Google Ventures (GV) has doubled down on its support for Lawhive, a London-based AI-powered legal startup, by leading a $40M Series A funding round. This follows its participation in Lawhive’s £9.5M seed round earlier this year.
The latest funding will enable Lawhive to expand its operations into the US legal market, the largest globally, where affordable legal solutions are in high demand.
Key Details of the Investment
- Lead Investors: Google Ventures (GV) and TQ Ventures
- Other Participants: Balderton Capital, Jigsaw, Episode 1 Ventures, and notable Premier League footballers Harry Maguire and Reece James.
- Total Raised: $40M in this round, following a successful seed round earlier in 2023.
Lawhive’s Mission and Technology
Founded in 2021, Lawhive has developed a proprietary AI large language model that automates time-intensive administrative tasks in legal work. The company aims to:
- Augment human lawyers’ capabilities with advanced AI tools.
- Simplify legal workflows, earning it the moniker “Shopify for law.”
- Expand affordable legal access through its lawyer-consumer marketplace, connecting clients with suitable legal professionals.
Lawhive’s vision is to reduce the cost and time of delivering high-quality legal support, addressing the global challenge of unequal access to legal services.
Comments from Stakeholders
- Pierre Proner, CEO and Co-Founder of Lawhive:
“Access to the law should be a basic right, but unfortunately, it isn’t. Our AI-powered solutions aim to change this, combining technology and legal expertise to benefit millions.” - Schuster Tanger, Co-Managing Partner, TQ Ventures:
“The US legal market is ripe for disruption, and Lawhive’s innovative approach positions it perfectly to meet the demand for affordable legal services.”
Industry Impact
Lawhive joins a growing list of AI-driven legal tech startups, such as Robin AI and Luminance, that are transforming the legal industry. The infusion of generative AI technology into legal workflows is streamlining operations, reducing costs, and improving access to justice.
With this significant backing, Lawhive is poised to disrupt the legal market further and set a new standard for AI-assisted legal services globally.
