Sapphire Ventures leads new investment in AI-native platform that enables law firms to deliver improved outcomes for clients, including a recent $495 million landmark settlement in Missouri

August 27, 2024 09:01 AM Eastern Daylight Time

SEATTLE–(BUSINESS WIRE)–Supio, a purpose-built AI platform trusted by personal injury and mass tort plaintiff law firms to provide crucial insights at the most critical moments in their case, emerged today from stealth and announced an oversubscribed $25 million Series A led by Sapphire Ventures, with participation from existing investors Bonfire Ventures and Foothill Ventures. The new investment brings Supio’s total funding to date to $33 million.

“Supio was instrumental for our trial team in preparing for and winning our recent case against Abbott Labs, proving their preterm formula contributed to a dangerous and often deadly bowel disease in a premature infant”Post this

Supio serves the personal injury and mass tort plaintiff law sectors by automating the understanding of complex, unstructured data collection. This process previously took legal teams days, weeks, or months to preprocess information with no way to access the critical information when it was most needed. By focusing on personal injury and mass tort plaintiff law, Supio leverages Large Language Models (LLMs) to structure data in a closed and secure environment that performs at better than human levels of accuracy, without hallucinations. Supio provides legal teams with a reliable, interactive platform with an AI-powered chatbot that can be used throughout the entire litigation lifecycle. Lawyers trust Supio to provide live, accurate insights while in court to help them win their cases.

“We built Supio specifically to help personal injury and mass tort plaintiff lawyers gain an edge in litigation by making data readily accessible and actionable, whether they’re in the earliest days of building a case, or litigating in a courtroom,” said Jerry Zhou, co-founder and CEO of Supio. “Most lawyers are data-rich and time-starved, but Supio automates time-sapping manual processes and empowers them to identify critical information to prove and expedite their cases. Because each week, month, or year that drags on waiting for a case to come together is time someone in a likely vulnerable state is not compensated. We think that’s absurd, unfair and often painful.”

TorHoerman Law recently represented the plaintiff in a bellwether case brought against Abbott Labs that resulted in the healthcare company being ordered to pay $495 million in compensatory and punitive damages.

“Supio was instrumental for our trial team in preparing for and winning our recent case against Abbott Labs, proving their preterm formula contributed to a dangerous and often deadly bowel disease in a premature infant,” said Tyler Schneider of TorHoerman Law. “Our case involved over 40,000 pages of medical records. Supio enabled us to quickly and accurately identify critical data. It has greatly improved our litigation processes and our ability to deliver justice for our clients.”

Founded in 2021 by former Microsoft engineers Jerry Zhou and Kyle Lam, Supio partnered with leading personal injury and mass tort plaintiff law firms to build a solution and deliver the tools, resources and insights these lawyers need. Supio has helped large and mid-sized law firms service over 3000 cases in the past year. Customers pay a subscription fee based on case volume. Many regularly report that Supio empowers them to eradicate case backlogs and have shared their ability to discover facts or evidence on the platform was pivotal to winning and delivering the justice their clients deserve.

“While AI is now ubiquitous, true AI-first companies are rare. Jerry and Kyle have taken a LLM-centric approach to the platform from day one and we believe it’s evident in all aspects of the offering,” said Rajeev Dham, partner at Sapphire Ventures and new Supio board member. “As they just demonstrated with TorHoerman last month, they are helping law firms and their clients level the playing field in a meaningful way. We believe there is ample room to scale their SaaS solution beyond personal injury and mass tort to every legal practice.”

About Supio
Supio is an AI software tailored for law firms to analyze complex records, summarize depositions, deep dive into witness testimonies or expert reports, and prepare for trials. Supio’s AI technology leverages Large Language Models (LLMs) trained on specific data sets for personal injury and mass tort cases to create outputs at human levels of accuracy, faster and more efficiently. Supio’s AI technology understands and extracts structured medical data and other case records to generate cost-effective legal documents, medical chronologies, and an interactive AI chat bot that enables firms to access case insights within seconds.

About Sapphire Ventures
Sapphire is a global software venture capital firm with $10+ billion in AUM and team members across Austin, London, Menlo Park and San Francisco. For over a decade, Sapphire has partnered with visionary management teams and venture funds to back companies of consequence. Since its founding, Sapphire has invested in more than 170 companies globally resulting in more than 30 Public Listings and 45 acquisitions. The firm’s investment strategies — Sapphire Ventures, Sapphire Partners and Sapphire Sport — are focused on scaling companies and venture funds, elevating them to become category leaders. Sapphire’s Portfolio Growth team of experienced operators delivers a strategic blend of value-add services, tools and resources designed to support portfolio company leaders as they scale.

About Bonfire Ventures
Bonfire Ventures is an early-stage venture capital firm that leads seed rounds and invests exclusively in the B2B software sector. With over $800M under management, Bonfire backs extraordinary founders and aspires to serve as their most trusted advisors. Known for their hands-on approach, Bonfire is regularly named one of the best seed stage VC firms by founders. Notable investments include TaxJar (acquired by Stripe), The Trade Desk (IPO), Boulevard, Figment, Topline Pro, Wildfire and OpenPath (acquired by Motorola). For more information on Bonfire Ventures, visit www.bonfirevc.com.

Contacts

Media:
Whitney Topping
whitney@walkercomms.com

(c)2024 Business Wire, Inc., All rights reserved.