Crosby Raises $60M to Revolutionize Legal Contracting AI Tools
Crosby secured $60M in Series B funding to refine its AI legal contracting tools.
Why it matters: AI advancements promise to cut contract review times and costs, benefiting legal workflows significantly.
- Crosby secured $60M in funding on March 31, 2026.
- The company's valuation now stands at $150 million.
- Crosby provides AI-driven legal contracting tools.
- The firm aims to quicken contract reviews and cut costs.
Crosby, a legal tech company based in New York, has secured $60 million in Series B funding as of March 31, 2026. This funding will propel the development of its AI-powered platform designed to make contract reviews faster and more cost-effective for legal professionals.
Founded in 2025, Crosby enhances legal contracting by integrating AI technologies with traditional legal practices. This approach is expected to significantly reduce the time and costs associated with contract assessments. The company is working to refine these efficiencies through advanced AI capabilities.
With a current valuation of $150 million, Crosby shows promising growth following its previous raise of $20 million in Series A and $5.8 million in seed funding. Crosby anticipates boosting its market presence and technology capabilities with the new capital influx.
CEO and co-founder Ryan Daniels has emphasized a strong commitment to technological advancement, noting that Crosby seeks to enhance the substantial efficiency gains possible with AI-driven solutions. The firm is also focusing on expanding its team, particularly in senior product design positions in New York.
This funding comes amid a broader industry focus on AI-based solutions to improve legal operations, reflecting a shift towards more efficient resource management and client cost reductions in legal practices.
By the numbers:
- $60 million — Series B funding secured.
- $150 million — Crosby's current valuation.
- $25.8 million — Total prior funding rounds.
Yes, but: There is still uncertainty regarding the full adoption of AI tools by traditional law firms.
What's next: Crosby plans to expand its team and refine its AI contracting tools in the coming months.