Jelix Ventures has invested $1m in preference shares of Melbourne-based legal automation company, Josef.
Josef empowers lawyers to automate their services by building legal bots.
The point of difference with Josef is that it is designed so that people without programming knowledge, such as lawyers themselves, can build the bots.
According to Josef:
On Josef’s easy-to-use platform, lawyers create bots that automate lawyer-client conversations, draft legal documents and provide legal guidance and advice.
Lawyers save time by getting rid of repetitive work, letting them focus on the things that matter. For everyone else, Josef makes legal services more accessible and seamless.
Jelix Ventures explains why it invested in Josef:
- Huge global market: A $1.45B and growing global addressable market from day one. Cross-sector demand with multiple clients in key verticals (large and small commercial firms, personal injury and in-house legal teams).
- Convincing early evidence of strong product-market fit:
- Customer feedback and initial traction are excellent, indicating that this is an engaging, innovative solution to a real problem.
- Josef pilots are in place at top tier firms and in-house legal teams at marquee brands.
- Potential to service unmet needs: Josef is effectively commoditising legal services by enabling lawyers to scale services for clients with simple issues. There is huge potential to service SMEs and individuals with legal issues who do not currently use legal services.
Josef has operated in both Australia and the US since its launch in May 2018 and works across the legal industry, from global top-tier commercial firms to in-house legal teams at large corporates and national consumer law firms.