After record growth, Australian scaleup Lawpath announces that it has launched into the United States of America. US small businesses and startups can now access Lawpath’s award-winning all-in-one legal platform used by over 300,000 Australians.
American businesses can now draft, collaborate, eSign and manage legal documents using Lawpath’s Contract Management System. This launch also includes its Legal Workflow Software and automated recommendation engine, simplifying decision-making by offering data-driven recommendations to its customers. The company is yet to launch its business set-up software or on-demand lawyer and accounting plans, however, will roll out further functionality as the expansion progresses.
Founded in 2014 in Sydney, Australia, Lawpath has grown to be a leading legal platform for small businesses. The company sets up approximately 6 percent of all new companies in Australia and raised $7.5 million AUD in September 2021 to take its platform global.
Dominic Woolrych – CEO of Lawpath said:
“Having helped over 300,000 businesses save millions on legal fees in Australia, we’re excited to take our business to the US where we believe there is an even greater need for on-demand, affordable legal services”
Australia is projected to gain 3.5 million new small businesses by 2031, following similar new business growth in the USA which grew in 2021 by 20 percent (higher than any previous year on record). These businesses are looking for new and online ways to meet their legal needs. Before making the decision to take the platform global, Lawpath had over 800 subscribers already based in the US using its solutions.
“The pandemic caused 2 major shifts for businesses; 1. Many more people around the world are starting their own businesses or ‘side hustles’. 2. Businesses have had to rethink how they access professional services. Currently, only 8 percent of legal services are conducted online, compare this with 70 percent for accounting and 40 percent for medicine, yet legal is yet to match its peers. However, with the right tools most businesses choose to do their legal online as well in our experience”, adds Woolrych.
The legal industry has long been out of reach for many, especially small businesses, of which 80 percent report they don’t have the basic legal protection they need due to cost and access obstacles. Lawpath’s mission is to empower small businesses with the tools they need to complete their own legal tasks and access online, on-demand professional help when they need it.
Lawpath’s expansion into the US has been supported by its partners LexisNexis and Australian Trade and Investment Commission (Austrade)’s 2022 San Francisco Landing Pad Program. The Landing Pad, now in its 6th year, helps Australian startups expand their footprint in the US.