A recent report from Lawtech UK revealed that legal startups across the UK are currently growing at a rate of 101%, surpassing fintech, climate tech and healthtech. As post-pandemic recovery, innovation and consumer activity expands, lawyers, business owners and consumers alike are increasingly attracted to the possibility of fast transactions offered by automation. As the space continues to grow, UK legaltechs are only beginning to tap into demand. Here’s 8 legaltech startups you should watch out for.
Lawtech: 8 startups transforming the UK legal sector
Technology is transforming the way legal transactions are carried out in the UK. As the space for digital-led innovation grows, legal technology is growing in demand thanks to its ability to simplify complex or time consuming legal tasks including processing legal documents, signing contracts and even raising legal fees.
UK-based StructureFlow uses visual software to help legal professionals interact easily. The startup does this by modelling professional transactions and making complex deals easier to understand by breaking them down visually. Founded in 2017, StructureFlow has since been used by the UK’s top firms. After participating in the magic circle’s first legaltech incubator programme in 2019, the startup has gone on to secure a pilot with Slaughter and May, which will continue to roll out the technology.
Founded in 2019, Legl aims to shift the way legal services are provided. By providing digital options for administrative tasks such as client onboarding and compliance, the startup aims to ease the burden on legal professionals while bringing clients an easy-to-use, automated service.
Founded in 2015, LawAdvisor Ventures is seeking to make the delivery of legal services fast and simple. Since moving to its new headquarters in London, the startup has since created partnerships across the legal industry, discovering the challenges industry professionals face and innovating solutions.
The company has partnered with various financial and legal firms, including Barclays plc and Bird & Bird, to reduce the complexity and time spend managing everyday legal tasks, such as managing tenders
LawAdvisor has gone global and we wanted to share our story in our mission to revolutionise the legal practice… Read the article to find out more about our story🚀 🌍 #wearelawadvisor #LegalTech #legalinnovation #legaltechnology #law #legal #lockdownhttps://t.co/N0mcei3PL9
— LawAdvisor Ventures (@LawAdvisor_) April 13, 2021
London-based Robin AI is reducing the time spent on everyday legal tasks by introducing automation to the process. The startup uses AI and machine learning to simplify administrative workloads, such as reviewing legal documents. The legaltech’s portfolio currently boasts top companies across various industries, including Clifford Chance and healthtech, Babylon Health.
Founded in 2020, Legislate is aiming to simplify lengthy contracting processes. The startup reduces the time spent creating contracts for small businesses, landlords and letting agents by providing templates which can be altered depending on individual business needs. Using a contract template, already reviewed by legal professionals, the company estimates that it saves small businesses around 3 hours per contract.
Fundraising platform Crowd Justice allows communities to raise money to fund legal action. Users can create public or private fundraising pages, with money raised going directly to lawyers. According to the company, users have crowdfunded amounts from as little as £300 for specialist legal advice to £300,000 for complex cases and issues.
Founded in 2016, SeedLegals reduces the time spent by startup founders negotiating legal requirements by bringing all documents required to launch and complete a round together in one platform. According to the company, the legaltech has now helped over 30,000 companies and investors close funding rounds. SeedLegals teamed up with Maddyness UK this year to launch Startups in Bloom, a conversation series tackling the most common issues faced by startups and scaleups.
Maddyness UK has teamed up with @seedlegals for a new conversation series that will tackle a different issue faced by startups and scaleups in each episode.
— Maddyness UK (@Maddyness_UK) May 6, 2021
London-based Lexoo allows startup founders to explore a range of lawyers through an online marketplace. Using a network of over 1000 lawyers across 70 countries, the London-based startup reduces the time and money often pumped into searching for legal opinions tailored to company needs.