Caravel Law Acquires My Legal Briefcase
Legal software development startup My Legal Briefcase, based in Toronto, Canada, was recently acquired by Caravel Law Professional Corporation, a legal services firm.
Details about the deal were not made public. What is known, however, is that My Legal Briefcase creator Monica Goyal was appointed as Caravel Law’s Director of Legal Innovation, a newly-created position.
Goyal issued a statement on the matter, saying that Caravel’s fresh approach was something she admired, and that there’s a lot of room for rapid growth in the legal industry, something firms like Donich Law are aware of. To that end, Goyal says that she looks forward to helping Caravel improve their technological operations.
Caravel CEO Stuart Wood stated that the law firm’s goal is combine their drive for client satisfaction with the latest in client-focused technology, saying that technology should improve the services that they offer, and they plan on ensuring that with the help of Goyal’s expertise in the field. They say that Caravel is excited to have someone like Goyal on board.
My Legal Briefcase was founded back in 2010, with the goal of using its software to provide assistance to smaller clients in need of legal services.
It works by providing clients a platform to reach the necessary legal bodies. Clients are presented an online questionnaire which they fill out for their claim. The information clients put in are then used to create the forms needed for the Ontario Small Claims Court. Another service My Legal Briefcase offers is the ability to consult a lawyer or law firm like Donich Law and get help on how to pursue a claim.
The international legal technology market raked in about $1.2bn in 2019, and is expected to grow by a considerable amount thanks to the COVID-19 pandemic boosting the demand for virtual law offices and digital courtrooms. The increasing demand in the field is said to be reflected by the investment boom that it’s had over the latter half of 2010 going into 2020.
As for Canada, the country’s legal technology scene gave birth to several notable legal tech startups and scale-ups, like Vancouver’s Clio, which managed to raise $330mn in its last Series D funding round. Notably, My Legal Briefcase has worked with Clio in the past, and provides built-in integration.