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Come of age: LegalZoom invests $1.8m in LawPath

Added on the 9th Jul 2018 at 2:21 pm
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It doesn’t seem so long ago that we were reporting on LegalZoom’s latest funding round but in a ‘come of age’ legaltech story, the California-headquartered giant has invested $1.8m in Australian law tech startup LawPath.

The investment will see LawPath expand its extensive reach of services, which, much like LegalZoom include online legal documents and supporting services.

Since launching in 2013, more than 60,000 Australian businesses and individuals have used LawPath to start a business, register a trademark, create legal documents or hire a lawyer online.

“This exciting investment will enable our frontier pathway to disrupt the Australian legal system to continue,” Dominic Woolrych, LawPath’s chief executive officer, said. “We are thrilled by the opportunities partnering with a global legal services provider will bring.”

LawPath follows in LegalZoom’s footsteps by leveraging technology to provide affordable and high-quality legal services. LegalZoom, is the most recognised legal brand in the US and has served more than four million customers in the US and UK since its origination in 2001.

“As the clear market leader in Australia, LawPath offers one of the most innovative technology-enabled online legal solutions that we’ve seen globally,” Frank Monestere, LegalZoom president and chief operating officer, says. “We are extremely excited to partner with the LawPath team in their expansion efforts.”

LegalZoom will provide LawPath with strategic guidance, including technology expertise, marketing insights and assistance with LawPath’s expansion plans across Australia and into international markets.

LegalZoom joins the ranks of existing LawPath investors including: LexisNexis; Macdoch Ventures, the family office of former News Corporation executive Alasdair MacLeod and investor in notable high-growth Australian start-ups such as Canva, Temple & Webster and Siteminder; Adcock Private Equity, also a Canva investor and founder of Pandora Jewellery Australia; and a syndicate led by Ben Keeble, Principal at Fort Street Advisors and director of technology company Ansarada.

LawPath plans to use the proceeds to increase sales and marketing efforts in a bid to expand market penetration across Australia and offer its services to all types of businesses. “The next few years will bring a huge shift in how legal services are delivered in Australia,” Woolrych says. “Insurance, accounting and financial services have already moved online in a significant way, while online legal services have been adopted in the US, as illustrated by LegalZoom’s success. Our market leadership and additional funding demonstrate that LawPath is ideally positioned to drive Australians to embrace online legal services as well.”

One Comment

  1. PK says:

    Can I ask is that US dollars or Aus dollars, big difference in the exchange rate, about £200K-£300K difference.

    From an external investment pov, for a software company that is not a huge investment, may feel like it is to outsiders but that amount of money will be burnt up very quickly.

    As an investor I’d want to do some thorough forensic examination of the “60,000” beyond a press release statement.

    PK

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