Two lawtech start-ups companies targeting litigation have trumpeted success, with one doubling the investment it has secured and the other signing up 1,500 experts to its system.
Disputed.io has raised £500,000, taking its total investment to over £1m, as it targets two major growth areas in the world of litigation – multi-party claims and third-party funding.
With Tim Berry of TheClaimsGuys one of its existing investors, the latest injection includes funding from TrueSight Ventures, which backs pre-seed and seed-stage start-ups “solving important problems with technology”.
Disputed.io has two platforms. CaseFunnel – which onboards clients and automates many aspects of repeat and volume claims – numbers Mishcon De Reya, Brown Rudnick, Keller Lenkner UK and Charles Lyndon among its clients. It projects that the system will managed over a million claims by the end of 2021.
FinLegal is a platform Disputed.io is about to launch. It allows a lawyer and client to draft an application for litigation funding or after-the-event insurance and then submit it simultaneously to multiple providers.
Disputed.io’s chief executive, Steven Shinn, said: “We’re delighted that Investors have recognised the advantages that CaseFunnel has over basic onboarding and ID products and want to benefit from our growth.
“As well as the investment being used to scale our team to support more firms, it will help us to launch our unique legal funding solution, which is set to accelerate the adoption of litigation funding.”
Meanwhile, Brighton-based start-up Xperta, an expert witness ‘marketplace’ which launched in early 2020, now has over 1,500 vetted experts on its books. It said most of the growth has come over the last three months as lawyers increasingly adapt to secure cloud technology whilst working remotely.
Founder Dr Andrew Derry, an expert witness psychologist, said that, “with too much time spent on non-billable admin and communication on both sides, there was an obvious gap in the market for a new, better way of working”.
He continued: “We’ve invested hugely in technology and support to ensure that we ease the often-fragmented relationship between experts and legal professionals.”
Xperta uses an expert rating system, based on case feedback from lawyers, as well as the expert’s enquiry rate, “to give solicitors a clear idea of which expert is good at their job”.
There are no membership fees for either experts or lawyers; Xperta takes a “small” percentage of the invoice value as payment.