Parrot: Creating a 10x Better Experience of Flawless Depositions for Lawyers
Here at XYZ, we partner with founders who care about tech-forgotten industries, who have audacious goals for improving the lived experiences of their users. In the case of Parrot, founders Eric and Bryan Baum, along with CEO Aaron O’Brien, have identified an overlooked process in the legal and insurance landscape that needed an overhaul: depositions.
A deposition is a pre-trial testimony taken under oath and out of court to gather the facts of a legal case before the trial begins. Depositions usually include video, transcripts, or both. These are opportunities to obtain testimonies of witnesses used for evidence, to cross-examine the opposing party, and to enable discovery for both parties. It is a powerful litigation tool in our system of law enforcement. Yet, depositions are time-consuming, incur expensive travel costs, are slow to schedule, and often require hired specialists (like stenographers) to execute.
Enter Parrot, an AI-powered platform purpose-built for instant depositions that provides highly accurate, searchable transcripts. These transcripts can be summarized and made available for discovery moments after a testimony. Rather than waiting weeks while counterparties go back and forth with courts to find the right time and place for a deposition, Parrot’s platform enables smooth deposition scheduling and coordination within 24 hours. Instead of waiting 10+ days for a court-generated transcript post-deposition, Parrot’s deposition review tools give immediate access to the deposition record and build deposition transcripts for each case.
Their secret sauce? Highly customizable AI models trained on your specific data to produce unparalleled accuracy and reliability for the legal industry. Parrot not only overhauls the end-to-end deposition experience by granting analytical superpowers to the court reporter, but it also creates richer functionality for counsel to focus on their case and improve the overall case outcomes. Parrot has transformed the insurance industry, where quick legal claims processes are fundamental, and better data can overhaul the sector. We believe there is a massive long-term opportunity to build compelling workflows on top of deposition data.
In the case of Parrot, we are seeing two AI narratives unfold. First, deploying AI against real-world problems can dramatically accelerate and improve people's work. In the case of licensed officials overseeing the deposition and transcription process, the review times are greatly reduced. Second, thoughtfully-implemented AI can meaningfully reduce legacy processes' operational overhead, allowing all parties to benefit from improvements in speed and accuracy. This is demonstrated in Parrot’s Auto Summaries product, which fits right into the attorney workflow. By eliminating excessive delays without losing the benefits of specialist oversight, Parrot returns depositions to their raison d’etre: reaching an efficient and equitable solution to complex problems between counterparties.
This efficiency is immediately apparent in the Parrot customer experience: 79% of clients report that the tooling helps them win cases, while 91% report it allows their teams to focus on what matters most. This comes with financial benefits as well - clients that use Parrot also save on average 32% on firm-wide costs. By streamlining depositions, Parrot is lowering the bar for accessibility of justice and creating a seamless experience for lawyers in the field.
After investing in Parrot in an earlier funding round, we are excited to continue our support and co-lead their $11M Series A with our good friends at Amplify Partners. Looking for an opportunity to shake up an industry that’s due for change? Check out opportunities to join the team here.
