New York-based Manifest OS closed a $60 million Series A at a $750 million valuation with backing from Menlo Ventures, Kleiner Perkins, and First Round Capital. The startup is building an AI-native law firm operating model.
The 12.5x revenue multiple (assuming $4-6M ARR typical for Series A) shows VCs paying steep premiums for vertical AI plays with defensible workflows. Legal tech commands higher multiples than horizontal AI tools because switching costs are higher once integrated into case management.
Founders raising Series A should benchmark against this $750M pre-money if building vertical AI with similar workflow integration depth. Finance teams should model 12-15x revenue multiples for Series A planning if your AI product has comparable switching costs.