In the world of legal tech innovations, Solve Intelligence stands out as a distinctive force, by providing a cutting-edge solution for attorneys engaged in patent drafting and intellectual property (IP) analysis. This Delaware-based startup, founded in June 2023 by Sanj Ahilan, Chris Parsonson, and Angus Parsonson, has garnered $3 million in funding from prominent investors such as Y Combinator, Amino Capital, General Advance, SAV, Translink Capital, and Nomad Capital.
Both the Chief Research Officer, Sanj Ahilan, and CEO, Chris Parsonson, hold Ph.D. degrees in artificial intelligence from University College London. Their firsthand experience in the challenges of obtaining patents, coupled with insights gained from working at tech giants like Huawei and Dyson, motivated them to establish Solve Intelligence. Chris, drawing on his patent attorney girlfriend’s feedback, recognized a scarcity of specialized software for patent attorneys beyond the confines of conventional tools like Microsoft Word.
Solve Intelligence’s product, launched in July, distinguishes itself with an in-browser document editor reminiscent of Google Docs, concealing beneath its surface an AI copilot tailored for patent attorneys. This AI solution, empowered by deep learning, can discern novelty and non-obviousness, revolutionizing the research and development (R&D) process. Chris Parsonson elucidates that their AI will be able to automatically identify the most promising novel and non-obvious steps, rank them by commercial viability, and facilitate the drafting process with the IP firm collaborating with the tech company.
With a client base spanning over 25 IP firms across the U.S., Europe, Asia, and South America, Solve Intelligence boasts efficiency improvements of 60-90% for many users. The startup, despite being in its early stages, has generated recurring revenue ranging from $100,000 to $1 million through a per-seat subscription model.
Looking ahead, Solve Intelligence is poised to capitalize on the projected growth of the patent analytics market, expected to reach $2.36 billion by 2030. Despite some attorneys expressing reservations about AI tools due to confidentiality concerns, Chris Parsonson emphasizes the robust security measures in place, affirming that “everything is encrypted both in transit and storage” on enterprise AWS servers.
Solve Intelligence envisions widespread adoption of AI among legal professionals in the next five years and positions itself as a frontrunner in this transformative journey. The startup plans to utilize its recent funding to expand its team, cater to growing customer demands, and enhance research and development for upcoming features, including AI-driven technical drawing generation, patent quality enhancement, and customization to match the unique drafting styles of attorneys. And, according to their CEO, Chris Parsonson, “Patent drafting is just at the beginning.”
Solve Intelligence is trusted by many IP firms across four continents to write high-quality patents more efficiently. Check them out today.