Australian online legal disruptor, LegalVision recently announced that it had secured $4.2 million in capital for its Series B financing round, continuing its growth in the Australian legal market. Gilbert + Tobin led the latest round, having also led LegalVision’s previous investment round in November 2015.
LegalVision delivers high-quality, affordable and responsive legal services through an innovative and tech-driven business model.
The award-winning online firm provides high-quality, cost-effective, fixed-price legal services to Australian businesses seeking legal assistance, advice or documentation.
It has created a market disruption that not only changed the way Australian SMBs can access legal support but that has driven strong revenue and market share at the same time, offering over 3,000 legal articles and 40 free legal documents on its website.
In just over three years, LegalVision has assisted more than 15,000 Australian businesses – including startups, SMEs and large listed companies.
How will LegalVision use this funding?
LegalVision will use the additional financing to expand its tech offering, exploring how machine learning and self-executing smart contracts can help LegalVision deliver its services even more efficiently.
LegalVision will also increase its presence in underserved regional communities, as well as major international cities with significant Australian trade flows.
The Series B financing builds on an exceptional year for LegalVision, which grew from 20 to 60 employees in 12 months. Over the past year, LegalVision has rolled out its innovative model to major Australian companies, assisting General Counsels and other senior management to reduce legal spend.
“We are thrilled to continue working with Gilbert + Tobin. Their backing is a tremendous validation of our goal and progress to date” said Lachlan McKnight, CEO at LegalVision.
“There is still much to accomplish – and this investment round provides the foundation for LegalVision to keep achieving in the coming months and years.”
Gilbert + Tobin’s Chief Operating Officer, Sam Nickless, is a member of LegalVision’s Board, and said this additional investment reflected G+T’s commitment to innovation in the legal services market.
“LegalVision is growing strongly in its core market and there are significant opportunities for G+T and LegalVision to work together to develop innovative solutions for our clients,” he commented.
“Our Series B round will be used to further enhance our legal and tech offering. In everything we do, our focus is on providing an amazing experience for our clients” said Evan Tait-Styles, CTO at LegalVision.
