Tech-focused legal start-up, LegalVision, has taken on one of Australia’s premier law firms, Gilbert + Tobin, as a strategic investment partner in its latest funding round to drive growth and an expansion of its services. The investment was more than $1 million.
Since launching three years ago, LegalVision has carved out a reputation as a disruptive and innovative law firm, which uses tech and content to help clients quickly and efficiently.
Initially focused on the small to medium market, LegalVision is looking to provide legal services to businesses of all sizes.
The investment creates opportunities for collaboration with Gilbert + Tobin to serve the needs of larger commercial clients with efficiently delivered, quality legal solutions.
As part of the investment into LegalVision, Gilbert + Tobin’s Chief Operating Officer, Sam Nickless, will join the board of LegalVision.
What does this investment mean for LegalVision?
LegalVision CEO Lachlan McKnight said the investment by Gilbert + Tobin heralded a new and exciting pathway for the emerging company.
“This was a strategic raise for LegalVision, giving us the opportunity to bring in Gilbert + Tobin as an investor and partner,” Lachlan remarked.
“We are already planning our Series B round, which we’ll close in mid 2016,” he revealed.
Earlier this year, in March, LegalVision announced that it had raised $1.2 million in funding from several Australian-based investors, bringing the total capital raised by the Sydney-based start-up at the time to over $1.6 million.
“This investment is a huge vote of confidence for LegalVision and further validation that we’re on the right track as a firm. We’re clearly doing something right.
“It’s also a signal to the market of the clients we’re trying to attract now. While SMEs are our core focus and important to our continued growth, we’re also looking to provide services to larger clients on a wide range of legal needs, which is the whole idea of working with Gilbert +Tobin.
“Gilbert + Tobin understands that the legal industry is inevitably going to be disrupted by tech driven firms like LegalVision and have seen an opportunity to work with a disruptor. With Sam Nickless on our board we plan on looking closely at ways in which the two businesses can work together.”
Why has LegalVision attracted this funding?
Gilbert + Tobin Managing Partner Danny Gilbert is excited by the prospect of the firm participating in this emerging sector of the law.
“For a while now we have been examining how the use of new technology and processes can provide efficiencies and improvements for current and future clients,” Danny said.
“It is critical for the firm to stay progressive and this investment provides Gilbert + Tobin the opportunity for further innovation and growth as it responds to ongoing disruption in the legal market.”
Lachlan also highlighted that LegalVision had grown to over 40 staff including a team of solicitors, web developers, content producers, IT and marketing specialists in less than three years.
“The market for LegalVision’s services is huge, and covers a range of businesses, from smaller business looking for fixed-fee, cost-effective, high-quality legal services, to large corporates who look to leverage LegalVision’s tech platform,” he said.
“Our long term goal is therefore to continue our rapid expansion and reach a size which will allow us to provide every Australian business with access to our tech driven, fixed-fee solutions.”