Australian legaltech firm Lawpath banks $3m for Asian expansion

Lawpath, a legal startup based out of Australia, has closed an A$4.4 million (US$3 million) oversubscribed funding round led by Adcock Private Equity.

Pollenizer Investments, LegalZoom, Fort Street Advisors, Machdoch Ventures, and Nick Abrahams, head of innovation for global law firm Norton Rose Fulbright, also participated in the round.

The Lawpath team / Photo credit: Lawpath

Since 2014, Lawpath has been providing online legal solutions aimed at saving time and costs compared to traditional systems for businesses and individuals. Currently, the company claims to operate a marketplace with 1,000 online lawyers.

Both clients and lawyers can sign up for its platform, which is now being used by about 1% of small and medium-sized businesses in Australia, said Lawpath CEO Dominic Woolrych in a statement. Over 2 million Australians also visit the platform each year to seek legal aid, the head exec added.

The company plans to use the new funds to further develop its products, increase its marketing efforts, drive growth for its business in Australia, and enter Asia.

Lawpath’s capital raise follows a string of product launches, including its Legal Advice Plan service, which gives Australian businesses access to a lawyer for a monthly fee. The company also launched an e-signature tool that allows users to sign Lawpath documents online or upload their own e-signature.

“Over 87% of businesses still struggle to engage or access legal services,” said Woolrych. “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.”

Currency converted from Australian dollar to US dollar: US$1 = A$1.45.