Investments

Machine Learning Startup Streamlines Legal Work With $65M In Funding

Atrium, the startup that digitizes legal documents, announced on Monday (Sept. 10) that it has raised $65 million in venture funding.

In a blog post, Atrium Chief Executive Justin Kan said the round of funding was led by Andreessen Horowitz. Other investors to participate in the round of fundraising included General Catalyst, YC Continuity Fund and Sound Ventures. The company noted that Andrew Chen and Michael Seibel will be joining the board, and Marc Andreessen will be joining as a board observer.

“We’ve always been focused on becoming the most client-centric platform for legal applications for fast-growing companies, and it feels great that we’ve received such strong support from others,” wrote Kan in the blog post. “Andreessen Horowitz is one of the world’s most prestigious VC firms. They have backed amazing companies and founders, making early investments in companies including Airbnb, Facebook, Lyft and Skype. I’m excited to welcome three board members who I know will help accelerate the vision of our business, each in their own way.”

According to Kan, since launching the company 14 months ago, it has made “great strides,” helping more than 250 clients raise more than $500 million in primary financings. Kan noted the company has built a great team with more than 110 employees who want to see change come to the industry. He added that in the summer, Atrium acquired Tetra, the artificial intelligence company, to help build its technology platform.

“As I’ve been known to say, a round of financing isn’t a destination: It’s a means to continue to grow and deliver better service. However, this one feels especially great, and we’re thrilled our new partners will help us along our journey to make Atrium the preferred law firm for high-growth companies,” wrote Kan.

As for Marc Andreessen joining the board as an observer, Kan said he is someone he has looked up to for a long time. “I’ve always admired his strategic mind, and drive to push founders to think bigger. When I made the list of all the investors I wanted involved with Atrium, Marc was at the top,” wrote the executive.

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