Legal tech startups are transforming the legal industry. Through the use of AI and blockchain technologies, these startups are streamlining and automating various aspects of legal practice.
The growing investment in Legal tech is expected to boost the market and growing volumes of legal data are driving market share. Europe and North America are the shining lights for Legal tech, with different players including law firms and startups implementing latest technologies. One of the biggest investment rounds in 2024 went to San Francisco-based Transcend, a startup in the data privacy space, that raised $40 million in a Series B round.
Independently of the growing investment in the Legal tech market, the sector is confronted with trust-issues, which can be overcome by strategic branding and a professional website.