Law & Company, South Korea’s legal service platform, succeeded in pooling 23 billion won ($19.3 million) in a Series C funding round last year, becoming Korea’s first legal tech startup to draw funding more than 40 billion won in total, according to the company on Thursday.
It attracted 14 billion won through Series B in 2019.
The latest funding round was participated by venture capital firms, including Atinum Investment and DSC Investment.
Law & Company plans to use the proceeds from Series C to develop IT solutions and new content to support law practices. It will also invest in R&D to improve its legal service application, “Law Talk.”
The company was selected as a next unicorn candidate in July 2021 by the Ministry of SMEs and Startups to receive government aids.
It has provided 640,000 legal advice cases since its opening. Last year, its average visits per month amounted to 970,000.
Law & Company also plans to launch an AI-backed legal information search service, which is expected to improve efficiency in legal research.
By Shin Yoo-kyung and Jenny Lee
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