“The in-house legal teams have an important role to play in any company,” said Kidd.
“However, often you will find that the only ‘technology’ is email and Word, and legal departments become a bottleneck as the rest of the company uses technology to speed things up. It’s incredibly exciting to be at the forefront of a new category and expand our leadership position in this area. “
Insight Partners’ investment follows other major investments recently made in Australia in Octopus Deploy, Employment Hero and SafetyCulture.
“LawVu’s global growth speaks volumes for its future as a company and its ability to deliver quality results to legal teams,” said Rachel Geller, Managing Director of Insight Partners.
“We are very pleased about our partnership with LawVu, which continues to expand worldwide.”
AirTree Ventures partner James Cameron said LawVu found itself “with the right product in the right market at the right time.”
LawVu has signed a number of contracts with well-known clients including Telstra, AMP, Linktree, Expedia, PwC and most recently the San Francisco-based technology company Instacart. It now has users in more than 30 countries.
Legal technology is tough to crack, and Mr. Kidd attributed this in part to the fact that some product ideas are better than others and also the different incentives lawyers have to try new ways of working.
“It’s a difficult room, certainly more difficult than we probably thought when we walked into it. But the most important differentiator we have from many other legal technologies is selling to law firms, ”he said.
“The drivers in law firms are very different, it’s a partnership model or a pyramid scheme, depending on how you look at it.
“It’s a tough sell, you’re selling to partners who think I might be gone in three or four years. So why should they invest in a law firm? If you are selling to business consultants, it is more of a business decision. “
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