Solve Intelligence has successfully raised $40 million in a Series B funding round to expand its AI-driven patent management solutions globally.

Information on the Target

Solve Intelligence is an innovative AI platform designed specifically to assist legal professionals throughout the patent process. The company has gathered a top-tier team consisting of patent attorneys, artificial intelligence PhDs, and software engineers to create various tools that enhance efficiency and accuracy in patent application drafting, office action responses, invention harvesting, claim charting, infringement analysis, freedom-to-operate (FTO) assessments, and patent litigation. Currently, over 400 Intellectual Property (IP) firms and corporate legal teams utilize Solve's secure and confidential software.

Since its inception, Solve Intelligence has experienced remarkable growth, with an average annual recurring revenue (ARR) growth exceeding 10 times that of the previous year, reaching eight figures. The company has already achieved profitability, generating more cash than it has raised to date. Notably, its customers report efficiency and quality improvements ranging from 60% to 90%, underlining the platform's effectiveness in streamlining patent-related processes.

Industry Overview in the US

The Intellectual Property industry in the United States has seen considerable advancements, particularly in recent years, as technological innovations drive demand for patent protection and associated legal services. The proliferation of AI and machine learning technologi