Lawmatics, a company whose platform provides client relationship management (CRM), client intake and marketing automation for attorneys, has closed a $10 million Series A financing round, it is announcing today.
The financing follows the San Diego-based company’s raise of a $2.5 million seed round in October 2020.
Matt Spiegel, cofounder and CEO, said Lawmatics aims to change the way lawyers drive business.
“Today’s consumer expects a seamless user experience with instant gratification, and the same applies for legal services. We give lawyers the technology they need to deliver immediate, personalized engagement from the moment a potential client reaches out through the end of their case and beyond.”
Spiegel, a former lawyer who was the original founder in 2009 of law practice management platform MyCase, and CTO Roey Chasman, who first worked with Spiegel as a software engineer at MyCase, cofounded Lawmatics in 2017.
(Chasman (left) and Spiegel are pictured above.)
Sarah Meyer Bottorff, who also worked with Spiegel and Chasman at MyCase, where she was director of marketing, joined Lawmatics last January as head of growth.
Lawmatics will use the funds from this financing round to further develop its platform and to scale its sales and marketing, Spiegel said.
Leading this funding round was Ankona Capital, a growth venture firm based in Newport Beach, Calif., that makes investments of $5 to $15 million in early growth stage B2B software companies.
Eniac, Revel, Bridge and Forefront were all also participants in Lawmatics’ seed round.
(For more on investor The Legal Tech Fund, listen to my LawNext interview with cofounder Zach Posner.)
Brian Mesic, managing director at Ankona Capital, said, “We have been incredibly impressed by Lawmatics’ deep knowledge in the space, vision for the future, and vibrant team culture. In partnering with Lawmatics, the Ankona team is focused on lending our expertise to help Lawmatics scale their platform capabilities and accelerate growth.”
Managing the Attorney-Client Relationship
Lawmatics markets its platform to law firms of all sizes, from solo practitioners to small-, mid- and large-sized firms. With this new funding, it says, it is well-positioned to continue building its platform in order to give firms the tools that will help them streamline the business end of their firm.
“Lawmatics modernizes the entire law firm workflow, from client acquisition and intake, to case management and client re-engagement in one comprehensive, automation-driven platform,” the company said in a statement. “This allows law firms to save time, improve the client experience, and directly increase their revenue.”
In an interview, Spiegel said that while there is much talk in the legal industry about CRM, he prefers to think of the Lawmatics platform as an ACRM — an attorney-client relationship manager. “We are trying to deliver value to law firms through enhancing the client experience.”
He believes there are two primary value propositions a legal technology product can deliver: Save lawyers time or get them more clients. Lawmatics delivers both, he said.
“We really try to do everything through the lens of the client — provide an incredible experience, delight the customer, and enable firms to deliver the best client experience they can.”
Focus on Intake and Automation
Asked about his plans for further developing the platform, he said that arguably everything a law firm does could fall under CRM, in that it all involves managing the client relationship. But the focus will remain on client intake and marketing automation.
He said that more development will go towards enabling firms to meet the client wherever they want to be met, whether via the web, phone, email, text, referral or other source. He also expects the company to work on strengthening its integrations with other products to enable them to make greater use of Lawmatics’ automation features.
Lawmatics currently integrates with a variety of vendors providing practice management, e-payments, call management, call tracking and advertising products.
“Our goal is to continue to enable the front end of law firms,” Spiegel said. “That’s been our focus.”