Legal Nodes, a subscription-based, lawyer-on-demand platform has raised $300,000 in a new funding round. For a fixed monthly fee, the company provides companies with their own (virtual) in-house counsel.
Legal Nodes began life as a lawyer matchmaking platform but found that clients were uncertain about what type of legal support they needed due to a climate of information asymmetry; thus making matches a challenge. Reconfiguring their approach, the team at Legal Nodes introduced a subscription service, thereby ensuring access to any range of legal services, et violà, 10 subscriptions sold within a week.
Legal Nodes, “is not an attorney or a law firm and does not provide legal advice. Any attorney-client relations are between clients and legal providers only,” but serves as a platform that provides benefits for both sides of the equation.
For lawyers, Legal Nodes provides a platform where they can offer services online and remotely and have a dashboard to track and manage workflows. Customers have access to an in-house counsel (of sorts, and on-demand), and the ability to track task progress. Ultimately, Legal Nodes aims to replace expensive in-house legal teams.
The company now counts 60+ companies on board, and with the new funding is looking to expand its network of legal partners to include specialists in commercial, corporate, and data protection law.
The investment round was led by Estonian/Ukrainian angel syndicate Lift99 and includes participation from investors from Pipedrive and Printify including Ragnar Sass, Artis Kehris, Martin Henk, and Maarika Truu. Additional angel investors include TaxScouts founder Mart Abramov, former COO & Head of Growth at Fuzu, Edward Vaisberg, and Hype Ventures led by Mathias Eklöf. Inspirium Laboratories founded by partners from Sigma Software and founder of a YC Startup Datrics, Anton Vaisburd have also joined the round.
Pipedrive CTO and Co-CEO Sergei Anikin commented, “There are few industries which are not easily accessible for the general population. One of them is legal services. I am glad to see that the Legal Nodes team decided to challenge the status quo of the industry and are now building well-defined and fairly priced legal services for everyone who might need it.”