UK-founded legaltech business Lawhive has raised $60 million (£47m) in Series B funding as it accelerates its expansion across the US consumer legal market and doubles down on its AI-driven operating model.
The round was led by Mitch Rales, co-founder of Danaher Corporation, one of the world’s most successful public companies. Existing and new backers participating in the round include TQ Ventures, GV, Balderton Capital, Jigsaw, Anton Levy and LTS.
The raise comes less than a year after Lawhive secured $40 million in Series A funding and caps a period of rapid growth for the company. Lawhive has now surpassed $35 million in annualised revenue, having grown sevenfold over the past 12 months, and is operating in 35 US states, with plans to expand nationwide.
Founded to tackle inefficiencies in consumer legal services, Lawhive is targeting one of the largest and most fragmented markets in the US. Consumer legal services generate an estimated $200 billion in annual revenue, yet industry research suggests up to $1 trillion in legal needs go unmet each year due to high costs, slow processes and heavy reliance on manual workflows.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
