The legal sector is full of cumbersome, simple and mechanistic processes that do not add value. Although it is true that the experience and argumentation skills of lawyers are a differential factor in trials, the number of applications that try to facilitate judicial processes, taking on laborious tasks with little added value or providing legal knowledge to people with a lack of legal knowledge, is growing all the time.
According to the latest study carried out by Expansión, in Spain, "The 80% of lawyers suffer from stress and don't even get six hours of sleep".. But this is a situation that seems to be recurrent in almost all European countries, according to the latest statistics presented.
This is a reality that the LegalTech sector is taking advantage of to facilitate processes, reduce costs and streamline procedures by including technology in a sector as traditional as the legal sector.
Within this sector, we have picked up several relevant operations:
SimpleLegal is an American start-up dedicated to the creation and updating of legal contentHe advises on how to take legal action in everyday situations. He also assists as a personal assistant with problems that may arise on a day-to-day basis within the company.
Gracias a su sencillez y aplicabilidad, esta empresa ha sido capaz de captar $10M por el fondo de capital riesgo Emergence, ayudando así a la creación de nuevos servicios y su expansión a empresas de tamaño mediano.
Leverton is a German company that uses Artificial Intelligence to extract data from contracts and analyse it.The company's services, helping to facilitate the accounting and taxation processes and avoiding litigation by complying with the law in a simple way.
In addition, the platform is available in 25 countries, adapting to the legislation in force in each of them and allowing its use in parent companies with different tax regulations.
Debido a haber sido capaz de obtener a clientes de gran tamaño, incluyendo 200 de las “Fortune 1000”, la empresa ha sido capaz de recaudar 10M€ en la última capital increaseThis has enabled the adaptability of the business to new territories.
This American firm aims to be a reference platform, precisely in the United States, and it has been the initiator of a directory where users can post legal questions and expert lawyers can answer them.This will help to bring justice closer to citizens and reduce the costs of legal consultations.
In addition, Avvo works as a social network, where the recruitment of lawyers specialising in each area can be sought, where their services can be valued and where new lawyers can promote themselves to society.
La escalabilidad del negocio y la capacidad de intermediación han sido claves en el éxito de la plataforma. La empresa ha sido capaz de captar $71,5M a mediados de 2018 para la financiación de nuevas campañas de marketing que permitan a la empresa crecer en número de usuarios.