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Latest rounds in LegalTech companies


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BY : Diego GutiérrezJune Mon, 2019

Next, we look at the legalTech sector, where a number of financing rounds have taken place in companies such as SimpleLegal, Leverton or Avvo.

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

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.

Thanks to its simplicity and applicability, this company has been able to to capture $10M by the venture capital fund Emergence, thus helping the creation of new services and their expansion to medium-sized companies.

Leverton

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.

Because it has been able to secure large clients, including 200 of the Fortune 1000, the company has been able to raise €10M in the last capital increase, which has enabled the business to adapt to new territories.

Avvo

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.

The scalability of the business and the intermediation capacity have been key to the platform's success. The company has been capable of capturing $71.5M in mid-2018 to fund new marketing campaigns to enable the company to grow its user base.

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Our team of market analysis specialists is continuously analyzing the investments of the most active markets in the industry in order to unceasingly contribute ideas of the current market situation and identify the most relevant trends for senior management. We integrate the most relevant sources of information which allows us to discover the most interesting companies for venture capital and similarly helps us to identify the investors with the highest probability of involvement in an M&A process to ensure the success of our sell-side operations.

The reports and deductions of our advisors provide a broad view of the sector, both geographically and from the complementary or adjacent markets perspective.
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Advanced data anlytics is a weapon". Intelfin is an artificial intelligence tool we use for investing and creating value in SMEs through competitive analytics and the enterprise environment.

IntelFin consists of a cognitive system, which, through the application of advanced analytical technologies, facilitates the automation of investment and financing decisions in the field of non-listed companies and especially SMEs in high-growth sectors.

The information related to these companies is characterized by their lack of transparency and heterogeneity; thus, it is necessary to develop an advanced analysis which is as much predictive as prescriptive and is developed in a natural language custom, suitable to obtain greater clarity and knowledge of the investment scope.

The IntelFin system focuses especially on analyzing the variables that define and influence the competitive environment of a sector and the positioning of a company, analyzing their influence on future value creation. Therefore, IntelFin supports strategic decision-making to senior management by resolving questions such as:

¿What are my competitors' priorities, strategies and expansion plans? Who's my competition? Which competitor is most likely to grow at a higher rate?
Which areas of activity/business models will receive the most investment? Which sectors are most attractive to investors?
Which companies are going to experience the most growth in the near future? Which companies are most likely to receive investment or be acquired?
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We have developed training programs in an innovative set-up which guarantees our teams the acquisition of technical competences both in the field of corporate finance and in the field of psychology, that is much needed when it comes to negotiation processes.

We have a culture of continuous improvement of our processes, closely related to the use of information systems that allow the enhancement of internal communication between our teams, as well as external communication with our customers. Hence, we extend best practices identified internally in an efficient and rapid manner among our members.

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