LawAdvisor Ventures has secured £4.1 million of seed investment from legal and technology heavyweights.

Founded in Melbourne, Australia and now headquartered in London, LawAdvisor’s capital injection includes investment from Ralph Baxter (former chairman and CEO of Orrick), Ben Davey (former CEO, Barclays Ventures), Jason Barnwell (general manager and associate general counsel at Microsoft) and Lars Rasmussen, founder of Google Maps and a former engineering director at Facebook.

Early last year, LawAdvisor launched two software as service solutions for the legal profession –  LegalEye and Fibonacci – to transform how law firms work with corporate in-house legal departments and the way legal matters are managed. 

Both use technology to enhance collaboration and communication between lawyers and other stakeholders during the course of a legal matter to boost productivity and maximise the time lawyers spend on case work rather than administrative tasks.

The company has already achieved annual recurring licence revenues in excess of $2 million. Early multinational clients including Bird & Bird, Simmons & Simmons, Paul Hastings, Clifford Chance, Shearman & Sterling and Barclays. 

Baxter, who sits on boards of Intapp, Lex Machina and LegalZoom, believes LawAdvisor has the capacity to revolutionise the way lawyers work with clients. 

“We’re at a pivotal moment for legal technology. To make a difference, LegalTech companies must understand the pain points facing lawyers and their clients, and fashion solutions that meaningfully address them; LawAdvisor does just that, making it an exceptional new contributor to the legal services ecosystem,” he said. 

“Led by a remarkable team, LawAdvisor has the potential to change the way legal service is delivered, for the benefit of everyone. I am excited to help the team realise these goals.”

We started in a Portakabin – now we’re a multi-million-pound tech business

The investors will also form a new advisory panel aimed at helping LawAdvisor further develop its technology and capitalise on the significant opportunities to reshape the way the law is practised to the benefit of all parties.

The advisory panel is being joined by Steve Albrecht, general counsel Barclays Execution Services; Christopher Grant, consultant and LawTech UK panel member; Stephanie Hamon, head of legal operations consulting at Norton Rose Fulbright; and David Kerr, former CEO, Bird & Bird.