Supio Raises $60M to Revolutionize Legal Analysis with AI

Supio Secures $60 Million to Advance AI-Powered Legal Data Analysis

Supio, a company developing AI solutions for automating data gathering and analysis within legal teams, has successfully closed a $60 million funding round. This investment was spearheaded by Sapphire Ventures, with additional participation from Mayfield and Thomson Reuters Ventures.

Funding and Expansion Plans

This latest round of funding elevates Supio’s total raised capital to $91 million. According to co-founder and CEO Jerry Zhou, the funds will be allocated towards accelerating growth initiatives, expanding the company’s workforce, and bolstering go-to-market strategies.

Plans include expanding the current headquarters in Seattle and establishing a new office location. The company anticipates approximately doubling its current team of 100 employees.

The Growing AI Legal Tech Landscape

Supio is positioned within a rapidly expanding market of startups competing to serve the legal industry with AI-driven solutions. Despite some existing skepticism regarding the capabilities of AI in performing complex legal tasks, law firms are increasingly recognizing the need to adopt these technologies to maintain a competitive edge.

Recent data indicates a significant increase in AI adoption within the legal profession, nearly tripling from 11% in 2023 to 30% in 2024, as reported by a recent industry survey.

Company Origins and Core Focus

The inception of Supio followed the departure of Jerry Zhou and Kyle Lam, longtime friends and former colleagues at Avalara, a tax compliance software company. They identified a significant opportunity to revolutionize document interaction and workflow.

Zhou explained that legal professionals, including attorneys and paralegals, routinely dedicate substantial time to the manual review of extensive documentation, such as medical records, police reports, and expert testimonies.

Supio’s primary product is designed to provide these users with a comprehensive understanding of their complex and unstructured data.

Platform Features and Accuracy

Supio specializes in serving the personal injury law sector, offering an AI-powered platform that integrates with existing law firm file systems to streamline case management processes.

To mitigate potential errors inherent in AI systems and ensure a high degree of accuracy, Supio incorporates a “human verification” process.

“We prioritize specialized AI model development and rigorous quality control at both the document and data levels,” Zhou stated. “Our legal AI currently supports over 114 case types, with this number continually expanding in collaboration with our clientele.”

Recent Growth and Client Base

Zhou reports a year of substantial success for Supio. Both annual recurring revenue and the company’s customer base have experienced a fourfold increase.

Current clients include prominent firms such as Hughes & Coleman, Daniel Stark, Thomas Law Offices, Whitley Law, and other firms specializing in personal injury and mass tort litigation.

Leadership Appointments and Future Outlook

To facilitate this growth and prepare for future expansion, Supio has recently appointed new leaders for sales, customer success, and marketing and advertising.

“AI represents a pivotal moment for the legal industry,” Zhou emphasized. “Firms across all legal specialties are actively considering how they must adapt for the AI era. Just as Excel transformed the finance industry three decades ago, AI is poised to have a similar impact on legal knowledge workers.”