UK AI-powered New Law firm Lawhive has secured $60m in fresh venture capital funding to help finance a US expansion drive.
The Series B funding round was led by Danaher Corp co-founder Mitch Rales alongside TQ Ventures, GV, Balderton Capital and Jigsaw. The latest round adds to the $40m it raised in Series A funding back in December 2024, which counted Premier League footballers Harry Maguire and Reece James as investors alongside TQ Ventures, GV, Balderton Jigsaw and software fund Episode 1.
The consultancy-based firm plans to use the funds to target the US consumer legal market, which it believes generates around $200bn in annual revenue, with significant prospects to unlock an even larger market. The firm provides fixed-fee legal services to consumers and small businesses in areas including family, divorce, property and employment law, with AI automation tools enabling its consultant lawyers to handle more cases at a lower cost.
Pierre Proner, Lawhive’s chief executive, said that there is “a trillion dollars of unmet need” in the US consumer legal market, where the firm can serve prospective clients who have serious legal issues but are unable to afford an attorney.
Currently Lawhive is operating in 35 states across the US having launched in the country last year as an ABS (alternative business structure) firm.
The firm stated that its annualised revenue has now surpassed £25.6m after impressive sevenfold growth over the past year.
The firm was founded in 2020 and is regulated by the Solicitors Regulation Authority. It has created an AI-based operating system which enables its consultant lawyers to automates tasks such as document drafting, legal research, case management and client intake.
Lawhive originally attempted to sell automation software to retail law firms, Proner said, but there was a lack of demand as smaller law firms were unwilling to purchase the product.
Eventually the firm diversified to become a legal firm itself, with AI as the fulcrum of its operational model.
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