Alphabet Inc.'s Google Ventures led a nearly $12 million investment into Lawhive, the UK-based legal tech startup said Monday.
Lawhive is focusing on developing artificial intelligence tools for small law firms and consumers, according to the company. It confirmed the new seed round in a LinkedIn post.
The company pairs prospective clients with lawyers at what Lawhive says are significantly lower rates than those offered by traditional law firms. It contracts with 72 consultant lawyers in Britain, according to the Solicitors Regulation Authority.
Lawhive also has developed “Lawrence,” a bot designed to help in-house lawyers draft memos, summarize evidence, and automate work often performed by paralegals.
Episode 1 Ventures also poured money into the latest investment round.
Bloomberg Law also competes in this market and sells AI-based tools that provide contract solutions.
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