Doctrine has successfully raised $12.3 million over two funding rounds, establishing itself as a key player in the legal tech industry. The platform leverages artificial intelligence to streamline legal research and analytics for professionals.
Keep reading to explore the intricacies of Doctrine's fundraising journey and the investors backing this innovative platform.
What Is Doctrine?
Doctrine, founded by Nicolas Bustamante, is a Paris-based company that leverages artificial intelligence to provide legal research and analytics software for legal professionals. The platform aims to streamline case handling and business growth for its users.
Established with a mission to advance open justice globally, Doctrine has grown to employ between 51 and 200 people. The company focuses on automating repetitive legal tasks, thereby enhancing productivity and ensuring the security of legal positions.
For more information about Doctrine, visit their official website or explore career opportunities on their Wellfound page.
How Much Funding Has Doctrine Raised?
- Seed Funding Round
- Amount Raised: $2.2 million
- Date: October 2016
- Lead Investors: Otium Venture, Kima Ventures, The Family
- Motivation Behind the Round: To expand the team to 25 employees and develop R&D efforts, aiming to become the leader in the French market before international expansion.
- Series A Funding Round
- Amount Raised: $11.6 million
- Date: June 2018
- Lead Investors: Otium Venture, Xavier Niel
- Motivation Behind the Round: To build and enhance a search engine for court decisions and other legal texts, and to support the company's growth and hiring plans.
Total Amount Raised: $13.8 million
Current Valuation: $50 million (~estimated)
Key Investors
- Otium Venture
- Details: Otium Venture is a venture capital firm that invests in early-stage startups. They have a strong focus on supporting innovative and high-growth potential companies.
- Investment Focus Areas: Technology, innovative startups, early-stage companies
- Notable Investments: Not specified
- Xavier Niel
- Details: Xavier Niel is a French entrepreneur and businessman, known for his significant contributions to the technology and telecommunications sectors. He is also a prolific investor in various tech startups.
- Investment Focus Areas: Technology, telecommunications, innovative startups
- Notable Investments: Not specified
- Kima Ventures
- Details: Kima Ventures is a venture capital firm that invests in a wide range of startups across various sectors. They are known for their extensive portfolio and early-stage investments.
- Investment Focus Areas: Technology, digital media, innovative startups
- Notable Investments: Not specified
- The Family
- Details: The Family is an investment firm that supports and invests in startups with innovative business models. They provide resources and mentorship to help startups grow.
- Investment Focus Areas: Technology, innovative business models, early-stage startups
- Notable Investments: Not specified
- Oleg Tscheltzoff
- Details: Oleg Tscheltzoff is the co-founder of Fotolia, a stock photo company. He is an individual investor with a background in digital media and technology.
- Investment Focus Areas: Digital media, technology, innovative startups
- Notable Investments: Fotolia
What's Next for Doctrine?
Doctrine stands at the cusp of significant growth opportunities, driven by the increasing demand for efficient legal data management. With the legal industry moving towards open data and automation, Doctrine's advanced AI capabilities position it well to capitalize on these trends. The platform's ability to provide a superior search engine for court decisions and legal texts offers a substantial market presence, currently serving a thousand companies.
As Doctrine continues to expand, future fundraising rounds are likely to support its ambitious plans, including hiring 160 new employees and enhancing its technology. However, challenges such as competition from established players like Dalloz and LexisNexis, and the need to anonymize court decisions, remain. Navigating these hurdles will be crucial for Doctrine's sustained growth and success in the evolving legal tech landscape.
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