Five New #Legaltech Unicorns. One Unicorn Nearly Doubles in Value. Three Companies Go Public.
It might be unfair to say that legal technology arrived in 2021. After all, law firms and law departments, the primary target buyers of legal tech, have been preparing for the impact of AI and automation.
In 2018, Amlaw 100 firms like Reed Smith and later Wilson Sonsini began creating dedicated tech-focused subsidiaries. See Post 213 (Zach Abramowitz’s overview of law firm-led legal tech. In late 2019, the chairman of an AmLaw 50 firm told us, “We know there is new stuff, we know that our clients know about the new stuff. The question is how we become proactive so that our clients don’t bypass us on the way to the new stuff.”
Continue Reading How the first half of 2021 signals the maturity of an ecosystem (255)