One of the newest ‘law tech’ artificial intelligence ventures has raised $65m (£49.6m) from leading Silicon Valley figures in the latest rush to invest in the sector. 

Atrium, a legal services firm developing its own AI, was co-founded in 2017 by serial entrepreneur Justin Kan. The cash was raised in a funding round led by Silicon Valley’s Andreessen Horowitz, a firm founded by Marc Andreessen, co-creator of the first web browser, Mosaic. Atrium, which uses machine learning to analyse documents, has also acquired Tetra, an AI system for taking notes on phone calls. It plans to license its technology to other law firms. 

Atrium founder Justin Kan posted: ‘A round of financing isn’t a destination: it’s a means to continue to grow and deliver better service.’

The involvement of Silicon Valley investors and Big Four consultancies marks a change of pace in the law tech sector. Earlier this month Kira Systems, the developer of a system for automatically reviewing contracts with AI, announced that it had secured $50m (£38.6m) from a venture capital fund.