Revolutionizing the old-school legal industry: How law firms are using new tech to cut costs and the startups set to benefit


    Revolutionizing the old-school legal industry: How law firms are using new tech to cut costs and the startups set to benefit

    • The legal industry is seeking to streamline efficiency and meet client demands by using startups or building up their own tech.

    • Business Insider is tracking the latest innovations across the legal industry.

    The coronavirus pandemic has accelerated virtually every industry’s path to digitize and the notoriously old-school world of law is no exception.

    Legal firms are demanding more innovation in a bid to improve efficiency and as clients seek lower costs. VCs are seeing promise in the space, opening their wallets to fund legal tech startups. Last year, Bloomberg Law reported that legal tech investments hit at least $1.2 billion by the end of the third quarter, surpassing the previous year’s record of $1 billion.

    Business Insider has been tracking the latest from startups looking to disrupt the complex and paper-dependent industry and how legacy companies are adopting new digital tools. See the latest below.Advertisement

    Legal tech startup news

    Litigation funding startup Legalist is seeing a boom in demand to back lawsuits — and is hoping to attract hundreds of millions of dollars from investors to keep up with the need

    These are the 10 hottest legal tech startups that have raised a combined $1.4 billion in VC funding from investors like Bessemer Venture Partners and Andreessen Horowitz

    Meet 9 legal tech startups that top VCs say are poised to take off as law firms look to cut costs and boost productivity


    Trustate, a new startup launched by an ex-DLA Piper attorney, is looking to disrupt a key part of an ‘inefficient’ $194 billion industry by easing the pain points of estate administration

    Legal industry warms up to tech

    Meet the AI-powered recruiting company used by investment banks like Lazard and Piper Sandler that’s looking to transform how legal firms hire out of law school
    A virtual law firm is hiring freelance lawyers to create a Netflix-style subscription legal service that could disrupt the US legal industryAdvertisement

    Top law firms are starting to share exclusive data with clients to help them win legal disputes and clinch M&A deals. Here’s why they’re giving it away for free.

    The notoriously old-school legal industry is finally warming up to tech. Here are the winners and losers as law firms turn to startups to cut costs.

    How top law firm Mintz is using AI to help reduce costs for clients and alleviate work for associatesAdvertisement


    (the headline, this story has not been published by Important India News staff and is published from a syndicated feed.)


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