Parachute

What Parachute does

Parachute (legal entity Veraty Tech Pty Ltd) is an Australian AI-powered legal operating system founded in September 2024 and headquartered in Sydney, targeting SME law firms of one to twenty lawyers, in-house legal teams, growing businesses, and barristers' chambers across Australia, New Zealand, the United Kingdom, the United States, and Canada. The platform wraps frontier large language models from OpenAI, Anthropic, and Google in a matter-centric workspace with a four-stage Gather, Review, Draft, and Finalise workflow, firm-specific Knowledge Base (RAG-grounded against uploaded precedents, policies, and playbooks), jurisdiction-aware legislation search with verifiable citations, AI document drafting from more than 100 templates, multi-stage contract review with obligation extraction and severity-weighted risk scoring, meeting notetaker, email-to-thread capture, and an Expert Verification marketplace connecting businesses with lawyers for professional sign-off.

Monetization combines per-seat subscription (from $400 AUD per month base plus $100 AUD per additional seat per month, with quarterly and annual billing options) with pay-per-use expert verification fees. Go-to-market is primarily product-led via a 14-day self-serve free trial and SEO-optimized comparison pages against Harvey, Legora, Clio, Smokeball, ChatGPT, and Claude, supplemented by demo bookings and outbound from the Rampersand and Co Ventures investor networks. The company raised a $1.8M AUD pre-seed round in February 2025 at an $8.5M AUD valuation led by Rampersand and has since integrated natively with Clio, Smokeball, NetDocuments, OneDrive, Microsoft Word, Slack, and as the first partner on InfoTrack's new MCP server.

The founding team comprises practicing lawyer Ryan Zahrai as CEO (previously at VC-backed healthcare unicorn Eucalyptus), Dave Berner as CTO, and Viv Chan as CPO, supported by approximately eight engineers, partnerships, and growth staff. Parachute has disclosed customer outcomes of more than 2,500 advices delivered, an estimated 12,900+ hours saved, and $5.1M in estimated customer savings since launch, with named customers including Zed Law, Fletch Law, Nexa Legal, and Herman Legal as co-design partners and SMB customers such as Canopy Clinical, Amplify HR, Rays Wellness, Zencheck AI, and Eucalyptus. SOC 2 Type II alignment is self-attested and ISO 27001 certification is underway to support enterprise procurement and multi-jurisdiction expansion.

Name

Parachute

Legal name

Veraty Tech Pty Ltd

Website

https://goparachute.ai

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Parachute is an Australian AI-powered legal operating system for SME law firms and in-house teams, providing AI drafting, contract review, knowledge base, and expert verification across five jurisdictions. Founded 2024 by Ryan Zahrai, it integrates with Clio, Smokeball, and InfoTrack.

Ownership category

akta.pro rank

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. Subscription - Per Seat: Monthly or annual subscription plans with per-seat pricing. Base plan includes 1 seat, additional seats at $100/seat/month. Non-refundable fees for entire subscription term once commenced. Quarterly (3-month) and annual (12-month) subscription terms available.
2. Expert Verification (Pay-per-use): Law firms pay flat per-client fee for each client onboarded. Expert verification for end clients is pay-per-use, pricing depends on document complexity. Firms set own pricing to clients with no commission on verifications.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels8 records

Core offering

Parachute is an AI-powered legal operating system that gives high-growth law firms and businesses a single connected workspace to gather matter context, run multi-stage contract review with verifiable citations, draft documents from firm precedents, and finalise deliverables. The platform wraps frontier LLMs (OpenAI, Anthropic, Google) with a RAG-based knowledge base, jurisdiction-specific legislation search, three AI depth modes, and an Expert Verification marketplace for lawyer sign-off on AI-generated legal work. It integrates natively with Clio, Smokeball, InfoTrack (via MCP), NetDocuments, OneDrive, Microsoft Word and Slack.

