Lexoo, the British startup that connects SMEs and entrepreneurs with handpicked attorneys and noted that the startup had raised $400,000 in seed funding from Forward Partners and JustGiving chairman Jonathan McKay. Now, Lexoo co-founder Daniel van Binsbergen tells us that the startup has raised another $1.3 million, a round led by Forward and including participation from McKay, VoucherCodes founder Duncan Jennings, Tim Jackson from Lean Investments, We Are Social founder Robin Grant, and the London Co-Investment Fund. Lexoo says that they intend to put this funding towards cranking up sales and marketing efforts, as well as strengthening its operations and technology.
As part of this latest announcement, we also learn that Lexoo’s userbase has been growing at a 25% month-over-month rate, that they claim more than 3,500 businesses as users, and that they are processing more than $1.5 million in legal work annually.
As a reminder, Lexoo offers businesses a platform through which they can receive multiple quotes from a curated group of lawyers. Lexoo says that they seek out the lawyers for their service, looking for those who have at least 4 years of experience, who are specialized (typically through experience at a large law firm), and who have a clean record. The quotes that companies receive are free, as the startup has chosen to generate revenue by taking a 10% marketing fee on any work that lawyers receive through the platform.