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Clients Are Spending More on Legal Tech: Can Smaller Firms Keep Up?

Attorney at Work

the percentage of in-house legal budgets spent on technology is expected to increase threefold by 2025 from 2020 levels as legal departments “increase spending on technology to reduce the dependency on outside counsel, address COVID-19, and satisfy a long-overdue need to modernize, digitize and automate legal work.”.

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The 10 Legal Tech Trends that Defined 2021

LawSites

As awful as was the year 2020 for so many reasons, my year-end report last year found reasons to be optimistic. The silver lining of 2020,” I wrote, “is that we have been forced to consider changes that were long overdue and then given the opportunity to implement those changes.”. It is as if we are serving time in a legal tech limbo.

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MyCase Quietly Makes Two Key Acquisitions Of Legal Tech Companies

LawSites

Around the same time, MyCase acquired Woodpecker , which provides legal document automation software for solo and small law firms. Gabriela Cubeiro , who cofounded the company, has been its CEO since January 2020. Woodpecker, based in Boston and founded in 2017, provides AI-enabled legal document automation software.

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Two Legal Tech Products, Evisort and Onit, Among 65 Products Honored for AI Excellence

LawSites

“Evisort strives every day to create AI solutions that help our customers seamlessly operationalize legal and business teams, so it’s especially rewarding to earn this recognition as an AI leader in the contract intelligence space.”. Read more about Onit on the LawNext Legal Tech Directory.

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LawNext: With $40M Series B, LinkSquares CEO Sets Sights On The Impossible In Contracts Tech

LawSites

With his contract-management company having just raised $40 million in Series B funding, Linksquares cofounder and CEO Vishal Sunak is aiming for some big goals, including “to build legal tech solutions that simply weren’t possible before.”. He was previously a guest on the show in the episode posted on June 2, 2020.

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On LawNext: Zach Posner on The Legaltech Fund, the First VC Firm Dedicated to Legal Tech

LawSites

Zach Posner cofounded The Legaltech Fund in 2020 as the first venture capital firm laser-focused on law and legal technology. He also shares his advice for entrepreneurs pitching a VC firm and offers his views on the broader investment and innovation landscape in legal tech. . A reminder that we are on Patreon.

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Paradigm, Parent to Three Practice Management Platforms, Acquired By Francisco Partners

LawSites

It began by acquiring Bill4Time in 2017, followed by PracticePanther in 2018, MerusCase in 2019, and Headnote in 2020. LawSites also broke the news in July that MyCase had acquired case management platform CASEpeer and document automation company Woodpecker. No Stranger to Legal Tech.