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Lexoo in the press

 

It’s almost impossible these days for legal professionals to operate without the aid of technologies such as automation, data, and AI. The lawtech movement has expanded rapidly across the sector, making legal processes faster and more efficient, reducing operating costs, and making legal services more accessible to those who need them.

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Traditional commercial law firms are “on their death bed” and must change their business models to survive, the general counsel of three leading tech companies have warned.

However, one of them, James Sullivan, vice-president of legal at digital bank Monzo, said there was hope, talking about a visit he received this week from a law firm that offered both non-legal services and an AI-based contract review tool.

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A third of companies plan to set diversity targets for their external legal advisers and those failing to meet them risk losing work, a recent survey has shown.

Research published this week found that 34 per cent of UK businesses plan to introduce or enhance targets to improve the diversity of their external legal advisers, and nearly a third of in-house lawyers have ditched external firms for not providing a sufficiently diverse team.

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At Legal Geek, the biggest, most hyped legal technology event of the year, with its high-fives, street food and a no-ties rule (which saw lawyers looking a lot less important in jeans and trainers), there were calls for less hype and realistic reporting.

They got what they wanted. There was significantly less reporting at Legal Geek than in previous years. It did, however, deliver on its promise of ‘a year’s networking in a day’. Everyone who is into legal tech was there, and it was great to catch up with friends from all over the world at the event that launched the global lawtech start-up movement. 

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Magic circle player Clifford Chance has developed a tech-focused internship for some of its future trainees, teaming up with London start-up Lexoo.

The aspiring City lawyers will spend two months working alongside staff at Lexoo, gaining exposure across the start-up’s product, marketing, business development and operations functions. Lexoo, an online legal marketplace, will also provide the firm’s soon-to-be rookies with crash courses in coding and data analytics. 

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Lexoo, the legal tech startup helping companies ‘rapidly identify and obtain cost-effective and transparent legal services’, has closed a $4.4M Series A financing round led by Earlybird with participation of Forward Partners and Ned Staple, General Counsel at Zoopla Property Group, amongst others.

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Often described as the legal equivalent of Uber, flexible lawyering start-up Lexoo has secured $4.4m in financing to overhaul its global business development. The backing has been led by investment house Earlybird with additional financing from Forward Partners and Zoopla general counsel (GC) Ned Staple.

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Legal marketplace pioneer, Lexoo, will use some of its recent $4.4m funding to develop its own legal tech applications to support the lawyers who work through the platform and to provide a deeper infrastructure for them to use on client matters.

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An online lawyer-matching business targeted at companies has secured £3.4m in its latest funding round with an investor predicting that it could become “a virtual and distributed tech-driven global law firm”.

Lexoo’s series A financing round was led by Earlybird, a venture capital investor focused on European technology companies, with participation of existing investor Forward Partners and Ned Staple, general counsel at Zoopla Property Group, amongst others.

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It’s a familiar conundrum for young lawyers. You’ve bagged a job at a big City firm. You’re well-paid and respected, and, not too far away in the future, there’s the holy grail: partnership. Trouble is, you’re not happy. You work long (very long) hours, but it’s not just that. It’s the disconnect between your hourly rate, and what seems fair for clients.

Lexoo’s founder, Daniel van Binsbergen, is a lawyer who experienced the conundrum – and solved it. “I was working for a very good firm,” he tells me, when we meet in his offices in Old Street, London...

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After more than five years at a leading City law firm, Daniel van Binsbergen quit his job as a solicitor to found Lexoo, a digital start-up for legal services in the fledgling “lawtech” sector. Mr Van Binsbergen says he is one of many. “The number of lawyers who have been leaving to go to start-ups has skyrocketed compared to 15 years ago,” he estimates.

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Wanderlust is rarely more pressing on the psyche than at the end of an unrelenting winter. After the Beast from the East gave us one of the coldest on record, Britons have probably spent even more time than usual staring from office windows and dreaming about far flung, warm, sunny places.

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Finding the right lawyer as an SME has gotten easier thanks to tech platform Lexoo.The company’s ‘lawyer matching’ service brings top quality solicitors to small businesses at transparent prices. It’s free for customers and quotes are usually returned within 24 hours, explaining why the team of eight has attracted significant investment.

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Looking to disrupt an old-fashioned industry, tech start-up Lexoo launched in June 2014 to revolutionise the way entrepreneurs and businesses find lawyers.

Three years since launch and the online platform has helped over 13,000 companies of all sizes connect with the right lawyer for their job.

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