AI-based patent workflow platform Patlytics announced it raised $4.5 million in seed funding led by Gradient, Google’s AI-focused venture fund. Additional participating investors include 8VC, Joe Montana’s Liquid 2 Ventures, Tribe Capital, Vermilion Ventures, Gaingels, Alumni Ventures, Position Ventures, and several undisclosed angel investors, such as select partners from premier law firms and Datadog President Amit Agarwal.
Differentiating from traditional methods that depend on manual input from practitioners, Patlytics’ AI-powered platform aims to empower professionals by automating key aspects of the patent process, such as initial drafting and office action responses, infringement evaluation, advanced search, and competitor intelligence. This approach helps empower patent professionals (in-house counsels and outside attorneys).
Patlytics is working with partners across a wide spectrum, from in-house counsels for the Fortune 500 to leading law firms, including two of the top five IP-focused practices.
KEY QUOTES:
“When I was a venture capitalist, I witnessed many opportunities in the IP space when interacting with my portfolio companies. The AI revolution in patent intelligence is not just about efficiency; it’s about transforming how patent professionals strategize and engage with the entire patent lifecycle. Recognizing the intricate blend of technical and legal expertise required for patent work, we’ve developed our platform to be an indispensable ally for patent professionals.”
– Paul Lee, Co-founder and CEO of Patlytics
“Protecting intellectual property remains a major priority and business requirement for information technology, physical product, and biotechnology companies. As companies incorporate AI into their new products, companies from the automobile to the pharmaceutical industry are keen to protect new inventions and watch for infringement from competitors. We’re excited to partner with the team at Patlytics as they leverage the recent transformative innovations in AI to reinvent the intellectual property protection industry.”
– Darian Shirazi, General Partner at Gradient
“In the past, where I worked intensively with filing and defending patents to protect company technology, I’ve had the firsthand experience of working with patent professionals to handle various key aspects of the patent process. Knowing that navigating the intricate landscape of intellectual property can be laborious, our AI-integrated patent workflow aims to enhance the efficiency and provide insights, transforming IP protection into a dynamic force shaping the future technological landscape. We build our technology with data security and privacy in mind, safeguarding sensitive information throughout the patent lifecycle.”
– Arthur Jen, Co-founder and CTO of Patlytics
