Interesting stuff, but the price is steep!

TechCrunch

It is a common perception that IP litigation is exploding, in part because the patent system is allegedly broken. Enter Lex Machina, a Palo Alto based company providing IP litigation data and analytics to help companies “anticipate, manage, and win patent and other IP law suits,” which just closed another $2 million in a funding round led by X/Seed Capital.

Investors in this latest round include Costanoa Venture Capital (founded by Greg Sands), Naval Ravikant (Angel List), Jeff Hammerbacher (Cloudera), and David Chao (DCM). Prior investors include Dan Cooperman (former General Counsel for Apple and Oracle) and Jerry Yang (Yahoo!).

“This funding will enable us to improve our existing SaaS product and develop more IP analytics products that will employ our proprietary data to predict litigation outcomes, inform transaction and investment decisions and value and monetize critical IP assets,” said Josh Becker, CEO of Lex Machina, in a statement.

Sounds good, here’s how:

Lex Machina’s crawler extracts documents and data…

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