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Lawpath gets $4.4m funding boost
Australian legal startup Lawpath recently closed a $4.4 million oversubscribed fundraising round, which its CEO says reflects a change in attitude towards the online sphere and away from traditional legal services.
Jerome Doraisamy
Earlier this month, Lawpath had what it called “one of the largest capital raises for legal tech in Australian history”, closing at $4.4 million in an oversubscribed round.
Lawpath CEO Dominic Woolrych said it was “fantastic” to once again receive backing from its investors.
“This funding allows us to accelerate our growth here in Australia and move up into Asia. It takes us one step closer to our goal of being the ‘Xero of Law’,” he posited.
“Over two million Australians visit Lawpath each year to find legal help. Both clients and lawyers can sign up for a free trial of the platform, which has now been used by roughly 1 per cent of Australian SMBs.”
Since 2014, Lawpath has been a pioneer in the booming Australian legal technology scene, providing online legal solutions at a fraction of the time, cost and complexity of the traditional system. The company’s capital raise follows a broader global trend towards embracing legal technology, in which more than $1.9 billion was raised last year.
Mr Woolrych added that the company’s capital raise “follows a broader global trend towards embracing legal technology, in which more than $1.9 billion was raised last year”, and that Lawpath’s latest funding round reflects a shift in attitudes towards online and less traditional legal services.
“Over 87 per cent of businesses still struggle to engage or access legal services,” he noted.
“Australians are embracing a new wave of legal technology, which, similar to online banking or accounting, has made this core service accessible online. We hope with this capital we can continue to help everyday Australians get the legal help they actually need, but often neglect due to cost and complexity.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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