The funds will help advance the legaltech startup’s R&D efforts in the AI space
LawVu has successfully secured $15m in a funding round led by technology investor venture capital firm Movac.
The capital raised will support LawVu’s expansion plans, as well as advance the company’s research and development efforts in the AI space. According to RNZ, Movac will also be given a seat on LawVu’s board.
The legaltech startup aims to leverage its AI capabilities to enhance various operational aspects for in-house legal professionals. LawVu will also be applying the funds to meet rising international demand, especially in Australia, the US, and the UK.
“We’ve been relentless in extending our international foothold despite the economic headwinds. Having Movac come on board with their support signals immense confidence in our mission as we accelerate our global expansion,” said Sam Kidd, LawVu's CEO and co-founder.
Following this latest funding round, the legaltech startup’s total capital is currently at around $55m. Other LawVu investors include Icehouse, AirTree Ventures (Australia), Insight Partners (US).
“LawVu has continued to go from strength to strength, with incredible potential for growth and disruption in the legal sector and its traditional way of working. Our depth of experience investing in iconic Kiwi startups such as Vertical SaaS stars Vend, Timely and Unleashed meant we knew LawVu was a natural fit within our growth fund portfolio,” said Jason Graham, general partner at Movac.
LawVu recently welcomed in-house veteran David Lancelot as its chief legal officer and has made investments in Wellington offices in line with its growth strategy in New Zealand.
