
What is the Inside Dynamics of UK's Legal Tech Industry?
The legal tech sector in the UK is enjoying a phase of rapid growth, highlighted by a spurt in investments and funding.
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CIO Applications Europe | Thursday, December 26, 2019

The legal tech sector in the UK is enjoying a phase of rapid growth, highlighted by a spurt in investments and funding.
FREMONT, CA: The legal services industry in the UK is in the middle of digital disruptions. Marked by the emergence of legal technology companies, the country is making strides in the right direction. Considered to be among the top global destination for legal services, the sector is actively responding to advances in technology. By adopting innovative technology, legal firms in the country are creating the next generation of services for their global clients. Be it enhancing efficiency and productivity of operations, or improving engagement with clients, technology is set to change the fundamental aspects of the legal sector in the UK.
According to the report ‘Legal Excellence, Internally Renowned: UK Legal Services 2019,’ published recently by TheCityUK, UK is now a legal tech hub with its law tech firms collectively valued at €14.06 billion. Besides, there has also been a 300 per cent increase in investments in legal tech firms in the UK according to the same report. In another ranking that The Financial Times publ
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ished regarding innovative law firms in Europe, 6 of the top 10 firms were based in the UK. These instances support the fact that the UK has successfully created an excellent ecosystem for legal technology firms.
Legal tech startups in the UK today are involved in providing a variety of services. While some of these services are meant for customers, many others are meant for legal professionals and institutions looking to digitalise. The dramatic rise in funding has been a game-changer for innovative legal tech firms that are open to experimentations with technology at their aid. The trend of investment in legal tech attained momentum from the year 2018. By the time reports for 2019 come up, it is expected that investments might already have crossed the 2018 values.
The UK government has been proactive in extending support to legal tech firms in the country as well. Together, a multitude of factors has resulted in uplifting the legal tech sector in the UK.
See Also :- Top Legal Technology Solution Companies
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