Swedish legaltech giant Legora says the use of its platform among UK law firms and in-house teams has more than tripled this year.
The company said that in-house legal teams are now its fastest-growing client group, accelerating at more than three times the rate of law firms, and now account for just over half of the firm’s UK customer base.
Legal teams operating in financial services, including in the banking and insurance industries, have become the largest group of adopters of its platform, closely followed by teams in professional services, Legora said.
Alex Fortescue-Webb, head of UK and Ireland at Legora, said: “For an in-house team in any sector working out which vendor to trust, the fact that banks and insurers have put Legora through risk, compliance and information security and adopted it is a strong signal.
“A year ago the majority of our UK clients were law firms. Today around half are in-house teams, many of them in financial and professional services, and firms are growing with us at the same time.”
For example, in March, UK bank Barclays made Legora available to its legal professionals globally, while also working together to develop new AI functionality to support large in-house legal teams.
And in September last year, Legora entered into a strategic partnership with Deloitte Legal to provide hands-on support for clients to develop their legal AI strategies using Deloitte’s consulting expertise and its experience adopting Legora.
Legora has also expanded its in-house offerings with the introduction of its AI legal tool Intake, which takes legal requests from employees, deciphers what needs doing for each task, and then organises the work and uses AI to prepare an initial answer or document for a lawyer to review.
In August, Legora announced a strategic partnership with US firm Intapp, connecting its platform with Intapp’s AI compliance capabilities.
This followed an integration agreement with content management intelligence provider Box to allow shared clients to browse and select relevant documents stored in Box without having to leave Legora’s platform.
In July, the firm completed its fifth acquisition of the year with the purchase of UK AI litigation intelligence start-up Wexler.
Legora also agreed to acquire commercial real estate AI platform Cadastral in June, seeking to expand its coverage in legally intensive industries such as real estate.
A month earlier, it purchased Swedish legal research start-up Qura, enabling the company to build out its AI platform by incorporating Qura’s specialised search engine.
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