Product overview

Parachute is an AI-powered legal operating system built as a single unified platform for high-growth law firms and growing businesses. The core Parachute Platform connects files, emails, and firm precedents in one workspace, serving as the central hub. Key integrated modules include: AI Document Drafting (generates 100+ document types from templates using three AI modes), Contract Review (multi-stage workflow with obligation extraction, risk scoring, and conflict detection), Knowledge Base (firm's institutional memory that informs all AI responses), Expert Verification (marketplace of qualified lawyers for professional sign-off), Meeting Notetaker, Email to Thread, and Legislation Search. Practice management integrations with Clio and Smokeball sync matters, contacts, and documents bidirectionally. The platform officially supports Australia, New Zealand, United Kingdom, United States, and Canada jurisdictions.

Differentiator

Problem solved

Functional benefit

Products and services

• Parachute Platform AI-powered legal operating system (SaaS) that gives high-growth law firms and growing businesses a single connected workspace for gathering matter context, AI-assisted drafting, multi-stage contract review, and finalising deliverables, with native integrations to Clio, Smokeball, InfoTrack (MCP), NetDocuments, OneDrive, Microsoft Word and Slack.
• Expert Verification Marketplace Marketplace of verified lawyers that businesses can use to obtain independent review and professional sign-off on AI-generated legal documents, with pay-per-use pricing and optional routing through a connected law firm.

Named customers9 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability5 records

Feature8 records

Partnerships

Three partnerships are on record, tiered core.

• InfoTrackcoreTechnology or Integration · 30 April 2026First partner to integrate with InfoTrack's new MCP server. Enables inline title searches, ASIC searches, and PEXA workspace access directly within Parachute matter chat. Zero adoption cost for firms already using InfoTrack.
• CliocoreTechnology or IntegrationDirect integration connecting Parachute workspace to Clio Manage. Sync matters, contacts, documents, log time entries directly from Parachute. Supports conflict checks, contact management, matter creation.
• SmokeballcoreTechnology or IntegrationDirect integration connecting Parachute workspace to Smokeball. Search matters, log time entries, manage contacts, access practice data from within Parachute AI chat. Conflict checks, matter creation, file browsing supported.

Scale indicators12 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Spellbook: Spellbook is an AI contract drafting and review assistant for lawyers, deeply integrated with Microsoft Word. It overlaps with Parachute's drafting and multi-stage contract review modules and targets similarly sized law firms.
• Robin AI: Robin AI builds AI-powered contract drafting and review tools for lawyers and in-house teams, with deep Microsoft Word integration. It directly competes with Parachute's drafting and review features, especially for SME and mid-market firms.
• Ironclad: Ironclad is a contract lifecycle management and AI contract review platform. It competes with Parachute on contract review and drafting automation, though Ironclad's focus skews toward in-house legal teams rather than SME law firms.
• Legora: Legora (formerly Leya) is an AI legal assistant used by law firms for drafting, review, and research. Parachute names Legora as a direct competitor in its comparison content and competes for the same SME and mid-market law firm customer base.
• Luminance: Luminance is an AI platform for contract review and legal workflows used by corporates and law firms. It overlaps with Parachute's contract review and risk-scoring modules, though Luminance historically targets larger enterprise customers.
• Harvey: Harvey is the leading AI legal platform built on frontier LLMs for law firms and in-house teams. Parachute explicitly positions against Harvey in its comparison pages and targets the same core workflow (drafting, review, research) but at the SME end of the market Harvey underserves.

Emerging players

• Eve: Eve is an AI legal assistant for plaintiff-side law firms handling mass tort and personal injury cases. It overlaps with Parachute's drafting and matter workflow features but focuses on a narrower plaintiff practice area, making it a partial rather than full competitor.

Broad incumbents

• Thomson Reuters CoCounsel: CoCounsel is Thomson Reuters' enterprise legal AI suite combining research, drafting, and review capabilities. It competes with Parachute at the workflow level and brings deep legal content libraries, but is priced and packaged for enterprise and large law firms.
• Smokeball: Smokeball is a practice management platform focused on small law firms in Australia, the US, and Canada, and is a Parachute integration partner. As Smokeball expands its own AI features, it functions both as a channel partner and a potential competitor.
• Clio: Clio is the dominant cloud practice management system for SME law firms globally and a Parachute integration partner. While Clio's core product is practice management rather than legal AI, its scale and embedded distribution make it both a partner and a potential competitor as Clio expands its AI features.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/LetsGoParachute
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/goparachute

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parachute