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Australian legal technology startup LawPath announced today that it has finalised an investment round led by LegalZoom, the world’s largest provider of online legal solutions.
Since launching in 2013, LawPath has been at the forefront of disrupting Australia’s $22 billion legal market, providing technology powered legal solutions at a fraction of the time, cost and complexity required by the traditional system. More than 60,000 Australian businesses and individuals have used LawPath to start a business, register a trademark, create legal documents or hire a lawyer online.
LawPath follows in LegalZoom’s footsteps by leveraging technology to provide affordable and high-quality legal services. LegalZoom, the most recognised legal brand in the US by a wide margin, has served more than 4 million customers in the US and UK since its founding in 2001.
“As the clear market leader in Australia, LawPath offers one of the most innovative technology-enabled online legal solutions that we’ve seen globally,” said Frank Monestere, LegalZoom president and COO. “We are extremely excited to partner with the LawPath team in their expansion efforts.”
LegalZoom will provide LawPath with strategic guidance, including technology expertise, marketing insights and assistance with LawPath’s expansion plans across Australia and into international markets.
“We are incredibly excited to form an alliance with the pioneer of legal technology services,” stated Dominich Woolrych, LawPath CEO. “LegalZoom’s investment and ongoing support significantly advances our drive to make legal services more accessible to everyone.”
Similar to LegalZoom’s business model, LawPath’s service offerings are not positioned as a replacement for lawyers and, in fact, the platform facilitates customer interaction with lawyers. More specifically, LawPath’s services leverage technology to enable its customers to more efficiently complete legal tasks online and easily connect with lawyers offering the desired expertise.
“Our technology platform allows customers to complete many simple legal tasks themselves, bypassing a traditional process that is costly, labor-intensive and time-consuming,” Woolrych added. “We’ve seen strong adoption, particularly from the more than 65% of our business customers who had never engaged with a lawyer prior to LawPath. This underscores our attractive market opportunity within the Australian legal services industry where millions of legal needs go unanswered every year.”
LegalZoom joins the ranks of existing LawPath investors including: LexisNexis; Macdoch Ventures, the family office of former News Corporation executive Alasdair MacLeod and investor in notable high-growth Australian start-ups such as Canva, Temple & Webster and Siteminder; Adcock Private Equity, also a Canva investor and founder of Pandora Jewellery; and a syndicate led by Ben Keeble, Principal at Fort Street Advisors and director of technology company Ansarada.
LawPath plans to use the proceeds to increase sales and marketing efforts in a bid to expand market penetration across Australia and offer its services to all types of businesses.
“The next few years will bring a huge shift in how legal services are delivered in Australia,” Woolrych added. “Insurance, accounting and financial services have already moved online in a significant way, while online legal services have been adopted in the US as illustrated by LegalZoom’s success. Our market leadership and additional funding demonstrate that LawPath is ideally positioned to drive Australians to embrace online legal services as well.”
LawPath is Australia’s leading provider of online legal services for businesses and individuals, providing technology powered legal solutions at a fraction of the time, cost and complexity of the traditional system. LawPath’s online legal hub provides an easy one stop shop for legal services. Since launching in 2013, LawPath has helped over 60,000 Australians save over $20 million in legal fees.
For more information please see www.lawpath.com.au/about-us
LegalZoom is a trusted platform of people and technology that gives the world access to consistently high quality legal solutions. As the nation’s leading provider, LegalZoom empowers millions of people to protect what matters most to them. Whether it’s helping small business owners or families, LegalZoom is at the vanguard of efficiently delivering high touch, high service legal help. By changing the approach to obtaining legal help, LegalZoom helps people become informed, educated and secure in their legal options and decisions. Since its founding over 15 years ago, LegalZoom has serviced 4 million customers in the US and the UK, and is now over 1000 employees strong.
For more information, please visit www.LegalZoom.com.