UK LegalTech startup Lawhive secures €50 million to scale AI-driven consumer law firm model
European LegalTech is experiencing a surge in investment, with companies leveraging Artificial Intelligence to revolutionize legal services. Lawhive, a London-based startup, has secured €50 million in Series B funding to expand its AI-driven consumer law firm model globally, particularly in the US market. This significant funding round underscores growing investor confidence in AI's potential to address inefficiencies and accessibility issues within the legal sector. The funding for Lawhive, led by Mitch Rales with participation from prominent venture capital firms, follows a substantial €37.9 million Series A round just last year. The company has demonstrated remarkable growth, with annual revenue exceeding €29 million, a sevenfold increase over the past twelve months. Lawhive's CEO, Pierre Proner, highlighted AI's capability to overcome manual processes that hinder lawyer efficiency and client access to affordable, predictable legal assistance. This trend is mirrored across Europe, with substantial investments in various LegalTech solutions. Swedish firm Legora raised €70.6 million for its collaborative AI platform for legal teams, while London’s Orbital secured €50 million for its AI-powered real estate law workflows. These investments, alongside rounds for companies like Lexroom, Pandektes, Augmetec, Ex Nunc Intelligence, Saga, and iPNOTE, collectively represent approximately €146 million invested in the European LegalTech landscape, signaling a robust innovation ecosystem.
Curated and translated by Europe Digital for our multilingual European audience.
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