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Patlytics raises $14M for its patent analytics platform
For decades, patents have been a contentious issue in the technology world, viewed by some as a means to safeguard intellectual property, while others see them as a blunt instrument against innovation. In the era of AI, they are once again under scrutiny.
New York-based startup Patlytics has developed an AI-enabled patent analytics platform to help corporations, IP professionals and law firms streamline their patent workflows from discovery, analytics, comparison, and prosecution to litigation. The Google-backed startup announced on Monday that it had closed $14 million in a Series A funding round.
The startup plans to utilize the new funds to scale sales and increase its investments in product development, including hiring more engineers and expanding into various modules that the company currently offers. Since April 2024, Patlytics has doubled its employee count, increasing from 11 to meet customer demand.
Eric Lin, who boasts over 10 years of experience as an IP litigator at law firms, including Paul Hastings, Morrison & Foerster, and Baker Botts, will join the Patlytics leadership team as vice president of strategy for the company’s next phase of growth.
