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Lawpath launches in US
Australian legal tech start-up Lawpath has launched its platform in the US after “record” growth in the Australian market.
Lauren Croft
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Lawpath’s platform will now be available for use for US small businesses and start-ups after it launched into the US market on Thursday (15 September).
American businesses can now draft, collaborate, e-sign and manage legal documents using Lawpath’s Contract Management System, already used by over 300,000 Australians. This launch also includes its Legal Workflow Software and automated recommendation engine, simplifying decision-making by offering data-driven recommendations to its customers. The company is yet to launch its business set-up software or on-demand lawyer and accounting plans; however, it will roll out further functionality as the expansion progresses.
Lawpath has grown exponentially since being founded in 2014 in Sydney — and last October, it closed a $7.5 million funding raise before appointing a new chairman, Tony Faure, earlier this year. Chief executive Dominic Woolrych (pictured) said he was particularly excited to be able to now offer the platform to US businesses.
“Having helped over 300,000 businesses save millions on legal fees in Australia, we’re excited to take our business to the US where we believe there is an even greater need for on-demand, affordable legal services,” he said.
Australia is projected to gain 3.5 million new small businesses by 2031, following similar new business growth in the USA, which grew in 2021 by 20 per cent (higher than any previous year on record). These businesses are looking for new and online ways to meet their legal needs. Before making the decision to take the platform global, Lawpath had over 800 subscribers already based in the US using its solutions.
“The pandemic caused two major shifts for businesses; one [is that] many more people around the world are starting their own businesses or ‘side hustles’. And two; businesses have had to rethink how they access professional services,” Mr Woolrych added.
“Currently, only 8 per cent of legal services are conducted online, compared with 70 per cent for accounting and 40 per cent for medicine, yet legal is yet to match its peers. However, with the right tools most businesses choose to do their legal online as well in our experience.”
Lauren Croft
Lauren is a journalist at Lawyers Weekly and graduated with a Bachelor of Journalism from Macleay College. Prior to joining Lawyers Weekly, she worked as a trade journalist for media and travel industry publications and Travel Weekly. Originally born in England, Lauren enjoys trying new bars and restaurants, attending music festivals and travelling. She is also a keen snowboarder and pre-pandemic, spent a season living in a French ski resort.
