How much did Precedent raise?

Precedent raised $9 Million in a Seed round on June 14, 2023.

Who invested in Precedent?

Adir Ventures is named as investors in this round.

Who are the decision-makers at Precedent?

Fundz holds 1 contact at Precedent. Names and contact details are shown to Fundz members.

Precedent Closes $9 Million In Seed Funding Round As It Introduces Capability To Digitize Demand Handling

PRIVATEJun 14, 2023

Amount Raised

$9 Million

Round Type

Seed

CharlotteSoftwareArtificial IntelligenceMachine LearningLegalLegal Tech

Investors

Adir Ventures

Description

Precedent, the insurance industry's first Digitized Demand Handling technology, announced today that it has closed $9 million in Seed funding, provided by Adir Ventures (Adir). The new capital will be used to bring Precedent's suite of products to more insurers as well as broaden and accelerate new product development.

Quick answer

Precedent raised $9 Million in a Seed round, dated June 14, 2023. Investors: Adir Ventures. Precedent is based in Charlotte, North Carolina, United States.

How much did Precedent raise?: Precedent raised $9 Million in a Seed round on June 14, 2023.
Who invested in Precedent?: Adir Ventures is named as investors in this round.
What does Precedent do?: Grant Little, former National General CIO, and Jim Andrews, former CRO of Carpe Data, founded Precedent to streamline the communication processes between attorneys and insurance carriers.
Where is Precedent based and how big is it?: Precedent is based in Charlotte, North Carolina, United States.
Who are the decision-makers at Precedent?: Fundz holds 1 contact at Precedent. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Legal and Legal Tech around the same time

Companies in the same sectors as Precedent that raised within 45 days of this round, from Fundz verified event records.

Parrot AI raised $11M (Series A) on June 20, 2023.
Akkio raised $15M (Funding Round) on July 26, 2023.
HumanFirst raised $5M (Funding Round) on July 26, 2023.
Insight7 raised an undisclosed amount (Pre-Seed) on July 25, 2023.
Dayta AI raised an undisclosed amount (Series A) on July 21, 2023.
Terrific raised an undisclosed amount (Funding Round) on July 20, 2023.

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Company Information

Company

Precedent

Location

Charlotte, North Carolina, United States

About

Grant Little, former National General CIO, and Jim Andrews, former CRO of Carpe Data, founded Precedent to streamline the communication processes between attorneys and insurance carriers. This initiative was spurred by a five-year trend showing injury claims severity had escalated four times faster than inflation. Much of the excess severity is the result of failures in the claims handling process caused by easily missed information hidden within scanned images of faxes, mail, and email from plaintiff's attorneys. Using the latest technology in Artificial Intelligence (AI), Machine Learning (ML), and Large Language Models (LLM) Precedent empowers carriers with the tools they need to systematically manage their attorney repped injury claims. Precedent's vision is to be the foundation for all attorney-carrier interactions. Precedent's technology seamlessly integrates with carriers existing document ingestion processes and can proactively push the extracted intelligence into core claim systems, injury evaluation software, and litigation management systems. This saves manual work and creates consistency and accuracy in a domain where mistakes can be costly. https://www.Precedent.com.

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Precedent raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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