(Reuters) -August, an AI startup founded by Columbia University alumni and that caters to midsize law firms, said on Tuesday it had raised $7 million in a seed funding round led by venture capital firms NEA and Pear VC. It also helps to cut costs, a crucial benefit for midsize law firms that lack the resources of their deep-pocketed rivals. August was founded in 2023 by Rutvik Rau, Thomas Bueler-Faudree and Joseph Parker, who met at Columbia University.