Funds
The company plans to use the funding to hire engineers and business development talent, expand its technology assets, and add new areas of focus to its search and analytics tools.
About Darrow
Founded in 2020 by Ben Artzi and Gila Hayat, Darrow is an innovative company specializing in the AI-powered justice intelligence field. Their platform meticulously analyzes both real-world data and legal information to identify harmful incidents, estimate the number of affected individuals, predict case outcomes, and evaluate financial implications. Headquartered in New York with offices also in Tel Aviv, Darrow operates at the intersection of technology and law, harnessing AI to enhance the legal landscape.
Funding Details
Company: Darrow Inc.
Raised: $35.0M
Round: Unknown
Funding Month: September 2023
Lead Investors: Georgian
Additional Investors: F2, Entrée Capital, NFX
Company Website: https://www.darrow.ai/
Software Category: AI-powered Justice Intelligence Platform
Source: https://techcrunch.com/2023/09/19/darrow-legal-tech/