"UK-founded legaltech business Lawhive has raised $60 million (£47m) in Series B funding as it accelerates its expansion across the US consumer legal market and doubles down on its AI-driven operating model. The round was led by Mitch Rales, co-founder of Danaher Corporation, one of the world's most successful public companies. Existing and new backers participating in the round include TQ Ventures, GV, Balderton Capital, Jigsaw, Anton Levy and LTS."
"Founded to tackle inefficiencies in consumer legal services, Lawhive is targeting one of the largest and most fragmented markets in the US. Consumer legal services generate an estimated $200 billion in annual revenue, yet industry research suggests up to $1 trillion in legal needs go unmet each year due to high costs, slow processes and heavy reliance on manual workflows."
Lawhive secured $60 million in Series B funding to boost expansion across the US consumer legal market and strengthen its AI-driven operating model. The business recently surpassed $35 million in annualised revenue after sevenfold growth within 12 months and now operates in 35 US states with plans for nationwide coverage. Lawhive targets a fragmented consumer legal market estimated at $200 billion annually while addressing up to $1 trillion in unmet legal needs caused by high costs, slow processes and manual workflows. The AI-native platform automates document drafting, legal research, case management, onboarding and payments, and its AI paralegal Lawrence supports more than 450 lawyers.
Read at Business Matters
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