Harvey and Legora have captured the global enterprise legal AI market. But, according to Parachute co-founder Ryan Zahrai, they’re ignoring 80% of Australian law firms.
Before founding Parachute, Zahrai was running his own legal practice, Zed Law, where he realised two things: one, he didn’t want to pay “stupid amounts to Harvey”, and two, they wouldn’t give him the attention he wanted as he wasn’t their primary ideal customer. So he launched his own legal AI platform.
“There’s a huge gap in the market for law firms like mine,” Zahrai notified Capital Brief.
Parachute has raised $1.8 million at an $8.5 million valuation in a pre-seed round led by Rampersand’s Andrew Poesaste to build an AI-powered legal operating system for tiny- and medium-sized law firms.
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