The startup’s new round—which it said is the largest Series A ever for a legal tech company—values Manifest at $750 million, the company announced in a news release Tuesday (April 28).
“To truly shift the market to outcomes-based pricing and to democratize access to high-quality legal services for clients, we needed to rethink the entire business model of a law firm from the ground up,” Dan Mishin, Manifest’s founder and CEO.
“We made the hard choice to not sell our AI software to existing law firms who are often beholden to billing customers more hours as a means to better compensation,” Mishin added. “Instead, we partner with forward-thinking lawyers to help them become market leaders in their respective practice areas, with AI at their core from day zero.”
Manifest said its platform serves as a “single end-to-end solution” for client communications, attorney and client collaboration, research, document drafting, reporting and billing.
“Human-supervised” AI agents are woven into legal workflows, doing away with non-legal administrative work and giving attorneys more time to focus on clients.
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The company also provides a “centralized operational infrastructure,” recruiting paralegals, admins and legal writers, and training them to become proficient in AI while dealing with things like client intake, business development, quality assurance, billing and collections.
Firms working with Manifest operate “under the unified Manifest Law brand, creating a consistent standard” for pricing, service and client experience, the release added.
Other companies raising funds in this space include Legora, which was valued at $5.6 billion last month after raising $550 million in a Series D funding round.
Also in March, Harvey raised $200 million in new funding—at an $11 billion valuation—for its legal infrastructure for law firms and in-house teams. The company’s products streamline workflows in contract analysis, due diligence, compliance and litigation.
PYMNTS wrote last year about the way AI has made inroads into the legal world, becoming embedded infrastructure in these law firms as it carried out tasks in research, contracting, compliance and billing.
“Legal AI is moving from experimentation to embedded infrastructure, reshaping how services are priced and delivered,” that report said, while adding that not every offering would have staying power. “The winners will be those who become indispensable to how the profession actually works.”
