PocketLaw takes in seed

UK-based PocketLaw, a provider of legal tech solutions, has raised 1.2 million pounds in seed funding.

UK-based PocketLaw, a provider of legal tech solutions, has raised 1.2 million pounds in seed funding. The investors include Christoffer Norman, Ludvig Thureson and Adrian Brummer.

PRESS RELEASE

LONDON & STOCKHOLM: PocketLaw (www.pocketlaw.com), the legal tech solution that provides a one-stop-shop for businesses’ legal needs, has raised £1.2M in seed funding. The startup, headquartered in Sweden and with an office in London, has now raised £3M to-date.

Backing the company is a group of successful entrepreneurs and investors, including: Christoffer Norman (former Investment Manager at VC firm Northzone, and founding member at ecommerce unicorn Avito); Ludvig Thureson (founding member at Avito), and investor Adrian Brummer.

Existing investors Cristina Stenbeck (former Executive Chairman at Kinnevik), Susanna Campbell (Director at Kinnevik) and Johan Andersson (CEO of Mellby Gård) are all backing the company again.

The funding will allow PocketLaw to further scale in the UK, where it launched in June 2021 and is currently relied upon by 100s of companies, including telehealth pioneer Livi, e-scooter company Voi, and London’s Kingly Court restaurant Le Bab. In addition, PocketLaw will use the funding to expand internationally into even more markets, and bolster its senior team with new hires.

Since the beginning of 2021, PocketLaw has increased its revenue by nearly 500% and doubled its team to 23 in just one year. It has partnered with law firms including EBL Miller Rosenfalck and Fondia, digital accounting firm Bokio, co-working spaces such as Impact Hub and Epicenter.

“The demand for our digital legal solution demonstrates just how problematic legal issues are for companies, taking up time, energy and money,” comments Kira Unger, PocketLaw CEO who co-founded the company with childhood friend Olga Beck-Friis. “We are the antidote to this, providing our customers with a tech-first solution that allows them to focus on the most important thing: growing their businesses.”

Olga Beck-Friis, COO and co-founder, adds: “2021 has been a momentous year for us as a company – first we successfully launched within the UK after achieving market dominance in Sweden, we’re continually onboarding new customers, and now we have closed our latest round of seed financing that will enable us to further scale both within the UK, and around the world. The UK will continue to be a huge priority for us moving forward as we aim to become the go-to legal solution for businesses of all sizes.”

PocketLaw equips businesses- from fast-growing startups to multinational corporates- with an intuitive digital tool that can become their own in-house lawyer and solve legal challenges instantly, and at an affordable fixed price. Saving time and reducing risk, PocketLaw is the only solution that helps companies both create and handle all contracts and legal matters in one place – covering everything from employment to corporate law and commercial agreements – while providing both a smart contract management system and direct access to lawyers on-demand.

“PocketLaw’s growth over the past year has been extremely strong, and the team is constantly hitting new milestones,” comments former Northzone investment manager Christoffer Norman. “Kira and Olga are inspiring leaders who identified a real pain point that almost all businesses face – expensive, distracting, and time-consuming legal issues, and their traction in the UK shows exactly how crucial their solution is.”

”I’ve been so impressed with PocketLaw’s growth since I backed them in their previous seed round,” comments Director at Kinnevik, Susanna Campbell. ”I was convinced that their offering would transform legal services and that they would have no shortage of customers turning to them. Global expansion is always a challenge, but the team seems to have cracked the UK market in a short space of time. That, in combination with the impressive team and best-in-class product, gives them a great starting point to continue scaling internationally.”

About PocketLaw
PocketLaw was founded in 2018 by Kira Unger (CEO) and Olga Beck-Friis (COO). The company is headquartered in Stockholm, has recently opened a London office, and employs a team of 23 people across nine different nationalities, with its C-suite made up of former senior employees from tech unicorns Spotify, Google, Zalando and Klarna, and top law firms Hogan Lovells, Mannheimer Swartling and Vinge.

The company has raised £3M in investment to date, and is backed by some of Sweden’s most prominent investors, such as Cristina Stenbeck (former Executive Chairman at Kinnevik), Susanna Campbell (Board Director at Kinnevik), Christoffer Norman and Ludvig Thureson (Avito founding members), Johan Andersson (CEO of Mellby Gård), and Adrian Brummer (Partner Consafe Capital Advisors).