Our Series A announcement – A letter from the founders.

DraftWise Founders
March 14, 2024

We are thrilled to share the news – we raised our Series A! The $20M round was led by Index Ventures, with additional support from Y Combinator and Earlybird Digital East Ventures – you can read more about the round in our company announcement

Powerful AI built for lawyers

We founded DraftWise because we were certain that the legal industry was ripe for a data revolution.

Law firms sit on mountains of data—decades of deal history, the latest market trends, and client and counterparty-favored terms. This data – the firm’s institutional knowledge – is what makes a firm competitive and carries the firm’s book of business decade after decade. Yet, lawyers are left to rely on a heroic ability to recall deal minutia or comb through closing folders to access that data. 

The past year was met with an influx of legal vendors white-labeling GPT’s basic capabilities and promoting access to unstructured public data as a means of improving the contract drafting experience. But public data pulled from random sources serves little purpose for a lawyer. 

Few companies are solving the concrete problems that transactional lawyers face when drafting and negotiating contracts. And even fewer are building their platforms into the day-to-day workflows of the lawyers they want using their products. 

For too long, legal technology has been synonymous with shelfware.

At DraftWise, we’re building a platform that reflects the way lawyers think and work. Our powerful gen AI, applied securely to a firm’s institutional knowledge, steps in to close existing knowledge gaps in the contracting process — so that lawyers can spend their time where it’s most valuable.

Our team uniquely pairs world-class AI and engineering capabilities with deep industry expertise and an extensive history of building secure systems. By design, DraftWise meets law firms where they're at, and that’s why we've made it off the shelf and into the hands of the best lawyers leading negotiations in legal.

Battle-tested by the best lawyers in the industry

We work with some of the biggest names in the industry, including Orrick, Herrington & Sutcliffe LLP, Gunderson Dettmer LLP, Katten Muchin Rosenman LLP, Womble Bond Dickinson (US) LLP, and Mishcon de Reya LLP, and other Vault 10, AM Law 100, Magic Circle, and Seven Sisters ranked firms.

The world’s leading law firms partner with DraftWise because we create unprecedented leverage for their transactional teams. 

With DraftWise, law firms unlock the ability to spot small errors that can have outsized operational and financial costs, and free up partners and senior lawyers who might otherwise spend time supervising associate work, so they can spend more of their time advising clients on strategic matters and providing the best service for the firm’s clients.

DraftWise empowers firms to maximize impact where it truly matters.

The differentiated needs of the world’s best law firms are built into the DNA of our product and our company values. Our platform is designed to improve the quality of work products, support high-stakes deals, and empower the caliber of lawyers that is touted at Big Law firms. 

What’s next at DraftWise

As we forge ahead, we will scale the DraftWise platform. And not for the sake of building new tech, but because we’re reshaping the landscape of transactional law. We’ve successfully created differentiated legal software and we’re committed to supporting our customers, both existing and future, as they actualize their goals with our platform.

We are forever indebted to our earliest champions – the investors, ​including Y Combinator, Earlybird Digital East Ventures, Global Founders Capital, Formus Capital, and our angel investors, design partners, advocates, and employees who showed up day after day to help us realize all that DraftWise could be. We thank you for your early support and trust in what we’re building. 

There’s no slowing down now – we can’t wait to share more about what’s next at DraftWise.

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