London-based Legl raises $7M to revolutionise the way law firms work
12 March 2021: Legl today announces a $7M Series A round led by Octopus Ventures, with participation from existing investors Backed, Samaipata and First Round Capital, and high profile angels including Carlos Gonzalez-Cadenas (ex CPO and COO GoCardless), Al Giles (ex CRO of legal business Axiom) and Hayden Brown (CEO of Upwork), to revolutionise the way law firms do business.
Legl is a b2b SaaS platform enabling law firms to run their operations digitally – from streamlined onboarding, compliance and payment tools to giving management critical business insights and their clients a service worthy of 2021.
Although only just over a year since launch, they are already working with over 100 law firms – including over a dozen of the top 200. Like other vertically integrated SaaS and payments solutions, Legl creates streamlined business operations in a unique industry with a mission to improve the way that legal services are delivered.
Claire Dunn, a partner at Woodfines LLP, noted:
“Legl is saving at least 1 hour per transaction, and it’s reducing the overall time to complete a conveyancing transaction by 1-2 weeks.”
Legl was founded by Julia Salasky, who previously founded CrowdJustice, an award-winning platform for crowdfunding legal matters that has funded some of the UK’s highest profile cases, prior to that was a lawyer at Linklaters and the United Nations. She is a winner of the FT’s Legal Innovator of the Year.
Julia Salasky, CEO and founder of Legl, said:
“Most legal technology focuses on the practice of law. We’re focused on the operations of law – how do law firms, as unique, regulated businesses, run their business better and deliver a better client experience. We saw that there was a huge opportunity to improve client experience, onboarding, KYC and payment in a streamlined, beautiful way that also delivers a lot of business insight to the firm. There’s a huge opportunity here to reduce the friction that happens for law firm clients and create a better business of law.”
Zoe Chambers, early stage investor at Octopus Ventures, said:
“It’s rare to find a founder and team with such insider knowledge to tackle a big industry that has started to adopt technology quickly. Covid has accelerated the move to digital in the legal industry, and Julia and team, with deep expertise across legal, SaaS and fintech, are in prime position to win the market.”
The funds will go to expanding the team and enriching Legl’s product and customer base in the UK legal market, and to start their international expansion.
Legl – Julia Salasky / 07478249479 / [email protected]
Octopus Ventures – Sam Ferris / 020 3142 4933 / [email protected]
Legl’s mission is to create a better framework for law firms to do business, and to give clients a better experience. Founded in October 2019 by former lawyer and legal tech entrepreneur Julia Salasky, Legl is addressing the £35 billion UK legal services market.
About Octopus Ventures
Octopus Ventures, part of the Octopus Group, is built to specialise in the four areas we believe will change the world for the better: health, money, deep tech and consumer. We have backed the founding teams of more than 100 companies including Zoopla, Secret Escapes, graze.com, tails.com, Swiftkey, Elvie, Depop, Sofar Sounds, Big Health, Bought By Many, ByMiles, OLIO and Cazoo. Some of our portfolio companies have gone on to join forces with the world’s largest businesses including Google, Amazon, Microsoft and Twitter. With £1.3 billion under management and investing over £100m a year, Octopus Ventures is one of the largest and most active venture investors in Europe. Our typical investment is from £1 million for Seed to £10 million for Series B and we can continue to fund the companies we back right through to IPO. We are based in London and New York with a network that spans from San Francisco to China. The companies we back become a part of this network, with access to a formidable resource of experience and expertise.
Our current investment focus:
- Future of Health: Transforming the health industry, from digital therapeutics through to biotechnology.
- Future of Money: Revolutionising society’s ability to exchange and allocate financial resources and risk.
- Deep Tech: The tools and technologies that will power the next industrial revolution. These include quantum computing, robotics and drones, sensory human augmentation and 3D printing.
- Consumer: Reinventing the everyday, in how we live, work, travel, play, rest and recuperate.