Josef closes lightning-fast funding round to supercharge Josef Q growth

Josef, the award-winning legal automation company, has closed a lightning-fast funding round from existing investors including OIF Ventures, Carthona Capital and The LegalTech Fund. 

The funding will enable Josef to capitalize on the market’s response to Josef Q, the company’s AI-powered product that legal and compliance teams use to create hyper-accurate, self-service Q&A tools.

Since expanding into the North American market in 2022, Josef has welcomed customers from corporate legal and compliance teams like L’Oréal, Bumble, and the global insurance giant Bupa, leading law firms like Orrick and Gunderson Dettmer, as well as law schools like NYU and Cornell.

CEO Tom Dreyfus says: “When you’re on to a good thing in this market, you have to move fast. The response to Josef Q has been overwhelming, particularly from legal and compliance teams in Fortune 500 companies.”

“This funding top-up will allow us to capitalize on those opportunities and to continue to lead the market in reliable and accurate legal AI.”

Speaking with Bob Ambrogi about the raise, Zach Posner, Co-founder and Managing Director of The LegalTech Fund shares that “Josef Q has rapidly gained traction among corporate customers.” He celebrates Josef “for having rapidly layered generative AI onto the no-code platform, creating a product that the corporate market has shown great interest in.”

Zach says, “It’s a simple, low-stakes way for the company to be using generative AI to solve big pain points. When you can ask exactly what you need to know and get the right answer quickly, it makes sense, and people start using it.”

A long-time market leader

Josef has long been a leader with its award-winning document and workflow automation platform. Now, with investors doubling down on Josef Q, this latest round enables the company to fully apply its automation expertise in the transformative field of AI.

Jerry Stesel, Partner at OIF Ventures says, “The founders’ ability to identify the right ways to deploy GenAI for legal and compliance teams continues to set them apart.”

“Josef Q offers controllable, trustworthy and hyper-accurate legal AI built to scale. As an investor, it has been immensely exciting to see enterprises delivering value with Josef’s AI today. We’re proud to back Josef again, and can’t wait to see what the team achieves next.” 

Building legal AI you can trust

Josef will use the funding to continue building out its cutting-edge AI controls and guardrails, including human-in-the-loop moderation and escalation pathways that have been designed specifically for legal and compliance.

The team will also continue to embed Josef into the broader legal technology ecosystem, enhancing its integrations with the Microsoft Suite, Google Workspace, Salesforce, Slack and more.

Deploying hyper-accurate tools in high-risk contexts

For legal and compliance teams, Josef Q offers an opportunity to deliver accurate and controlled AI tools that the business can use to answer complex and high value questions.

Led by Head of Legal Operations, Claire Nuske, teams at Bupa have created business-facing tools for their legal marketing playbook and across their suite of HR policies.

Claire says that “Josef Q offers the guardrails we need to build tools that can handle high value, confidential information. We’re transforming the way we work, and driving real efficiencies in our business, and Josef gives us the confidence we need to deliver self-service experiences at scale.”

Josef Co-founder and COO Sam Flynn says, “As legal and compliance teams have realized that deploying AI in high-risk contexts is actually harder than it looks, they’re turning to us to show them how you can deploy this powerful technology safely and effectively.

“The best part is that once you figure out how to build reliable AI, you unlock so much more value.”

Tom Dreyfus adds: “As always at Josef, we’re not satisfied with the status quo. That’s why, alongside delivering for our customers, we’re pushing the boundaries of legal AI with the world’s best research institutions like NYU and Cornell to build GenAI tools that legal and compliance teams can trust.”