While 2015 was marked by major investments in legal tech organizations like Avvo and kCura (who raked in $71 million and $125 million in venture capital investments, respectively), 2016 lacked the same the same robust investing climate. That said, venture capitalists, accelerators, and other investors in legal tech demonstrated some continued interest in a few areas that are likely to carry into 2017. Legal tech entrepreneurs may want to look into these 5 areas for their next big project:
A2J Chatbots
Legal tech entrepreneurs often approach access to justice issues with a trickle-down philosophy – improving Big Law efficiency will save firms’ money, and those savings will eventually be passed down to low-income clients. In 2016, law students managed to cost-effectively create “chatbots,” programmed information tools that users interact with through standard chat interfaces, to create more bottom-up access to justice through technology in small matters like parking tickets and crime assessments.
