Ex-OpenAI counsel raises $9M from YC and 20VC in four days for AI law firm Moritz
Former OpenAI counsel Pamir Ehsas raised $9M in four days for his AI law firm Moritz, led by Y Combinator and 20VC.Summary
Pamir Ehsas, former outside counsel to OpenAI, founded Moritz to address the slow and expensive legal industry. Co-founded with Stefan Mandaric, the firm raised $9 million in an oversubscribed round led by Y Combinator and 20VC in just four days. Initially aiming for $3 million, they cancelled most meetings after hitting their goal on the first day. Moritz uses AI for drafting and research, reviewed by a network of over 50 lawyers, offering flat-fee quotes and full attorney liability. The firm recently drafted a $290 million agreement in 24 hours, compared to a traditional firm's four weeks. In its first three months, it helped over 100 companies close deals worth over $2 billion. The new funding will expand its lawyer network and AI workflows.
(Source：Techfundingnews)
