Proof Technology has secured $30.4 million in Series B funding to advance its online litigation services marketplace.
This investment will enable the legal technology company to scale its platform for legal document serving, eFiling and other litigation services, Proof Technology said in a Friday (Jan. 26) press release.
Proof Technology’s litigation services marketplace offers law firms and government agencies document delivery through a nationwide network of process servers, electronic court filing services and remote notarization, according to the release.
Currently, the platform serves more than 5,000 law firms and government agencies and helps them deliver or eFile nearly 20,000 documents each month, the release said.
One of Proof’s advantages is its ability to process documents with higher delivery success rates and within shorter time frames compared to industry averages, per the release. This is made possible through its network of process servers located across the country and within U.S. territories.
Eric Voogt, founder and CEO of Proof Technology, said in the release that he envisions the company as the go-to online marketplace for lawyers seeking all litigation services that require human intervention.
Since its inception, Proof has simplified the process of serving and filing legal documents, reducing the time and hassle involved in these tasks, according to the press release.
Proof Technology’s proprietary artificial intelligence (AI)-powered technology also plays a crucial role in the platform, the release said. It analyzes uploaded legal documents to capture essential information such as court location, involved parties, documents to deliver and applicable rules. This information is then used to identify and locate the most suitable process server to deliver the documents.
With the new funding, Proof Technology plans to accelerate revenue growth, expand electronic filing capabilities, enhance integrations with legal industry case management software and further leverage AI to create additional efficiencies for its users, per the release.
PYMNTS Intelligence has found that generative AI has the potential to accelerate the completion of tasks in the legal industry without diluting quality.
The technology can help law firms meet the market’s increasing demand for transparency and efficiency, according to “The Confluence of Law and AI: An Inevitability Waiting to Happen,” a PYMNTS Intelligence and AI-ID collaboration.
In another recent development in this space, online payments firm AffiniPay said Wednesday (Jan. 24) that it has embedded generative AI into its legal technology offerings to help legal professionals boost productivity.
AffiniPay’s tools offer document summarization capabilities and AI-powered text editing. Other planned features include a case and firm search solution, as well as automation tools for creating workflows, sending payments and opening files.