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Prof. R Susskind OBE

The number of legaltech start-ups is now “burgeoning”, Professor Susskind has claimed, with obvious delight. Speaking at the British Legal Technology Forum (#BLTF2018) earlier this week, he said: “A few years ago, there were around 200 legaltech companies. Now there are more than 2,000.” This market expansion was being driven by the increased availability of private equity finance for this type of technology, coupled with the growing awareness of legaltech by in-house lawyers, Professor Susskind explained. The combined effect of these two dynamics was that law firms could no longer pay “lip service” to their own use of legaltech, he added.

The growing interest in legaltech was also evident by the fact that the BLTF2018, organised by Netlaw Media, sold out four weeks before the event took place. Among the 1,300 attendees, more than 30 countries were represented, drawn from more than 700 law firms, chambers and in-house legal departments. Representatives from 94...

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