Lexoo

Lexoo
Private Company
Industry Legal technology
Founded June 2014
Founder Daniel van Binsbergen
Chris O'Sullivan
Headquarters London, United Kingdom
Products Lawyer online marketplace
Website www.lexoo.co.uk

Lexoo is a UK-based legal technology company launched in June 2014 with headquarters in London, United Kingdom. Lexoo provides a lawyer-matching online marketplace, enabling businesses to find a lawyer by providing multiple quotes from specialised solicitors.

History

Lexoo was founded in June 2014 by Daniel van Binsbergen, a former lawyer at De Brauw Blackstone Westbroek,[1][2] and Chris O'Sullivan, a developer,[3] having raised $400,000 in seed funding from Forward Partners and Jonathan McKay, the Chairman of JustGiving.[4] In November 2015, Lexoo raised a further $1.3 million in funding from a number of investors, including the London Co-Investment Fund, Duncan Jennings (founder of Vouchercodes.co.uk), Tim Jackson of Lean Investments, Robin Grant (founder of We Are Social) and Forward Partners.[5][6][7]

Business model

After a client posts an enquiry on Lexoo’s website, Lexoo selects a number of lawyers to provide fixed-price quotes for the client’s work.[8][9][10] Lexoo screens and interviews every lawyer before they join its platform. Lexoo claims to save businesses an average of 46% on their legal fees by prioritising lawyers with low overheads.[4]

Lexoo is free for clients, but lawyers on the platform pay a commission on any work they obtain through the platform.[11]

Media attention

TechCrunch identified that, compared to other markets, the fees charged by legal practitioners are traditionally non transparent, and considered Lexoo “a classic example of how markets can be made more efficient and transparent by moving them online”.[11]

Forbes described Lexoo as “the democratisation of legal services”, noting that “the participating solicitors know they are quoting in a competitive environment, so they will offer their best price up front, without businesses having to ask for it. All the ingredients of a classic disruptive start-up.”[3]

In June 2015, the Financial Times selected Lexoo as its "Innovation to Watch"[8] and Startups.co.uk listed Lexoo among the top 100 startups in the UK in 2015.[12]

Lexoo has also been featured by PE Hub,[13] Legal Futures,[14] Talk Business Magazine[15] and Tech City News.[6]

References

  1. ↑ "Exclusive: Resignation Letter of the Year". RollOnFriday.com. 17 October 2014. Retrieved 29 April 2015.
  2. ↑ Clementson, Laura (21 May 2015). "Taking the leap from corporate to startup: how one ambitious entrepreneur made the jump". Entreprenary. Retrieved 22 June 2015.
  3. 1 2 Ingham, Edmund (2 September 2014). "How Do You Disrupt The Legal Industry? Offer Value The Big Firms Can't Match". Forbes. Retrieved 29 April 2015.
  4. 1 2 Baker, Dylan (16 January 2015). "Lexoo raises $400K for lawyer comparison platform". Tech City News. Retrieved 29 April 2015.
  5. ↑ Riley, Duncan (3 November 2015). "Disruptive lawyer-matching startup Lexoo raises $1.3m". Silicon Angle. Retrieved 31 December 2015.
  6. 1 2 Styles, Kirsty (2 November 2015). "On-demand legal firm Lexoo raises $1.3m". Tech City News. Retrieved 31 December 2015.
  7. ↑ Dunsby, Megan (2 November 2015). "Lexoo raises $1.3m to connect UK small businesses with lawyers". Startups.co.uk. Retrieved 31 December 2015.
  8. 1 2 Newton, Richard (16 June 2015). "Lexoo: a digital marketplace for legal services". Financial Times. Retrieved 22 June 2015.
  9. ↑ Pearson, Lloyd (24 January 2015). "Latest Lawyer Matching Site Lexoo Looks To Scale". 393 Communications. Retrieved 22 June 2015.
  10. ↑ Meynard, Brendan (2 February 2015). "Lexoo offers pre-screened marketplace for those seeking an attorney". Webrazzi. Retrieved 22 June 2015.
  11. 1 2 O’Hear, Steve (16 January 2015). "Lexoo Scores $400K For Its Lawyer-Matching Service For Small Businesses". TechCrunch. Retrieved 29 April 2015.
  12. ↑ Williams, Henry (11 May 2015). "Lexoo: The Forward-backed website that compares pre-screened, specialist lawyers". Startups.co.uk. Retrieved 22 June 2015.
  13. ↑ Dorbian, Iris (16 January 2015). "UK legal startup Lexoo grabs $400K". PE Hub. Retrieved 22 June 2015.
  14. ↑ Hilborne, Nick (19 January 2015). "Lawyer-matching service targets major growth after cash injection". Legal Futures. Retrieved 22 June 2015.
  15. ↑ Lill, Dominic (6 November 2015). "Start-up Lexoo raises $1.3m to disrupt the legal sector". Talk Business Magazine. Retrieved 31 December 2015.
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