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ANALYSIS: Legal Tech’s Boom Wanes, But It Isn’t Over Yet

May 28, 2020, 8:46 AM

Legal tech is hurting from the Covid-19 downturn. While 2019 was the biggest year yet for investment in legal technology companies, with a total of $1.382 billion, 2020 is seeing investment slowing and layoffs and salary cuts in the sector.

But this doesn’t spell doom for the legal tech sector. The pandemic’s work-from-home environment has forced an attitude adjustment, even among the legal industry’s most stubborn Luddites. And that will provide an opportunity for legal tech companies.

“People who had been resistant to change and resistant to technology adoption, they just don’t have any options anymore,” said Jeanne Somma, legal...

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