We're thrilled to announce that Parachute has raised $1.8M in pre-seed funding to build the operating system that SME law firms deserve. The round was led by Rampersand, with participation from Co Ventures, Aussie Angels, and a group of leading legal-tech operators and advisors.
The Problem We're Solving
Small and mid-size law firms are the backbone of the legal industry. They serve the vast majority of businesses and individuals who need legal support. Yet they're stuck with tools and workflows designed for a different era — or worse, tools designed for large enterprise firms and retrofitted down.
The result? Talented lawyers spend more time on administrative overhead than on the work that matters. Businesses that need affordable, reliable legal support are left underserved. And the gap between what's needed and what's available keeps growing.
Why Parachute
Parachute is built from the ground up for modern SME law firms and the businesses they serve. Our AI-powered platform handles the first 80% of legal work — drafting, reviewing, and compliance monitoring — so lawyers can focus on the judgment, strategy, and client relationships that only humans can provide.
For businesses, Parachute provides fast, affordable access to legal and compliance support that was previously only available to enterprises with large legal budgets. Our expert verification marketplace connects businesses with trusted lawyers for the final 20% — independent review, verification, and certification.
"We believe the future of legal is collaborative — AI and human expertise working together to deliver better outcomes, faster, and at a fraction of the traditional cost."
What We've Built So Far
Since launching in September 2024, Parachute has already delivered over 2,500 advices, saved an estimated 12,900+ hours of legal work, and generated over $5.1M in estimated savings for our customers. Our AI achieves 97% legal accuracy, helping firms solve 75% of their legal work with AI alone before expert review.
We've been co-designed with modern law firms and businesses across Australia, including firms like Lazarus Legal, Zed Law, Nexa Legal, and Fletch Law, as well as growing businesses like Canopy Clinical, Amplify HR, and Zencheck AI.
What's Next
This funding will accelerate our product development across three key areas:
1. Deeper AI Capabilities: Enhanced compliance automation, regulatory monitoring, and cybersecurity framework mapping — covering Essential Eight, ISO 27001, SOC 2, and more.
2. Expert Marketplace Growth: Expanding our network of verified legal and cybersecurity experts to serve more industries and jurisdictions.
3. Integrations: Connecting with the practice management systems and productivity tools that law firms and businesses already use — Clio, LEAP, Smokeball, Microsoft 365, Google Workspace, Slack, and more.
Thank You
To our investors — Rampersand, Co Ventures, and Aussie Angels — thank you for believing in our vision. To our early customers and law firm partners — thank you for co-building this with us. And to every SME law firm and growing business out there — we're building this for you.
If you're a law firm looking for leverage or a business looking for better legal support, we'd love to hear from you. Get in touch or start your free trial.