DeepJudge raises $42m and lands Freshfields as a customer

Legal AI startup DeepJudge has raised $42 million in Series A funding and signed up Freshfields as a customer.

Founded by ex-Google search engineers, the Swiss-based company has developed an AI-powered knowledge search tool that makes it easier to search for and retrieve information from within a firm’s document management system, intranet and other systems - think precedents, emails and client information.

The round was led by Silicon Valley investor Felicis with continued support from existing backer Coatue. DeepJudge said the funding will allow it to invest in product innovation and scale internationally.

Freshfields signs on

Freshfields has signed on as a customer, picking DeepJudge "as a core component" of its AI and knowledge strategy, following what the firm described as a detailed evaluation process.

Gil Perez, the firm’s chief innovation officer - who joined from Deutsche Bank in a high-profile move last year - said the move reflects Freshfields’ focus on using AI to strengthen internal processes and client delivery.

"Innovation at Freshfields is about strengthening how we work and preparing for what’s next," Perez said. "DeepJudge supports that by enabling responsible, targeted use of proprietary knowledge and powering bespoke AI workflows tailored to our standards."

Market traction

DeepJudge said it has grown revenues by more than 500% over the past year. Other customers include US firms Holland & Knight, Cozen O’Connor, ArentFox Schiff and European player Schoenherr, alongside earlier adopters such as Gunderson Dettmer, CMS Switzerland, Homburger and Lenz & Staehelin.

Bigger picture

DeepJudge joins a wave of European legal tech companies announcing fundraises in recent weeks.

Litigation AI platform TrialView announced a $4.1 million round this week, Stockholm-based Vesence - which is building quality control AI tools for lawyers - raised $9 million last week, hot on the heels of legal AI platform frontrunner Legora which raised $150 million at a $1.8 billion valuation.