LawtechUK, the Ministry of Justice (MoJ) backed initiative, has opened access to the first LawtechUK Ecosystem Tracker (LET) featuring over 350 lawtech companies which are active in the UK.
The LawtechUK Ecosystem Tracker has been designed to facilitate connections and growth of lawtech in the UK by providing information on the sector’s startups and scaleups to build knowledge and awareness while also highlighting the opportunities for growth in the sector.
Current growth areas include “access to justice” or “unmet social needs” where the lawtech offering for the general public is much less advanced than business solutions. In addition, the LET has been built to encourage smaller law firms who do not have their own inhouse capability to explore what tech platforms could be useful to them in terms of growth and productivity.
Data includes categorisation of the lawtech businesses (b2b or b2c); their technology (stack and purpose); year founded; investment raised; company size and region – all of which is fully searchable with lawtech companies able to request updates or amendments. With over 70% of the listed lawtech companies founded in the UK, the Tracker will help identify gaps in the market and highlight any potential sector issues to address. Commenting on the website release, Jimmy Vestbirk, LawtechUK said:
“We initially expect the LawtechUK Ecosystem Tracker to be used by businesses looking to purchase legaltech, helping them understand the options available which will in turn support the adoption of lawtech. In February 2024 we will be showcasing the data in our first LawtechUK major report which will be useful for investors as well as new entrants to the lawtech scene wanting to scope out the landscape. This preview website access gives the lawtech community an early advantage and opportunity to build community verified data.”
The legal community can view the LawtechUK Ecosystem Tracker, here ahead of LawtechUK’s first data report due to be launched end of February 2024.