Summary List Placement
Venture capitalists have long been investing in promising legal tech startups: There were 124 deals valued at around $1 billion in the space globally, up from 84 deals valued at $500 million in 2018, according to data from PitchBook.
But VCs aren’t the only ones paying attention. As some of these startups move beyond the early stage big-league legal tech players like Clio and DocuSign have made strategic investments and acquisitions in the space, while others, like the Big Four accounting firms, may also be poised to get in on the action in the future.
Read more: Meet 10 investors who are pouring money into legal-tech startups, from Silicon Valley VCs to Big Law firms
Scott Mozarsky, who focuses on legal and compliance markets as a managing director at investment bank JEGI calls these types of investors “strategics.” He explained that the commoditization of legal services and increasing competition from the Big Four accounting firms, which have been expanding their legal arms, are two factors behind legal tech’s surging popularity among investors.
As much of the country’s workforce remains remote due the ongoing coronavirus pandemic, law firms have had to digitize all aspects of their business process, creating even more …read more
Source:: Businessinsider – Finance