Leya raises $10.5 million for the development of its legal AI tool

Leya has raised $10.5 million (€9.7 million) for the development of its legal AI tool. The round was led by Benchmark with participation from Hummingbird, SV Angel, and Y-Combinator.

Leya Founders (image): Sigge Labor, Max Junestrand and August Erseus.

Legal tool

Pérez-Llorca was the first law firm to integrate this Swedish tool. From Iberian Lawyer, we advance the reasons for the decision to integrate this tool in the firm, from the hand of the head of knowledge management, Marisa Delgado. Although other law firms have opted for other tools, such as the American Harvey.

“At Leya, we conceive AI not as a mere addition to the lawyers’ workflow, but as a partner that will work on their behalf in a reliable way. Our AI system takes care of simple knowledge work, freeing lawyers to focus on what they do best; high-level strategy, creativity and problem solving,” they have shared from

Leya

Specifically, Leya directly accesses files and documents where they are located. It then combines them with legal data from more than 15 jurisdictions, always providing sentence-level citations and references to the underlying material in its results; both in Due Diligence reviews, conversations and when editing or reviewing documents directly.

Engineers from the best AI research labs with technology-savvy lawyers

To develop this reliable, efficient and cutting-edge AI, they have brought together engineers from the best AI research labs with technology-savvy lawyers from the world’s most prestigious law firms. “This unique combination of talent allows us to innovate, create highly regarded products and prioritize the needs of our users.” Now, with the backing of their investors, they are expanding their team, deepening their partnerships and building the future of legal work.