Prime Highlights
- Moritz raised $9 million in seed funding to support expansion in the US and Europe.
- The startup uses technology-driven legal services and has completed deals worth over $2 billion.
Key Facts
- Moritz operates as a hybrid law firm linked with technology provider Parlai.
- The funding round included support from investors and founders linked to major technology companies.
Background
Moritz has secured $9 million in seed funding from investors including Y Combinator, 20VC, Urban Innovation Fund and Inception Fund as the company plans to expand its legal technology business in the US and Europe.
The startup said the funding round also received support from more than 20 unicorn founders, including the founders of Dropbox, Reddit and Instacart. The company plans to use the fresh investment to expand its services and strengthen its operations in international markets.
Moritz operates as a hybrid law firm through a management service organisation model linked with technology provider Parlai. The structure supports the company’s operational and technology functions while connecting clients with licensed lawyers through its legal network.
The startup said its lawyers have completed deals worth more than $2 billion with an average turnaround time of four hours. The company added that it aims to expand its services to more mid-sized and enterprise businesses in different countries.
Moritz also said it has hired lawyers from major international firms, including Cooley, Orrick and Clifford Chance, as part of its expansion plans. The company uses technology tools to support legal drafting, contract review and related legal processes.
San Francisco-based Moritz was founded last year by Pamir Ehsas and Stefan Mandaric. The company was earlier known as Arcline before rebranding as Moritz.
