Major law firm leads $4.2 million investment in LegalVision to help test machine learning

Lachlan McKnight, CEO at LegalVision Australia. Photo: Supplied.

LegalVision has raised $4.2 million in series B funding led by top-tier law firm, Gilbert + Tobin.

It’s the second time Gilbert + Tobin have led an investment round for the business, having also been involved in the startup’s round in November 2015.

LegalVision is a startup but also a registered law firm, which allows users to access a network of highly qualified lawyers with fast turnaround times at a lower cost than many top-tier firms.

“We are thrilled to continue working with Gilbert + Tobin,” said Lachlan McKnight, CEO at LegalVision. “Their backing is a tremendous validation of our goal and progress to date.

“There is still much to accomplish – and this investment round provides the foundation for LegalVision to keep achieving in the coming months and years.”

The online law firm says the cash will go towards developing its tech offering by exploring how it could integrate machine learning and self-executing smart contracts into the business.

It will also use the money to increase its presence in under-served regional communities, as well as major international cities with significant Australian trade flows.

Over the past year, LegalVision has rolled out its innovative model to major Australian companies, assisting General Counsels and other senior management to reduce legal spend, and grown from 20 to 60 employees.

In just over three years, LegalVision has assisted more than 15,000 Australian businesses – including startups, SMEs and large listed companies.

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