Google Ventures once again supports AI innovation by leading a $40m investment in Lawhive.
- Lawhive plans to use the funding to expand its services into the US market.
- This marks the second time Google Ventures has invested in the startup, following a previous seed investment.
- Lawhive seeks to revolutionise the legal industry by automating administrative tasks with AI technology.
- The investment highlights a growing trend of AI adoption within the legal sector.
Google Ventures has reaffirmed its commitment to advancing AI technology by leading a substantial $40 million investment round for London-based AI legal startup Lawhive. This move follows their previous involvement in Lawhive’s seed funding round earlier this year, demonstrating sustained support for the startup’s innovative approach to legal services.
The newly acquired funds are slated to aid Lawhive’s expansion into the United States, a market described by Lawhive CEO and co-founder Pierre Proner as ripe with potential. “By augmenting the work of human lawyers with our technology, we’re addressing a critical need in the US market and unlocking new opportunities for millions of US attorneys,” Proner stated.
TQ Ventures co-led the round with Google Ventures, along with contributions from Balderton Capital, Jigsaw, Episode 1, and notable Premier League footballers Harry Maguire and Reece James. This diverse group of investors reflects a broad interest in the potential of AI to transform legal practices.
Lawhive, founded in 2021, has developed an AI large language model designed to streamline time-consuming legal administrative tasks. The company likens its function to “Shopify for law,” aiming to simplify legal processes for businesses.
CEO Pierre Proner strongly believes in providing accessible legal services, stressing, “Access to the law should be a basic right, available to everyone. Unfortunately, this isn’t the case.” His vision is to synergise AI technology and top-tier legal professionals to make high-quality legal support more affordable and accessible.
The legal industry is increasingly looking towards generative AI technologies, as evidenced by funding successes of similar startups like Robin AI and Luminance. This trend underscores a significant shift towards technology-driven legal solutions.
Lawhive’s recent funding round underscores the significant impact AI can have on the legal sector by enhancing efficiency and accessibility.
