AI Legal Tech Firm Chariot Claims Raises $10M Series A to Automate Consumer Rights Enforcement

New York-based startup Chariot Claims has announced the completion of a $10 million Series A funding round led by Silverton Partners, with participation from firms including Indicator Ventures and Lightbank. This brings the company's total raised capital to $15.7 million.

Chariot Claims aims to address the difficulty consumers face when seeking redress for corporate misconduct such as privacy violations, hidden fees, and hard-to-cancel subscriptions. Its business model involves partnering with law firms to use AI technology to automatically identify potential cases, screen eligible consumers, and gather evidence, thereby enabling firms to efficiently manage thousands of individual claims (mass arbitration).

According to Crunchbase News, CEO Zim Hang stated that the company currently receives over 200,000 claim submissions per month and has taken on approximately 80 cases since shifting to its current business model just over a year ago. The company has about 15 employees and is breaking even. The new funding will primarily support hiring and product development, specifically enhancing AI tools used to review cases and determine consumer eligibility. Hang noted that allowing users to connect email accounts to automatically find relevant documents could increase their processing volume by 10x to 100x.