AN OFFICIAL PRESS RELEASE

PREMONITION

$100M Seed Valuation ? Premonition

Oversubscribes
PRESS RELEASE - NOV 4, 2015 13:57 EST

Premonition, a Miami based start up just raised a seed round at a

$100 Million valuation.
Premonition, a Miami based start up just raised a seed
round at a $100 Million valuation. The investor has been
back several times asking to buy more shares, so I guess,
technically, we oversubscribed it. says CEO, Guy Kurlandski.
Is this a sign of an impeding tech bubble? Premonition
argues that it has a very different proposition from the
social media, photo sharing apps that are garnering VC
eyeballs. Premonition is an Artificial Intelligence system
that mines Big Data to find out which Attorneys win before
which Judges. The company claims it is A very, very unfair
advantage in Litigation.

"We live in exponential

times, where a competitor
can come from nowhere
with disruptive technology
that can change the face of
an industry overnight.
Premonition is the only
player in the $400Bn legal
space that knows the actual
performance of individual
lawyers and firms. It's a
frightening advantage. It
was blindingly obvious,

Premonition has developed proprietary data gathering

technology to enable it to download and assimilate public
records at scale. It claims to have the largest database of
right from the start, that
litigation in the World, furthermore, that is bigger than
this was a Billion dollar
every major database combined. We live in exponential
company."
times, where a competitor can come from nowhere with
www.premonition.ai
disruptive technology that can change the face of an industry
NIC VILJOEN, AN ADVISOR TO
overnight. Premonition is the only player in the $400Bn legal
THE COMPANY, WHO FIRST MET
THEM AT DRAPER FISHER
space that knows the actual performance of individual lawyers
JURVETSON ESPRIT
and firms. Its a frightening advantage. It was blindingly
obvious, right from the start, that this was a Billion dollar company. says Nic Viljoen, an advisor
to the company, who first met them at Draper Fisher Jurvetson Esprit.
Kurlandski and co-founder, Toby Unwin, the inventor of the system turned down investors
right from the start. Getting the valuation wasnt the hard part, it was finding someone flexible
enough to only take a small piece. Many of my contacts have $20-50M minimum investments, so
we couldnt accommodate them on this round. Theyre coming in later, even though they realize
they may be paying 10x more. The pair finally accepted an investor who actually offered a
valuation considerably lower than others because he was willing to only take 3%. Terms
trumped price. This will be a multi billion company, equity is very, very expensive money.
Kurlandski explains.

The pair also turned down a major law firm who offered an eye watering price at the firms
inception, but demanded control of the system. We had a number of heated discussions about
it. I said, if the system was going to be restricted and watered down, I was out. Its more that just the
money at stake here, its hugely important to bring some transparency to the justice system. Unwin
said. Its not about raising money, its about raising the right money. Kurlandski added.
The Company has already created the Worlds largest legal database enabling the prediction of
outcome of any lawsuit with a high degree of accuracy. This in itself is invaluable data. says CFO,
Robert Pola. Added to this the fact that the Company is now in high level talks with leaders within
the Global Insurance industry, underwriters and insurance companies themselves, who when all
said and done are in the risk assessment business, establishes the financial arena for this business.
The initial valuation arising from the first round of funding is therefore well supported and in due
course will result in this company achieving a multibillion dollar valuation. Pola added.
www.premonition.ai

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Categories:

Tags:

Legal/Law, Finance, Investment

attorneys, capital raise, CEO, CFO, finance,

general counsel, law, law firm, law tech, seed
capital, Solicitor, start up

Company Contact Information

Toby Unwin
Premonition
#413 8101 Biscayne Blvd, Miami
Florida, 33138
+1(305)330-1056

Original Source: www.newswire.com