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[Funding alert] London-based Lawhive Raises over €11 Million in Seed Funding

Apr 15, 2024 | By Startup Rise EU

Lawhive, a London-based AI-powered platform for lawyers, has raised over €11 million in startup money to further its goal of lowering the cost and simplifying the process of getting high-quality, knowledgeable legal assistance for consumers and small businesses.

Lawhive, a London-based AI-powered platform for lawyers, has raised over €11 million in startup money to further its goal of lowering the cost and simplifying the process of getting high-quality, knowledgeable legal assistance for consumers and small businesses.

The UK consumer legal sector, believed to be worth £25 billion, has drawn criticism for its exorbitant fees and convoluted, jargon-filled, and alienating procedures. Because of this, each year about one million enterprises and four million individuals are left to deal with significant legal issues on their own without the support of an attorney.

Attorneys can work directly with clients or through the Lawhive marketplace, they can match themselves with consumers and small businesses. The Lawhive platform allows solicitors to save a significant amount of time, while also providing significant cost and efficiency benefits to their clients by utilising state-of-the-art AI to handle numerous elements of legal practice.

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Because of this, Lawhive handles a wide range of typical legal issues that were formerly the purview of conventional high-street law offices.

It has developed an operating system for consumer law that automates routine, repetitive administrative procedures including KYC/AML, client onboarding, and document gathering. Lawhive presently works with more than 100 solicitors and lawyers throughout the UK.

By using Lawhive, solicitors can work more productively and concentrate on the more satisfying aspects of their career while making a lot more money than they would at a conventional high street practice.

Lawrence, an AI lawyer at the heart of the Lawhive platform, was developed on top of Lawhive's own optimised LLM, which has outperformed all other LLMs in handling legal work. Lawrence achieved a passing grade of 81% on the Solicitors Qualifying Examination (SQE), above the required passing level of 55%.

Lawrence may already perform legal work at the junior or paralegal level, supporting the work of more experienced solicitors and freeing them up to concentrate on managing the most important aspects of a case and helping their clients.

Pierre Proner, CEO and co-founder of Lawhive, said: “Access to the law should be a basic right, available to everyone. Unfortunately this isn’t the case. Our vision is to combine AI and best-in-class lawyers to reduce the time and cost of providing high-quality legal support, increasing access for millions of people who need it.”

With the money it has raised, the company intends to hire more people for a variety of positions, including software developers and AI experts.

Vidu Shanmugarajah, Partner at GV, said: “As a lawyer by training, I have experienced firsthand how needed technology-driven innovation is in the legal sector. Lawhive represents a transformative shift for both lawyers and consumers. Through combining a feature-rich platform with groundbreaking AI, Lawhive not only dramatically improves legal workflows but also makes high quality legal advice more accessible and affordable to a broader audience. This investment underscores our belief in Lawhive’s potential to redefine the legal industry. “

About Lawhive

A group of individuals who are committed to simplifying, enhancing accessibility, and making legal services more manageable for all people formed Lawhive. They are expanding the greatest network of attorneys in the UK to provide people, families, and small businesses with expert legal services at fair prices.

They offer their services online so that anyone can access them at their convenience, day or night. The solicitors that work on their platform are carefully chosen by them to guarantee that they live up to their high standards of service and that they possess the requisite legal authorizations and specialised knowledge.

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