With its subscription-based legal services platform, Lawpath wants to become the Asia Pacific’s LegalZoom (in fact, LegalZoom is one of its investors). Based in Sydney, Australia, Lawpath serves small businesses with services like legal documents, customized legal workflows, e-signatures, business registration and on-demand lawyers. The company announced today it has raised $7.5 million AUD (about $5.5 million USD) to expand into new markets, including upcoming launches in New Zealand and Southeast Asia.
Founded in 2013, Lawpath currently has about 230,000 users, and says it is used to help form 5% of new companies in Australia.
Participants in this round, which brings Lawpath’s total raised to $14 million AUD, include the Gonski family; Adore Beauty chair Justin Ryan; Sandbar Investments; Ooh! Media and Readytech chair Tony Faure; LegalZoom director Khai Ha; and Bryant Stibel founding partner Gonzalo Troncoso. Existing investors Adcock Private Equity and LegalZoom also returned for this raise.
In addition to international expansion, the funding will also be used to double Lawpath’s current team of 40 people, especially for its product and software departments.
There are millions of legal transactions that happen every day that small businesses don’t seek legal advice on simply because they can’t afford to and it’s leaving them unprotectedDominic Woolrych, co-founder and chief executive officer of Lawpath
In terms of localization as it expands geographically, Lawpath’s SaaS platform acts as the underlying infrastructure for legal documents, APIs and lawyers, so it can move into new markets quickly, Woolrych said.