Lawpath, an online legal services business, has raised $1.3 million in funding from investors including Macdoch Ventures and Adcock Group.
The company, which markets customisable legal forms and connections to lawyers, claims to have grown revenue by 800% and users by 400% year on year.
Damien Andreason, the co-founder and CEO of Lawpath, is a serial entrepreneur. A previous business was Spreets, one of the first group discount companies.
He cites this experience, and the pain and cost of having to engage lawyers early, for inspiring Lawpath.
“Having started several businesses in the past, one of the challenges we found, especially starting out with limited funding at the beginning is: How do you protect the future value of the business? And spend tens and tens of thousands on something you haven’t even validated yet,” says Andreason.
Lawpath is pitched towards startups then, with a document offering including term sheets, co-founder agreements and occupier consent forms to give owners consent to use a residence as a place of business.
Online legal services are nothing new. There are numerous overseas examples, including Legalzoom and Rocket Lawyer. Rocket Lawyer even counts Google as an investor.
But Lawpath has pursued a freemium model for their legal services, to which Andreason attributes for a lot of their growth.
The company plans to use the money raised to invest in their platform.