Advancements in IOT, artificial intelligence and deep learning have allowed legal tech companies to gain traction. Platforms for marketing/business development and e-signatures are gaining broader use by practitioners and clients. And investors are taking notice. There has never been more interest in legal tech than 2019 with investors pouring over a billion dollars into industry startups.
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Legal tech gains traction.
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In 2018, legal tech investments broke the $1 billion mark. But that figure was topped in 2019, with $1.23 billion in funding by the end of third quarter alone. Another sign of market maturation: In 2018, half of the billion-dollar figure was due to one $500 million investment into Legal Zoom. This year, a wider array of companies benefited.
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