The Early Beginnings of a Tech Prodigy
Daniel Ruskin’s journey into the world of technology began at an impressively young age. At just 14 years old, he took on the role of an engineer for Coinbase, driven by a passion for coding and innovation. Unable to open a traditional bank account due to his age, Ruskin turned to freelance development work found on Reddit, accepting payment in bitcoin. This early exposure to cryptocurrency led him to Coinbase, where he boldly reached out to the head of operations with a cold email. His initiative paid off, as he soon became instrumental in developing much of the software that powered the platform’s growth during its formative years.
After four impactful years at Coinbase, Ruskin pursued higher education, attending college before enrolling in law school. Along the way, he launched several startups, including an election security company that successfully obtained a patent for its innovative technology. Frustrated by the complexities and opacity of the patent process, Ruskin founded Inventex in December 2024, a Salt Lake City-based company aimed at revolutionizing how patents are prepared and filed.
Revolutionizing Patent Filings with AI and Expertise
Inventex leverages a combination of AI agents and licensed attorneys to streamline the patent application process. The goal is clear: help companies achieve patent-pending status ten times faster than traditional firms, reducing the timeline from months to mere days. Within just one month of launching, the company secured $2.4 million in pre-seed funding from prominent investors like Conviction Capital, Coinbase co-founder Fred Ehrsam, and Cambrian Ventures. The financing round valued Inventex at $10 million, reflecting strong investor confidence in its potential.
The company operates by collecting technical data such as code, design documents, and specifications from its clients. It then identifies inventions that meet legal requirements for patentability, conducting thorough prior art searches to ensure uniqueness. Drafting and filing patent applications follow, both domestically and internationally. Ruskin emphasizes that Inventex’s approach not only accelerates the process but also improves the quality of patents by tailoring AI models to specific technical fields and employing true experts in those areas.
A Track Record of Innovation and Leadership
Ruskin’s reputation precedes him, particularly among those who worked alongside him at Coinbase. Maksim Stepanenko, a former colleague and founder of Operator, describes Ruskin as thoughtful, fast-moving, and adept at navigating complex systems. His leadership qualities were evident even as a high school student leading key payments infrastructure projects at Coinbase. Recognizing Ruskin’s potential, Stepanenko participated as a small angel investor in Inventex’s pre-seed round.
Rex Salisbury, solo GP at Cambrian Ventures, echoes this sentiment, calling Ruskin “the highest velocity engineer” he encountered at Checkr Pay, where Ruskin helped launch a neobank in just three to four months. Having contributed to two unicorns—Coinbase and Checkr—before finishing college, Ruskin’s accomplishments extend beyond engineering to include graduating in the top 10% of his law school class and passing the patent bar.
Scaling the Business Through Partnerships and Vision
Since its December 2024 launch, Inventex has experienced rapid growth, doubling its revenue monthly through word-of-mouth referrals and partnerships with venture capitalists. The company charges a monthly fee for building patent portfolios, covering invention discovery, drafting, filing, and prosecution. With three full-time engineers and several contract patent attorneys, Inventex competes with tools like Edge and Solve but distinguishes itself through its end-to-end service model.
Looking ahead, Ruskin plans to explore offering Inventex’s drafting toolkit as a white-labeled solution for law firms, enabling them to provide clients with better patents faster. He envisions a future where drafting accounts for only 10% of billable time, leaving 90% for strategic consultation—a shift that could democratize access to intellectual property protection for innovators of all sizes.
Breaking Barriers in Intellectual Property Access
Inventex’s mission aligns with a broader vision of making intellectual property more accessible. By automating processes and leveraging AI, the company addresses inefficiencies inherent in traditional patent law practices. For example, it currently uses one of its tools to automate MSPB complaints for federal employees affected by recent layoffs—workloads too vast for conventional firms to handle.
With approximately $250,000 in annual recurring revenue already in the pipeline, including partnerships with publicly traded companies like Dirac, Inventex is poised for continued expansion. As demand continues to outpace supply, Ruskin remains focused on scaling the business while maintaining the quality and speed that set it apart.
