Foley Represents NEA as Lead Investor in $6M Seed Round for AI Squared

06 July 2022 Media Contact: Jen Dilworth News

Foley & Lardner LLP recently represented NEA as the lead investor in the $6 million seed round for integration platform AI Squared. Ridgeline Partners also participated in the funding round.

AI Squared helps companies adopt artificial intelligence by using a low-code platform to integrate it into existing applications in a timely and straightforward manner. Its founder, Benjamin Harvey, was inspired to start the company after a decade at the U.S. National Security Agency, where he saw how it and other organizations struggled to adopt artificial intelligence into existing applications.

AI Squared plans to use the new capital to mature the product to prepare for the community and enterprise editions of the platform. The company will also help expand the engineering team, build a sales group, add marketers, and expand community relations.

The Foley team was led by Partner Louis Lehot and included Associate Saige Gallop.

Foley’s Venture and Growth Capital Group understands the complex and diverse needs of both venture funds and their portfolio companies, offering a broad range of services at each stage of development. Foley’s attorneys have insight into the unique needs of high-growth companies. For more information, visit FoleyIgnite.com.