From Uptime Legal’s CEO
What a year 2019 has been for legal technology.
In this year, more than any other, we’ve seen an unprecedented level of investment, growth and innovation, both here at Uptime Legal and among our peers in the legal technology industry.
New products. New investments. New partnerships. In 2019 we had the honor of observing and participating in some of the most exciting developments the legal tech landscape has perhaps ever seen. And we’re seeing more and more law firms truly embrace technology to solve their problems, streamline their practice and grow their business.
Investments & Acquisitions
We’ve seen a record-setting level of investments and acquisitions within the legal technology space.
In 2019, BigHand, a company that makes dictation software, acquired PayneGroup, a firm that provides software and professional services to the legal industry.
Alt Legal, a company that develops IP docketing software, acquired Marktend, a developer of trademark docketing software.
Litera, a corporate document management company, acquired Workshare, another document management software company.
And that’s just a few of the notable M&A transactions we’ve seen in the legal technology space this year. Also in 2019, we saw an incredible level of legal technology investments:
Practice management company Litify raised $50M in it’s first (Series A) round of funding. And the widely-reported Clio raised $250M in funding, marking the largest private equity investment in Canada’s history.
And finally, while not an acquisition or investment, LexisNexis and LEAP joined forces by launching a new joint venture to deliver world-class legal software to law firms.
2019 has been quite a year for legal technology investments, partnerships and consolidation.
Duty of Tech Competence
Another theme of 2019 has been more and more local and national governments requiring technical competence of their attorneys. Lawyers have always had ethical obligations to its clients. For more and more countries and US states, having a basic working knowledge and baseline capability with technology has become a requirement to serve your clients, and fulfill your obligations as a lawyer.
And we couldn’t agree more.
- Another State Adopts Duty of Tech Competence, Bringing Total to 38
- Duty of Tech Competence Comes to Canada
2019 was also a pivotal year for Uptime Legal. In 2019 Uptime was recognized among America’s fastest-growing private companies for the sixth consecutive year. No other company in legal technology has achieved a place on the Inc. 5000 list for this many years in a row, a true testament not only to Uptime’s growth capability, but to our long-term committment to lawyers and law firms.