Technology makes the legal profession go round for associates, but the second quarter of 2019 saw a dip in investments to just $122 million. For reference, in the first quarter, the legal tech sector saw disclosed funding of $400 million.
On a normal day, this would be especially concerning, but when you recall that half of Q1’s $400 million figure was reserved for just one transaction (Onit’s $200 million investment from K1 Investment
Management), it’s a little less worrisome. Nevertheless, legal tech was still quite a lively sector in the second quarter, with major mergers and acquisitions making more headlines than PE or venture funding.
But will Q2’s drop affect predictions that legal tech would beat $1 billion in funding in 2019? Click here to see a fascinating report from Bloomberg Law on all of the important legal tech funding and M&A news that you may have missed.