– Patlytics is an AI-powered patent analytics platform co-founded by Paul Lee and Arthur Jen to help enterprises, IP professionals, and law firms speed up patent workflows.
– The startup secured $4.5 million in seed funding led by Google’s AI-focused VC arm Gradient Ventures, aiming to invest in product and AI development and expand its engineering team.
– Patlytics differentiates itself from industry peers by offering end drafts, extensive chart solutions, and a blend of software and human participation in the patent process.
Patlytics, an AI-powered patent analytics platform, aims to streamline patent workflows for enterprises, IP professionals, and law firms. The startup recently secured $4.5 million in seed funding, led by Google’s Gradient Ventures. Co-founded by CEO Paul Lee and CTO Arthur Jen, the platform was developed based on their firsthand experiences and understanding of the industry’s pain points.
The founders saw opportunities in the IP space, with Lee’s background in investing in SaaS and AI companies, and Jen’s experience with patents at Magic. They emphasize the importance of transforming patent workflows using AI technology to enhance efficiency and strategy in the patent lifecycle. Patlytics offers end drafts and extensive chart solutions, setting it apart from competitors like Anaqua and Clarivate.
The platform, which involves a mix of software solutions and human participation, is already serving top-tier law firms and in-house legal counsels. With a focus on product and AI development, the company plans to cover all relevant patent prosecution and litigation workflows. Aiming to enhance data security and privacy, the team at Patlytics is committed to safeguarding sensitive information throughout the patent lifecycle.
Investors in the company include 8VC, Alumni Ventures, Gaingels, and Joe Montana’s Liquid 2 Ventures, among others. The round also attracted angel backers from premier law firms and tech companies. Overall, Patlytics is poised to revolutionize the intellectual property protection industry with its innovative approach to patent analytics and AI integration.