New York-based startup Patlytics has raised US$14 million in a series A funding round led by Next47, bringing its total funding to US$21 million since launching in January 2024.

Existing investors, including Google’s Gradient, 8VC, Alumni Ventures, Liquid 2 Ventures, and Myriad Venture Partners, also participated.

The company has seen rapid early growth, reporting a 20-fold increase in annual recurring revenue.

Founded by CEO Paul Lee and CTO Arthur Jen, Patlytics offers an AI-powered patent analytics platform for intellectual property professionals, law firms, and corporations.

Its tools assist with patent drafting, infringement detection, invalidity analysis, and portfolio management using custom large language models.

The company has expanded into South Korea and Japan, with pilot programs in the UK and Germany.

With the new funding, Patlytics plans to enhance its product offerings, expand its engineering team, and scale operations.

The startup aims to streamline patent-related workflows, improving efficiency and reducing costs in technical discovery and litigation support.