The COVID-19 pandemic has accelerated the legal sector and given rise to a significant opportunity to capitalise on increased budgetary pressure and interest in cost-saving software tools. A recent report by Thomson Reuters identified that 84% of Law Partners surveyed expected their technology investment to increase and had a greater openness to experiment with different forms of service delivery and operational processes.
Automates legal processes with tech!
London-based Legatics is an intuitive legal transaction management software that simplifies and automates traditional legal processes. The legaltech company just bagged £3 million growth capital investment from Mobeus to develop its platform and further build up on its strong customer acquisition. Also, Joe Krancki will join the board after the completion of this round.
Legatics will use this investment to double the size of its team over the next 18 months and further develop its technology to deliver new features and use cases for a wider range of practice areas within new and existing customers.
“Legatics’ mission is personal to me”, said founder and CEO Anthony Seale, “having experienced first-hand how legal transactions can be slow, inefficient and leave clients in the dark, we set out to change that with a centralised online platform”.
Daniel Porus, who teamed up with Anthony early in the company’s journey and is now Chief Commercial Officer, added, “We have seen how law firms and their clients increasingly see the benefits of legal transaction management software and consider Legatics as an essential tool within their tech stack. Much of our growth to date has been a result of the positive network effects from people using Legatics on their transactions and I am now really excited to see accelerated growth for Legatics as a result of this investment.”
Katia, Mobeus Investment Analyst, said, “Mobeus identified LegalTech as having significant potential, given the pace of adoption of new technology and the ongoing M&A appetite of existing technology providers. We are really excited about working with Anthony, Daniel and the rest of the team, and were impressed by the product, which has been designed with specific and subtle intuitive features critical to the high-level adoption Legatics has achieved to date.”
Anthony Seale, CEO of Legatics, added, “We are all passionate about the opportunity to make legal transactions more transparent and efficient. This funding and partnership from Mobeus, validates the significant opportunity to scale up the team as well as really accelerate product development with new features and use cases and bring the platform to a more global audience.”
Brings in transparency in legal tech
Established by Anthony Seale in 2015, Legatics transforms legal transactions by enabling deal teams to collaborate on and close deals in an interactive online environment. The legaltech solution was designed by lawyers to improve legacy working methods and solve practical transactional issues. The legal transaction management platform increases collaboration, efficiency and transparency.
Since its debut, Legatics has been used by around 1,500 companies, and has been procured by more than half of the top global banking and finance law firms, with matters having been hosted in nearly 50 countries. The company provides a better deal experience for all parties, and freeing lawyers from unnecessary administrative tasks.