Legl, the ‘SaaS platform for law firm operations’ and the brainchild of legal tech pioneer Julia Salasky, has bagged $18m in new funding, after getting $7m in March last year – which was something of a record, as the company had only been going 18 months at that point. And this new funding comes just over a year after that.
Salasky told Artificial Lawyer: ‘On a personal level, it’s a fantastic validation of the hard work that the team has put in since we launched. It feels very exciting to have the firepower to take the business on the next phase of the journey.’
The fundraise was led by several technology investors, including existing investor Octopus Ventures.
All well and good, but what does Legl do? Here is how they explain things: ‘Legl combines the automation of manual business processes for regulated law firms, like compliance, risk, onboarding and payment, with a lightweight CRM and flexible, no-code workflows. It enables law firms to better manage cash flow and mitigate risk, through better understanding client data and managing the entire client lifecycle.’
In a little over 2 years since launch Legl has partnered with over 170 law firm customers, including 20 of the Top 200 firms in the UK.
Legl will use the funds to drive product expansion and development, scale the team and grow into other markets, the company said.
Malcolm Ferguson, Investor at Octopus Ventures, added: ‘We’re delighted to continue to support Julia and the team on their mission to free up lawyers’ time so they focus on creating value for their clients. The company has grown really strongly over the last 12 months, and is positioning itself to become the go-to solution for law firms looking to modernise and automate their non-core work.
‘Not only does this improve a law firm’s revenues, and margins, but also means they can deliver a meaningfully better experience to their clients. We’re excited to see what Julia can achieve with this funding over the coming years.’
Overall, this kind of software should be beneficial for smaller to medium size law firms, and help them to get a better grip on a range of needs, from CRM, to compliance and onboarding new clients. And as mentioned, the speed at which the funding has arrived for Legl is especially noteworthy.