BREAKING Crosby closes $60M Series B at a $400M valuation Median contract turnaround: 58 minutes 13,000+ contracts reviewed and counting Lux Capital & Index Ventures co-lead the round From $30M to $1B in negotiated contract value in 283 days Customers include Cursor, Clay, Cartesia Fixed price per document - the billable hour is on notice BREAKING Crosby closes $60M Series B at a $400M valuation Median contract turnaround: 58 minutes 13,000+ contracts reviewed and counting Lux Capital & Index Ventures co-lead the round From $30M to $1B in negotiated contract value in 283 days Customers include Cursor, Clay, Cartesia Fixed price per document - the billable hour is on notice
Crosby - the AI-powered law firm
CROSBY, CAUGHT MID-REDLINE - the firm that swapped six-week wait times for a 58-minute median and somehow still answers your Slack.
Company Profile - Legal AI

Crosby.

The AI-powered law firm that reviews your contracts before your coffee gets cold.

Founded 2025 HQ New York, USA Raised $85.8M Team ~72 Stage Series B
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Dateline - New York

A law firm that moves at startup speed

Where the slowest part of the deal used to live

It is 9:14 on a Tuesday. A growth-stage sales team in San Francisco just got a signed term sheet, drops a vendor MSA into a Slack channel, and goes back to its standup. By 10:12 the redlines are back - marked, benchmarked against market terms, and ready to send. No partner's assistant. No retainer call. No invoice with six-minute increments. That is Crosby at work, and it is the most boring-looking revolution in legal services you will see this year.

Crosby is a registered law firm. It carries malpractice insurance. It employs licensed lawyers. What it does not do is bill by the hour, and it does not make you wait weeks for a routine contract. The firm pairs proprietary AI agents with human attorneys to review NDAs, MSAs, and data processing agreements - the unglamorous paperwork that quietly decides how fast a company can actually close business.

"For startups that are growing really fast, the top thing that's slowing them down is the contract."

Ryan Daniels, Co-founder & CEO
The Problem

Legal was built to be slow

A $300 billion industry that still sells time, not outcomes

Here is the inconvenient thing about traditional legal work: the business model rewards delay. When a firm bills by the hour, speed is a tax on its own revenue. For a company trying to grow, that incentive runs exactly backwards. The contract becomes the choke point - the place where a closed deal goes to sit and think about what it has done.

Ryan Daniels watched this from the inside. Before Crosby he was a lawyer at Cooley, one of the marquee firms for tech startups, and later served as general counsel at a fast-scaling company. He kept running into the same wall: deals stacked up, revenue waited, and the bottleneck was almost never the substance of the contract. It was the queue in front of it.

"Crosby did in 12 hours what took a really great law firm six weeks to do."

A Crosby customer

Most legal-AI tools answered this by handing software to the in-house lawyer and wishing them luck. Crosby's founders thought that was solving the wrong half of the problem. The bottleneck was not the lawyer's reading speed - it was the entire structure around them.

The Founders' Bet

A lawyer and an engineer walk into legaltech

Build the whole firm AI-first, not just the toolbar

Daniels teamed up with John Sarihan, an early engineer at the fintech company Ramp, where he had a front-row seat to how regulatory and legal friction slows a hyper-scaling business. Their bet was contrarian: do not sell software to law firms. Become the law firm, and rebuild it from scratch with AI at the center.

That distinction matters more than it sounds. A software vendor can make a lawyer 20% faster. A firm designed AI-first can change the unit of work entirely - from billable hours to reviewed documents, from weeks to minutes, from a quote to a fixed price. The AI does the first pass. A licensed attorney verifies, negotiates, and signs off. The client gets a guarantee, not a guess.

Co-founder & CEO

Ryan Daniels

Former Cooley lawyer and startup general counsel who lived the contract bottleneck firsthand. Runs the legal practice and the pitch.

Co-founder & CTO

John Sarihan

Early engineer at Ramp. Wants to drive contract review times from hours down to minutes - and the system architecture to match.

"Deal velocity, not billable hours."

Crosby's operating thesis
The Product

Submit in Slack. Redlines before lunch.

Contract review as a product, not a project

The mechanics are deliberately unremarkable, which is the point. A team sends a contract or a legal question through Slack, email, or a CLM integration. Crosby's agents handle the routine analysis - clause extraction, risk flags, benchmarking against market terms. A human lawyer reviews the output, negotiates the parts that need judgment, and stands behind the result with malpractice insurance. Pricing is fixed per document, somewhere in the range of a few hundred to a thousand dollars, so the invoice never surprises anyone.

