Noetica AI, an AI-powered software platform designed to benchmark deal terms, has raised $22 million led by Lightspeed Venture Partners.
The Series A VC funding round saw participation from Thompson Reuters Ventures, Bling Capital, Flybridge Capital, Company Ventures, and TheLegalTech Fund. This funding round will support Noetica’s target to deliver advanced capital markets insights to top law firms and financial institutions.
Since its launch less than 18 months ago, Noetica has processed over $350 billion in transactions with a database containing more than 100 million indexed terms. The AI platform is already used by 10 of the top 25 law firms, making it one of the most relied-upon data resources in the industry.
Justin Overdorff, Partner at Lightspeed Venture Partners, said: “Noetica’s specialized modeling and data-driven approach makes the platform extremely valuable to the highest caliber deal professionals. Their rapid growth is a testament to the power of their data and the immediate impact it has on market participants.”
Dan Wertman, CEO of Noetica AI, emphasized the importance of data in capital markets deals, stating, “Noetica’s platform has become a go-to resource for firms handling the most significant transactions in such a short time.”
The company plans to use the new capital to expand its platform and customer base while actively hiring across engineering, AI, sales, and other roles.
Lightspeed Venture Partners is a global venture capital firm specializing in early and growth-stage investments across sectors like Enterprise, Consumer, Health, and Fintech. Lightspeed has supported over 500 companies worldwide, including major players like Affirm, Epic Games, and Snap, and manages $25 billion in assets.
