Online law firm LegalVision has been named the Innovator of the Year at the 16th annual Australian Law Awards, hosted by Lawyers Weekly.
It comes just over a month after the startup announced it had raised $4.2 million in a Series B round led by commercial law firm Gilbert + Tobin, itself winner of the Law Firm of the Year Award, to help continue its growth in the Australian online legal market.
Founded in 2012, LegalVision has been looking to disrupt the legal services industry through an online, customer-experience driven business model, providing startups and SMBs with access to more than 3,000 legal articles and 40 free legal documents. In just over three years the startup reports that it has assisted more than 15,000 business around the country.
Evan Tait-Styles, CTO at LegalVision, said the award is a “tremendous validation” of the startup’s tech model.
“Gone are the days when ‘innovation’ in the legal profession was using the newest practice management software. We’re now using tech to explore how machine learning and self-executing smart contracts can help us deliver our services even more efficiently,” he said.
As the investment from Gilbert + Tobin shows, traditional law firms are picking up on the opportunities offered through tech, while larger corporate clients are also taking note; LegalVision CEO Lachlan McKnight said the startup has begun using its approach to develop bespoke solutions for larger clients’ legal process challenges.
Other legal startups finding success with traditional firms include LawPath, which also gives customers access to standardised legal documents. LawPath has partnered with global law firm Norton Rose Partners to offer small businesses and startups fixed-priced packages through an online platform.
Law Advisor, meanwhile, announced last month it had raised funding from Google Maps cofounder and former Facebook exec Lars Rasmussen.
National law firm Mills Oakley has also announced the launch of its own accelerator program in collaboration with Collective Campus, through which it will look to find entrepreneurs working on concepts for new technologies or processes that will improve the way the firm operates or delivers its services.
Mills Oakley chief executive John Nerurker said, “New technologies and better processes are revolutionising the way law firms work. The best firms are actively seeking out innovations to deliver even better results for clients.”
Image: Evan Tait-Styles, Ursula Hogben and Lachlan McKnight. Source: Supplied.