Sandstone raises $30M to bring AI to in-house legal teams

Sandstone raised $30 million in Series A funding on May 15, 2024, to develop AI tools for in-house legal departments. The funding round was led by Lightspeed Venture Partners, with participation from Sequoia Capital. Sandstone's platform aims to automate legal workflows, such as contract review and due diligence, by leveraging artificial intelligence. The company stated that this investment will accelerate product development and expand its engineering and sales teams. Sandstone's technology is designed to integrate with existing legal tech stacks, offering a scalable solution for corporate legal operations. The company has seen significant early adoption from Fortune 500 companies, according to a press release. This funding positions Sandstone to compete in the growing legal tech market, which is increasingly incorporating AI solutions to improve efficiency and reduce costs for legal professionals.