Korean Legaltech company Law&Company announced on the 15th that it has raised USD 36.3 million (KRW 50 billion) in Series C2 investment, moving a step closer to its goal of becoming ‘Korea’s first LegalTech unicorn.’ The final investment, including new and old shares, totals USD 36.3 million (KRW 50 billion), which is the highest amount of investment raised in a single round within the same industry in Korea.

New investors in this round include IMM Investment, Daesung Private Equity, Shinhan Venture Investment, and KDB. Additionally, existing investors such as Smilegate Investment, Premier Partners, Coolidge Corner Investment, and JW & Partners continued their follow-up investments, showing strong confidence and expectations for the company’s growth.

Prior to this, Atinum Investment, DSC Investment, and SBVA participated in the investment by acquiring shares worth over USD 7.2 million (KRW 10 billion) held by venture capitalists who invested early. Notably, SBVA joined as an investor for the first time in this round.

This investment was successfully oversubscribed and concluded, receiving high praise for quickly dominating the domestic legal AI market with differentiated AI technology, even amidst a contraction in investment sentiment towards startups.

IMM Investment, which led this round, stated, “The legaltech market is a difficult area to pioneer, meaning a leading company can secure a significant economic moat. Law&Company has already established itself as the representative legaltech company in Korea.” They added, “We decided to participate in this investment, judging that its competitiveness will continue in the AI sector, which will change the market landscape in the future, by showing a successful case like Super Lawyer.”

Law&Company successfully launched its commercial legal AI service, ‘Super Lawyer,’ in July of last year, establishing it in the market. Super Lawyer’s biggest competitive edge is its excellent answer performance, achieved through high-quality legal data and advanced data utilization technology. Based on this, Super Lawyer recently recorded 123 correct answers in the multiple-choice questions of the 14th Korean Bar Examination, placing it in the top 5% of successful candidates and significantly exceeding the passing score of 96 questions.

The steady growth of operating services, including the comprehensive legal portal ‘LawTalk‘ and the AI-based integrated legal information service ‘Big Case,’ also played a crucial role. LawTalk, which recorded its highest number of consultations last year with 300,000 legal consultations, has now surpassed 1.6 million cumulative legal consultations and 550,000 cumulative legal contents, solidifying its position as the number one comprehensive legal portal in Korea. Big Case, which provides legal data from Park Young Sa, the number one legal book publisher in Korea, recently secured 5 million case data, the largest amount among Korean companies.

Driven by the consistent growth of its services, the increase in the number of lawyer members across all services is also steep. Currently, the total number of lawyers registered with LawTalk, Big Case, and Super Lawyer is approximately 25,000 (including overlaps), which is about 69% of the total registered lawyers in Korea. This is the highest number of lawyer members among services operated by legaltech companies, and including users of LawTop, whose acquisition was recently announced, it reaches approximately 85% of all registered lawyers in Korea.

Based on the rapid growth of Super Lawyer and stable revenue from LawTalk and Big Case, Law&Company aims to achieve an annual profit this year. The performance in the first half of last year was also positive. Law&Company significantly improved the profitability of each individual service, achieving a first-quarter profit followed by a half-year profit for the first time since its establishment.

With a solid growth foundation secured through this Series C2 investment, Law&Company plans to firmly establish its leading position in the domestic market by building a next-generation integrated legal platform. It also intends to further expand investments for overseas market expansion, including advancing legal AI technology and collecting overseas legal data, to actively target the global market.

Bon-hwan Kim, CEO of Law&Company, stated, “As the global legaltech industry is rapidly reorganizing around AI technology, Law&Company’s differentiated legal AI competitiveness and visible achievements in overcoming regulatory crises were highly recognized, allowing us to successfully conclude this Series C2 round.” He added, “As Korea’s leading legaltech company, we will drive the revitalization of the domestic industry through AI-based innovation and successfully target the global market to prove the potential of K-LegalTech.”