AI startup by Columbia graduates raises $7 million to target midsize law firms
August, an AI startup founded by Columbia University alumni and that caters to midsize law firms, said on Tuesday it had raised $7 million in a seed funding round led by venture capital firms NEA and Pear VC.
Why it matters
AI’s ability to handle routine, document-heavy tasks is unlocking new efficiencies for lawyers, particularly because the legal field is built on vast volumes of literature such as case law, contracts and filings.
