LawtechUK Launches Lawtech Ecosystem Tracker Featuring 350+ Companies
LawtechUK debuts tracker spotlighting 350+ active lawtech companies in UK
LawtechUK, an initiative supported by the Ministry of Justice (MoJ), has introduced the LawtechUK Ecosystem Tracker (LET) unveiling a comprehensive list of over 350 lawtech companies operating actively within the United Kingdom.
The LET serves as a vital tool aimed at fostering connections and advancement within the UK lawtech landscape. It presents a detailed insight into startups and scaleups in the lawtech sector, fostering awareness, knowledge, and identifying growth prospects. Notably, the tracker highlights areas like "access to justice" and "unmet social needs" where lawtech solutions for the public lag behind business-centric innovations.
Particularly beneficial for smaller law firms lacking in-house tech capabilities, the LET aims to guide exploration of suitable tech platforms for enhancing growth and productivity.
This comprehensive database encompasses various facets of lawtech companies such as business-to-business (B2B) or business-to-consumer (B2C) categorization, technology specifics (stack and purpose), founding year, investment raised, company size, and region. It facilitates easy searchability and allows lawtech entities to request updates or modifications.
Highlighting its focus on the UK, over 70% of the listed lawtech companies originate from the country. The tracker serves as a means to pinpoint market gaps and address potential sectoral concerns while tracking the evolving trends within the lawtech sector year on year.
Jimmy Vestbirk, from LawtechUK, anticipates the LET to primarily aid businesses seeking legal tech solutions by providing a detailed understanding of available options, thereby supporting lawtech adoption. The forthcoming LawtechUK major report in February 2024 will utilize this data, benefiting investors and newcomers navigating the lawtech landscape.
The LET consolidates information from various sources including Crunchbase, Beauhurst, Mari Sako from Saïd Business School, University of Oxford, and LegalGeek: Startup Map.
Ahead of the launch of LawtechUK's initial data report in February 2024, the legal community can access the LawtechUK Ecosystem Tracker, gaining an early advantage and contributing to community-verified data.