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Patlytics raises $14M for its patent analytics platform
New York-based startup Patlytics has secured a massive $14 million in Series A funding to accelerate the growth of its AI-enabled patent analytics platform. The investment, led by Next47 and with participation from existing investors Google’s Gradient, 8VC, Alumni Ventures, Liquid 2 Ventures, and Myriad Venture Partners, brings the company’s total raised to a whopping $21 million.
Patlytics’ innovative solution aims to revolutionize the patent landscape by providing corporations, IP professionals, and law firms with an efficient and cost-effective way to conduct technical discovery. This typically requires expensive experts and countless attorney hours, but Patlytics is poised to disrupt this status quo.
The platform can automatically generate detailed claim charts for validity and infringement purposes, ensuring that parties involved in patent conflict resolution have access to critical information without the need for extensive expert analysis. This goal of facilitating negotiations, transactions, settlements, and more efficient litigation resonates with stakeholders seeking to minimize gaps and discrepancies in understanding.
In a press release announcing the funding, Patlytics emphasized its commitment to scaling sales and product development while expanding its offerings through strategic hiring and partnerships. The company has already doubled its workforce since April 2024, growing from 11 employees to meet the increasing demand for its innovative solutions.
To further support this growth trajectory, Eric Lin will join Patlytics as Vice President of Strategy. Lin boasts over a decade of experience as an IP litigator at prominent law firms such as Paul Hastings, Morrison & Foerster, and Baker Botts.
Patlytics’ advisory board member, Bob Steinberg, chair of the Patent Trial and Appeal Board (PTAB) Practice at Latham & Watkins, believes that Patlytics is poised to make a significant impact by bridging the gap between technical discovery and litigation. This unbiased analysis will enable parties involved in patent disputes to have cost-effective access to critical information, ultimately minimizing the need for extensive expert analysis.
In related news, the company has expanded its operations into South Korea and Japan, while also launching its first pilot product in London and Germany. Notable clients include Abnormal Security, Google, Koch Disruptive Technologies, Quinn Emanuel Urquhart & Sullivan, Richardson Oliver, Reichman Jorgensen Lehman & Feldberg, Xerox, and Young Basile.
Patlytics will use the freshly secured funds to scale sales efforts and continue investing in product development.
