Google Ventures continues to support Lawhive, a startup in the AI legal sector, with a new $40m investment.
- GV previously invested £9.5m in Lawhive during its seed round just eight months ago.
- The fresh funding will help Lawhive expand its operations into the United States.
- Lawhive aims to revolutionise the legal market by integrating AI to aid human lawyers.
- Other investors include TQ Ventures, Balderton Capital, and Premier League footballers.
Google Ventures (GV) has reaffirmed its commitment to the AI legal startup Lawhive by leading another investment round. Just eight months after spearheading a £9.5 million seed investment, GV stands at the forefront of a new $40 million Series A funding. This substantial financial backing is intended to facilitate Lawhive’s strategic entry into the United States market, which is renowned as the largest legal market globally.
Lawhive’s CEO and co-founder, Pierre Proner, emphasises that by enhancing the capabilities of human lawyers through their technology, the company aims to meet the increasing demands of the US legal market. Proner states, “By augmenting the work of human lawyers with our technology, we’re addressing a critical need in the US market and unlocking new opportunities for millions of US attorneys.”
The Series A funding round attracted notable co-investors, including TQ Ventures, Balderton Capital, and Jigsaw, along with Premier League footballers Harry Maguire and Reece James. Schuster Tanger, TQ Ventures co-managing partner, stated, “The US legal market, arguably the largest in the world, is ripe for disruption. The pressing need for affordable legal access makes it the perfect environment for innovative tech solutions like Lawhive’s.”
Established in 2021, Lawhive has developed an AI large language model designed to handle administrative legal tasks that are traditionally time-intensive. The startup likens its approach to being a “Shopify for law” as it streamlines legal processes for businesses. Additionally, Lawhive operates a marketplace that connects consumers and businesses with lawyers.
The legal sector has observed a growing trend in the incorporation of new generative AI technologies. Similar startups such as Robin AI and Luminance have secured significant funding rounds recently. Lawhive’s vision, as articulated by Proner, is to integrate AI with top-tier lawyers to minimise the time and expense of legal support, thus enhancing accessibility for those in need.
Google Ventures’ continued investment signifies confidence in Lawhive’s innovative approach to transforming the legal industry.
