The Law Society Partners with Seedrs

The Law Society, the representative body for solicitors in England and Wales, has partnered with Seedrs, the most active investor into UK private companies, to connect its members with innovative legaltech startups looking for investment.

The Law Society is encouraging law firms to adopt innovative tech solutions and set out its vision for a more integrated legal tech ecosystem at this year’s Legal Geek conference.

Named the most active investor into UK private companies by leading research company Beauhurst, Seedrs has completed over 530 deals with over £270 million invested into campaigns on the platform. Its portfolio companies span a diverse range of sectors from Fintech and AI to F&B and e-commerce. As well as providing financial backing for ambitious entrepreneurs, investors on Seedrs can give support and mentorship to portfolio companies, frequently becoming valuable customers in their own right.

With the UK legal services market worth in excess of £26 billion a year, there is a significant opportunity for ambitious and innovative startups to boost the legal industry, providing a range of complementary services to help the incumbents improve their existing service. According to a report by Legal Geek, the UK’s largest legaltech community, 46% of legaltech startups are innovating to help law firms become more efficient and win new customers, and with a 160% increase in new legaltech businesses launching year on year, the space is growing at a rate in keeping with demand.

In fact, the success of fintech in the UK has in many ways paved the way for legaltech businesses to thrive. In the same way that fintech has flourished because the UK offers access to best-in-class tech talent, ample growth capital and progressive regulation, new legaltech businesses can take advantage of the same factors, supported by a world leading legal profession.

Karen Kerrigan, Chief Legal Officer at Seedrs: “As a Law Society member myself, I’m excited by the enormous value that this partnership can deliver to the legal sector. The Law Society has recognised the unrealised potential of greater digitisation and automation for the legal industry. While legaltech is still in its infancy, a host of startups are already changing the way legal services are delivered, making the sector an appealing prospect for frustrated legal professionals like me, looking to future-proof their industry.

“We are excited to invite innovative startups to pitch for capital from a new and savvy audience of legal professionals on the Seedrs platform, and in turn give those investors the chance to play a role in the future success of the thriving legaltech scene by using an efficient and trusted investment platform.”

Christina Blacklaws, vice president of the Law Society said: “Harnessing technology effectively can have a significant impact on how solicitors operate and engage with their clients. This partnership will help us bring solicitors and entrepreneurs together to support innovations which will benefit our members and their clients. We are excited about the opportunities this will create for our members as they develop and grow their businesses.”