Legaltech Pocketlaw Nets $10M For Its Solution That Aid Businesses Handle Legal Work

May 09, 2022 | 3 minutes read

UK-based female-led startup PocketLaw nets funding of $10M for its SaaS solution which lets businesses handle their legal work with efficiency.

In a Series A funding led by robust Atomico a legaltech startup PocketLaw gathered funding of $10M. The round also witnessed the participation of some prominent founders and operators including Personio co-founder of Hanno Renner and COO Jonas Rieke, Pleo co-founder Jeppe Rindom, Gloria Baeuerlein, and Allison Pickens dbt Labs board member and former Gainsight COO.

The existing investors of the startup founded in 2018 are Susanna Campbell and  Kinnevik’s Cristina Stenbeck. Their participation in the round also led to total funding of the amount of €14 million for the startup.

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Olga Beck-Friis and Kira Unger founders of PocketLaw. Image Credits: PocketLaw.

This Saas solution will use this fresh injection of funds to expand its operation all across Europe and continue to scale its team of legal, technical, and operational experts.

However, the startup right now is focusing on empowering every team within an organization to sculpt contracts and fulfill their legal needs. It is actually a one-stop shop that focuses to help  SMEs the most. By bringing together all the processes ranging from legal discovery to contract execution and storage.

Thus helping the non-legal as well as the legal specialists to create contracts immediately. The services provided by PocketLaw are customizable and tailored as per the requirements and needs.  Also, PocketLaw enables the companies to fulfill their legal requirements in a cost-effective manner in contrast to traditional legal services.

Although founded by Olga Beck-Friis and Kira Unger in 2018. The startup is quite user-friendly as it guides the users through each step. Such as discovering and navigating legal needs like suggesting actions to take on contracts. In addition to this, PocketLaw utilizing the power of Saas has made its services more accessible, especially to SMEs.

Other than this startup many others around the globe are using Saas in different fields to make their services more attainable. Such as Lendis, and  Freterium, etc . Plus this also helps them in the construction of more user-friendly tools for users.

CEO and co-founder Kira Unger also believes that providing easy solutions can save companies time and money.

-“Using technology to build scalable, user-friendly tools is the only way companies will be able to maintain speed whilst keeping up with an increasingly complex regulatory landscape. We estimate that our customers save up to fourteen working weeks and up to $200,000 in legal fees a year by using our intuitive, tech-enabled solutions.”-

Legaltech startup is already trusted by 6,000 customers such as Estrid, Punchy Drinks, Babybjorn, Kry/Livi, Voi, and Schibsted.