58min
Median turnaround
13k+
Contracts reviewed
$1B
Contract value negotiated
~72
Team members
Core service

Contract Review

NDAs, MSAs, and DPAs reviewed by AI agents plus licensed lawyers, typically in under an hour.

Pricing

Fixed Per Document

Volume-based, predictable fees instead of hourly billing - backed by a real firm's insurance.

Workflow

Slack / Email / CLM

Submit where you already work and get reviewed redlines back in the same channel.

Coming next

Negotiation Agents

Counterparty response simulations and voice negotiation agents are on the roadmap.

What you can actually do with it: clear the legal queue without hiring a legal team, get Big Law-quality review at a predictable price, and stop letting a routine NDA hold a signed deal hostage for three weeks.

The short, fast life of Crosby

Founded 2025 - and already on its third round
EARLY 2025
Out of stealth
Soft-launches with a $5.8M seed led by Sequoia Capital, plus a roster of founder-angels from Ramp, Opendoor, and Flatiron Health.
JUNE 2025
Public launch
Debuts as a new kind of AI-powered law firm, already reviewing thousands of contracts for Cursor, Clay, and Unify.
OCTOBER 2025
$20M Series A
Co-led by Index Ventures and Bain Capital Ventures, with Elad Gil and Stripe's Patrick Collison joining. Median turnaround hits 58 minutes.
MARCH 2026
$60M Series B
Lux Capital and Index Ventures co-lead at a $400M valuation. Total raised reaches $85.8M, with 400% revenue growth since the prior October.
The Proof

The numbers do the arguing

Growth that is almost rude

It is easy to promise speed. It is harder to show a curve. In 283 days, the value of contracts Crosby negotiated jumped from $30 million to more than $1 billion. Revenue grew 400% in the months between the Series A and the Series B. The customer list reads like a tour of the companies everyone is watching: Cursor, Clay, Cartesia, Unify, Alloy, Overjet, Rogo, Gumloop, and Tishman Speyer among them.

Negotiated contract value

Stealth exit vs. ~9 months later
At stealth exit
$30M
283 days later
$1,000M+
Yes, the teal bar is really there. At this scale $30M is a rounding error, which is roughly how Crosby would like you to think about your legal queue.
Cursor Clay Cartesia Unify Alloy Overjet Rogo Gumloop Tishman Speyer

The backers match the customers. The cap table runs through Sequoia, Lux Capital, Index Ventures, Bain Capital Ventures, and Elad Gil - and even Cooley, the firm Daniels left, put money in. There is a certain irony in a Big Law firm investing in the company built to route work around Big Law. Crosby seems comfortable with it.

"The reason we weren't growing as fast as we wanted to was the contracts."

Ryan Daniels, on the company that became the idea for Crosby
The Mission

Turn legal from brake to accelerator

The lawyer-in-the-loop, on purpose

Crosby is careful about one thing in particular: the AI does not practice law. It assists. Every review passes through a licensed attorney, and the firm carries the same professional liability as any traditional practice. That is not a hedge - it is the product. The guarantee is what lets a sales team forward a Crosby review to a counterparty without flinching.

The mission is to make legal the part of a deal that speeds it up. Not a smarter toolbar for lawyers, but a different shape for the whole service: routine contracts handled at the speed and price growing companies actually need, with humans where judgment matters and machines where it does not.

"A new legal solution, built AI-first, designed to handle routine contracts at the speed and cost growing companies demand."

The Crosby thesis, in its own words
Why It Matters Tomorrow

The billable hour is on notice

What $60M is supposed to buy

The Series B is pointed at the next, harder problems: counterparty response simulations, voice negotiation agents, and a client oversight platform so customers can see the work as it happens. If a firm can review a contract in 58 minutes, the obvious next question is whether it can negotiate one in real time. Crosby is betting yes.

There is a larger wager underneath. Legal is a $300 billion industry that still mostly sells time. If the unit of value shifts from hours to outcomes - from the meter to the result - the firms that priced their slowness as a feature have a problem. Crosby is not the only company circling this idea, but it is one of the few that became a law firm to do it.

Back to that Tuesday morning. The sales team in San Francisco never thought about its lawyers once. The MSA went out, the deal moved, the standup ended on time. The contract used to be the slowest thing in the building. Now it is the thing nobody notices - which, if you have ever waited six weeks on a redline, is the most radical outcome of all.

Sources: crosby.ai, TechCrunch, Sequoia Capital, Bain Capital Ventures, Law.com, The Global Legal Post, Upstarts Media, Crunchbase, PitchBook. Figures are approximate and reflect public reporting as of mid-2026.