DeepIP, a New York City and Paris-based startup founded in 2024, has successfully raised $15 million in a funding round led by Resonance, with participation from Headline (Mistral AI), Serena Capital (Dataiku), and Balderton. The company uses AI to modernize the outdated patent filing process, significantly reducing the time and cost associated with drafting and filing patent applications. DeepIP's platform integrates seamlessly into existing workflows, offering features like analysis of past applications to replicate writing styles and ensuring compliance with data privacy regulations.
DeepIP's innovative approach has already yielded impressive results, assisting in the drafting of 8,500 patent applications and achieving a 50% reduction in drafting time for lawyers. This efficiency boost not only improves productivity and talent retention within IP law firms but also enhances the quality and defensibility of patents. The company's success is evident in its rapid growth, achieving seven-figure annual recurring revenue (ARR) within seven months of launch.
The newly secured funding will be instrumental in expanding DeepIP's operations across the U.S. and Europe. The company plans to evolve its current productivity assistant into a more "agentic" system, adding further intelligence features to enhance its capabilities and solidify its position as a leader in AI-driven patent solutions. This investment underscores the significant market potential for DeepIP's technology and its potential to transform the patent industry.
