Editorial Staff
London, December 5, 2024
Lawhive, a UK-based legaltech startup, has raised $40 million in Series A funding to drive its US expansion and enhance access to affordable legal services through its AI-powered platform.
Key Details of the Funding
The round was co-led by GV (Google Ventures) and TQ Ventures, with additional support from Balderton Capital, Jigsaw, Episode 1, and Premier League footballers Harry Maguire and Reece James.
Transforming Legal Services with AI
Founded in 2019 by Pierre Proner (CEO), Jaime Van Oers (CTO), and Flinn Dolman, Lawhive leverages AI to automate routine legal tasks, cutting costs for clients by up to 50%. The platform offers tools for:
• Workflow management
• Compliance tracking
• Payments integration
At its core is Lawrence, an AI-powered “virtual lawyer” that has passed part one of the Solicitors Qualifying Examination (SQE) and matched the performance of human lawyers in tests.
Closing the Justice Gap in the US
Lawhive focuses on serving “Main Street” law firms, a market segment historically underserved by legal tech solutions. By reducing administrative burdens, the platform enables lawyers to handle more clients, providing cost-efficient services for consumers and small businesses.
CEO Pierre Proner explained:
“By augmenting the work of human lawyers with our technology, we’re addressing a critical need in the US market and unlocking new opportunities for millions of attorneys.”
Investors’ Perspectives
Schuster Tanger, co-founder and co-managing partner at TQ Ventures, highlighted the market opportunity:
“The US legal market, arguably the largest in the world, is ripe for disruption. The pressing need for affordable legal access makes it the perfect environment for innovative tech solutions like Lawhive’s.”
Vidu Shanmugarajah, partner at GV, added:
“Lawhive’s rapid growth demonstrates the scaling demand for affordable, tech-driven legal services.”
Future Plans
The new funding will be used to:
1. Expand operations in the US, bridging the justice gap for underserved communities.
2. Enhance AI capabilities, further improving efficiency and cost savings.
3. Grow the team to support its mission of transforming legal accessibility.
Lawhive’s innovative use of AI positions it as a leader in the legaltech space, offering scalable solutions that address the complexities of modern legal services.
