Incubators put UK legaltech investment into overdrive
The Startup Report 2019 by Thomson Reuters and Legal Geek reveals that investment in UK legal technology start-ups reached £61m last year, more than double the £22m in the previous year. Meanwhile, this year has seen legaltech start-ups receive at least £62m so far. Jim Leason, vice president, customer markets at Thomson Reuters, remarked: “The UK benefits from a unique mix of a large tech and data science talent pool and world-leading law firms as well as easy access to capital through financial markets. This has enabled the fast-growing legaltech sector to thrive.” He went on to note that legaltech funding is now coming from many different sources, including from law firms, as well as private equity and venture capital funds. Meanwhile, Legal Business notes that Deloitte has recruited chief executive and founder of in-house consultancy BamLegal, Catherine Bamford, to lead its legal engineering team.