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The barometer of French LegalTechs

2021-02-12

This year again, Maddyness has released its barometer of French LegalTech startups. Like last year, Legal Finder wanted to share this information with you.

The least we can say is that after a very special year 2020, the barometer that has just been published is difficult to analyse. First of all, while more than a third of LegalTechs consider that they have been negatively impacted by the crisis, about half state that it has had a positive impact on their business.

However, almost 60% of them acknowledge an impact on client relationships, which are longer and more difficult to achieve. On the other hand, solutions that offer assistance with the digitalisation of the profession (management of files, contracts, etc.) are on the rise, with twice as many offers in this area as in 2019.

At the same time, LegalTechs that only concern the French market have decreased proportionally. In other words, more and more of them are opening up to the international market. That is a reason to be optimistic for the future.

The last point of the barometer: fundraising. They have fallen very little in number, but they have been greatly reduced in terms of amounts, falling to less than €18 million in 2020 compared to more than €50 million in 2019.

(Maddyness suffered a fire at the OVH datacenter, and their website was not available for the last few days. We have therefore put the link to another website that summarises the published barometer, until the Maddyness website is operational again.)

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