Parachute is building an AI-powered legal operating system designed specifically for small- and medium-sized law firms, a segment its founders say is overlooked by large enterprise legal tech providers like Harvey and Legora. The platform stems from co-founder Ryan Zahrai’s experience running his own practice, where high costs and limited attention from existing vendors highlighted a market gap. By focusing on affordability and dedicated service, Parachute aims to capture the roughly 80% of Australian law firms that fall into the SME category. The product is positioned as a comprehensive operating system rather than a single-feature tool, suggesting plans for broad functionality spanning document drafting, research, and workflow automation. Future growth will center on deepening AI capabilities and expanding adoption across the SME legal market. Financially, the company has secured $1.8 million in pre-seed funding at an $8.5 million valuation, providing initial capital to build out its platform and accelerate go-to-market efforts.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2026