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ROSS Intelligence secures US$8.7 million in funding

Friday, October 13, 2017 @ 12:08 PM | By Carolyn Gruske

ROSS Intelligence has raised US$8.7 million from investors for its Series A funding round.

The list of investors, led by iNovia Capital, includes Dentons' NextLaw Labs, which is the legal innovation development platform of the law firm. Previously, ROSS, which was founded in Toronto, obtained US$4.3 million in its seed funding round.

The company, which incorporates artificial intelligence (AI) into legal research software, also announced that the outgoing dean of Northwestern University's Pritzker School of Law, Daniel Rodriguez, will be joining ROSS in an advisory capacity. He will focus on ROSS’ law school expansion and access to justice initiatives.

ROSS was founded two years ago by Andrew Arruda, Jimoh Ovbiagele and Pargles Dall’Oglio at the University of Toronto.

“Our goal is to continue to bring the power of artificial intelligence to the legal industry allowing lawyers to enhance and scale their abilities and do more than ever before humanly possible,” said Arruda, CEO of ROSS Intelligence. “This latest financing gives us the ability to continue our aggressive expansion, add great talent to our growing world class team, innovate rapidly and deliver on our vision into the future.”

Over the last year, ROSS added staff to its San Francisco and New York offices and launched its AI R&D headquarters in Toronto.

“As demonstrated by their technological success and commercial leadership in the legal space, ROSS Intelligence is clearly the market leader in the development of artificial intelligence applications for the law,” said Karam Nijjar, partner at iNovia Capital.

“iNovia’s participation from the very earliest days of ROSS Intelligence, when the founders worked out of a basement of Toronto, has allowed us to help shape and guide the company as it’s grown from success to success. We’re thrilled to be leading this Series A financing round to provide the ROSS Intelligence team with the firepower to rapidly scale their technical and sales expertise while expanding into the Fortune 500 legal market and beyond."