Lawhive Expands Across Borders with $37.9M Funding to Revolutionize Legal Tech in the U.S.

Deal News | Dec 11, 2024 | Orrick

Lawhive Expands Across Borders with $37.9M Funding to Revolutionize Legal Tech in the U.S.

Lawhive, a UK legal tech startup offering an AI-based SaaS platform for small law firms, has successfully raised $37.9 million in a Series A financing round. The funding round was co-led by GV (Google Ventures) and TQ Ventures, with legal advisory from Orrick. Previously, Lawhive secured nearly $12 million in funding, also with the assistance of Orrick. Lawhive's platform aims to streamline legal processes by combining AI technology with human expertise in order to make legal services more affordable for clients, reportedly reducing costs by up to 50% through the automation of administrative tasks. The recent funding is earmarked for Lawhive's expansion into the U.S., a market characterized by a significant demand for affordable legal services. The company seeks to provide solutions for the 80% of consumers in the U.S. whose legal needs are currently unmet, offering a disruptive technology to address this gap in the market.

Sectors

  • Legal Tech
  • Venture Capital

Geography

  • United Kingdom – The country where Lawhive is currently based and operates.
  • United States – The target market for Lawhive's expansion efforts leveraging its new funding.

Industry

  • Legal Tech – The industry focuses on using technology to provide legal services more efficiently and at a lower cost, which is the primary focus of Lawhive's business model.
  • Venture Capital – The industry involved in funding Lawhive's expansion through investment firms like GV and TQ Ventures.

Financials

  • $37.9 Million – The Series A funding amount raised by Lawhive to facilitate its expansion into the U.S.
  • Nearly $12 Million – The amount Lawhive raised in a previous funding round several months ago.

Participants

NameRoleTypeDescription
LawhiveTarget CompanyCompanyA UK legal tech startup offering an AI-based platform designed to streamline legal processes and reduce legal service costs.
OrrickLegal AdvisorCompanyA law firm providing legal counsel to Lawhive in their recent financing rounds.
GV (Google Ventures)InvestorCompanyA venture capital investment arm of Alphabet Inc. which co-led the Series A funding round for Lawhive.
TQ VenturesInvestorCompanyA venture capital firm that co-led the Series A financing round for Lawhive.
Schuster TangerCo-Founder/Co-Managing Partner at TQ VenturesPersonAn executive at TQ Ventures, providing insight into the U.S. legal market's readiness for disruption.