We take a look at categories where AI startups are beginning to emerge. A majority of them are in the early stages of funding. We take a look at categories where AI startups are beginning to emerge. A majority of them are in the early stages of funding. Artificial Intelligence is being hailed as the new linchpin of the tech industry.
It's almost impossible these days for legal professionals to operate without the aid of technologies such as automation, data, and AI. The lawtech movement has expanded rapidly across the sector, making legal processes faster and more efficient, reducing operating costs, and making legal services more accessible to those who need them. The legal industry is experiencing a shift in mindset with in-house lawyers under pressure to do more with less and increasingly questioning the established practices and fee structure of the big city law firms. Lexoo began as an online marketplace for lawyers and is evolving into a'new law' company, providing bespoke and tech-enabled teams of former big law lawyers typically on a fixed-fee basis. Founded in 2014 by Daniel van Binsbergen, a former lawyer at De Brauw Blackstone Westbroek, and Chris O'Sullivan, a developer, last October Lexoo closed a $4.4 million Series A financing round led by Earlybird, with investors including Ned Staple, General Counsel at Zoopla.
The disruptive technologies these days are getting lots of attention in the global technology market. Particularly, artificial intelligence is one such technology that is making headlines every day. With new inventions and innovations, more and more companies are emerging across the industry to offer something that was never explored before. Most of all, various rising start-ups and other AI-based companies are securing hefty amounts of investment from significant investors every now and then. The beginning of new year marked the commencement of new era of innovation with several investors coming forward to contribute to the transformative journey of emerging innovators.
These startups are applying AI to discover new drugs, remotely monitor patients, securely transfer patient data, and more. Healthcare has become a crucial area for artificial intelligence research and applications. Startups in the space are leveraging AI technology to help individual consumers, clinicians, and hospital systems improve everything from fitness to clinical trials to diagnostics. For example, consumers are adopting virtual assistants to inquire about symptoms and using applications to track fitness metrics. Meanwhile, radiologists are using computer vision to discern between malignant and benign cells, while hospital systems are deploying AI-driven software to analyze the financial risk of individual patients on behalf of insurers.
My colleague Lucinda Shen wrote an interesting article about Second Measure, a startup that pulls together consumers credit card transactions, analyzes the trends, and sends it out with a roughly two week delay. In a time when the internet seems to have information on just about everything, getting data earlier than most can be the edge needed for a winning investment. That's what companies such as Goldman Sachs, and Citi Ventures are betting on with Second Measure, a startup that pulls together consumers credit card transactions, analyzes the trends, and sends it out with a roughly two week delay--an advantage to quarterly financial statements that come out every three months. On Tuesday, Second Measure announced $20 million in Series A funding led by Bessemer Venture Partners and Goldman Sachs. The startup, founded by two software engineers that once worked at gaming company Electronic Arts, now counts roughly 150 clients, with asset managers such as Neuberger Berman and venture capital clients such as New Enterprise Associates among the ranks.