Legal AI startup Atrium LTS, which was founded by Twitch co-founder Justin Kan has raised $65 million.
the latest round was led by Andreessen Horowitz and saw particpation from General Catalyst, YC’s Continuity Fund and Ashton Kutcher’s Sound Ventures.
With the new funding, Andreessen Horowitz’s Andrew Chen is taking a board seat at Atrium and Marc Andreessen is joining as a board observer. Y Combinator partner Michael Seibel will also join the board of Atrium, a YC alumnus that came out of stealth last year.
Atrium LTS uses machine learning to automate legal tasks for startups in a bid to reduce their costs. The legal startup digitizes legal documents and builds applications on top to speed up fundraising, commercial contracts, equity distribution and employment issues. For example, one of its apps automatically turns startup funding documents into Excel cap tables.
The startup has also reportedly acquired fellow YC alumnus Tetra, based in San Francisco, for an undisclosed amount. The smaller startup, which uses AI to analyze voice data, had raised $1.5 million. Kan told TechCrunch that the acquisition will “help us build our platform that understands and structures data.”