Last week in London a bunch of legal tech entrepreneurs got together to discuss the latest innovations in areas like legal services marketplaces, online directories, case management software, and online content.
The session started with a short pitch from CLAWS, a computational case law research start-up.
Hosted by freelance lawyer, Jonathan Lea, a panel session followed comprised of:
- Saleem Arif, the founder of QualitySolicitors and ReviewSolicitors
- David Bushby, COO of Lexoo, a UK-based “lawyer matching” start-up
- Mark Edwards, UK country manager at Rocket Lawyer
- Ivan Rasic from LegalTrek, a case management software provider
Lexoo’s David Bushby, whose site secured $400,000 in financing earlier this year, made some interesting observations about the state of legal start-ups:
- There are around 500 legal start-ups worldwide at the moment
- 17% of all legal start-ups worldwide are marketplaces/directories
- 80% of all legal tech start-ups are US based
- Only a small number of legal start-ups are UK-based, as the market is more focused on “fintech” (financial technology) than legal
Rocket Lawyer’s Mark Edwards said that:
- 43% of all small and medium sized enterprises go online in first instance to find lawyer
There was agreement that a wave of US legal tech start-ups is likely to hit the UK soon, with many watching Avvo closely.