TECH

Lawhive Secures $40M to Target ‘Main Street’ Attorneys in the US

Lawhive, a UK-based legal tech startup, is making significant strides by enabling small, ‘Main Street’ law firms to manage their operations via an AI-driven SaaS platform. Following an impressive $11.9 million Seed round in April, the startup has now secured $40 million in Series A funding aimed at expanding its presence in the US.

This funding round was co-led by current investor GV (Google Ventures) alongside TQ Ventures.

Established in 2019 by co-founders Pierre Proner (CEO), Jaime Van Oers (CTO), and Flinn Dolman, Lawhive streamlines many burdensome tasks for consumer lawyers, enhancing their response times, enabling them to assist a larger client base while reportedly cutting costs for clients by as much as 50%.

Their efforts are well-timed, as a report indicates that 80% of consumer legal needs in the US remain unmet, representing an annual value of $1 trillion.

So far, most legal tech startups have focused on “Big Law” firms, such as Harvey, Robin AI, and Spellbook. Few have targeted “Main Street” law firms, which typically operate on tighter budgets and present greater monetization challenges. Proner remarked to TechCrunch that smaller firms are “managing higher costs in a declining market,” making them a promising target for their services.

Proner stated, “I’m confident that competition will arise [in the US], but for now, we are the first movers in this sector.”

When asked what drew GV to invest, Proner noted: “The combination of a consumer brand with deep tech is key. Our AI lawyer and proprietary models are central to our offering. The allure lies in merging consumer branding with research & development, along with robust deep tech capabilities, which are crucial for our advancement.”

Lawhive claims that its AI, affectionately named ‘Lawrence,’ has successfully completed part one of the Solicitors Qualifying Examination (SQE). The platform also allows lawyers to collaborate with their own clients or connect with consumers and small businesses via the Lawhive marketplace.

In a statement, Schuster Tanger, Co-Founder/Co-Managing Partner at TQ Ventures, added: “The US legal market, arguably the largest globally, is primed for disruption. The urgent demand for affordable legal access creates the ideal landscape for innovative tech solutions like Lawhive’s.”

Other investors in this funding round included Balderton Capital, Jigsaw, Episode 1, and Premier League footballers Harry Maguire and Reece James.

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