America’s top 100 law firms made a combined $69 billion in profit last year, greater than Google’s R&D budget. Every cent was paid out to the firms’ partners as compensation.
Imagine if, instead, law firms reinvested these profits back into their businesses. Imagine the kinds of innovations they could offer their lawyers and clients.
This is the vision for Crosby. It’s a vision for a new type of law firm.
Providing blazing fast, accurate contract reviews is our primary goal.
But as we’ve scaled, we’ve also started experimenting with entirely new technology experiences. A simulation of how a counterparty will respond to our redlines; voice agents that negotiate on behalf of clients; a platform for clients to oversee, and weigh in on, Crosby’s work.
These are ambitious ideas that require capital, and today we’re announcing that we raised an additional round of funding. Our $60 million Series B was led by Lux and Index, with participation from Sequoia, Elad Gil, 01 Advisors and Bain Capital Ventures.
Crosby is a vertically integrated AI-native law firm, not merely an AI tool. We stand behind our work and take liability for it. But we are also committed to deep technical research that improves our lawyers’ and our clients’ lives.
In short, we’re building a new type of law firm. It’s where you get better quality work, faster. The dream law firm.
John & Ryan