Anyone can write a check. But only few can have an outsized impact on legal tech startup growth. Many such startups, for instance, have said the true worth of an investment from a law firm doesn’t come from the dollar amount they offer. Instead, a law firm investment is most beneficial for building a legal tech company’s credibility and accessing frank user feedback that no traditional venture capital can match.
“The value law firms bring to the table beyond the money is their real understanding about the problem that you’re building your company to address,” said Andrew Klein, founder of the “app store for legal tech” Reynen Court, which has secured funding from Clifford Chance, Latham & Watkins and Orrick Herrington & Sutcliffe in recent years, including a $4.5 million investment round announced in late October.
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