By: Lior Michelzon
CEO

3lawgy

3lawgy developed a disruptive solution through building an online legal marketplace. 3lawgy allows plaintiffs to understand the merit of their case, provides a deal flow to lawyers whilst presenting and opportunity for investors and litigation funding experts to invest in one of the fastest growing asset.

$5,000

Raised so far

1

Investors

27

Days to go
Minimum investment: $5,000
Type: Equity  
Stage: Pre-seed
Category: Finance
  • Campaign Highlights
  • Pitch
  • Team
  • Investors 1
  • Updates
  • The Deal
  • Documents
  • Disclosures

Campaign Highlights

The sharing econmy revolution is now arriving to the legal tech industry

3lawgy brings the sharing economy to the legal service world and promises to generate a fundamental shift in approach, similar to the revolution made by airbnb, UBER and Fiverr in their respective fields. 3lawgy realises that collaboration and advanced technology are the future to enable growth in the legal service's world, thus with a new and disruptive platform allowing the three main stakeholders - plaintiffs, lawyers and investors – to act together in collaboration and create a winning opportunity for all parties of the legal triangle.

Responding to the need of a market of hundreds of billions of dollars

We identified a hidden and untapped market within the world of legal services. Low and middle-class potential plaintiffs cannot access or afford to move forward with legal claims for financial reasons despite positive opportunities for success. According to data from the American Bar Association, the scope of this activity amounts to $120 billion per year in the US.  In comparison the worldwide legal services market is valued at $ 645 billion

Litigation funding is one of the fastest growing asset classes in the US and UK

Litigation funding has over the last 5 years become one of the fastest growing asset classes with 414% growth in the US and in the UK 54% of lawyers expect to use litigation finance in the next two years.

Making lawyers more efficient by 33%

According to the Law Society and the American Bar Association 33% of lawyers time is wasted on unsuccessful business development. 3lawgy will provide lawyers endless qualified deal flow.

Experienced and prestigious board members

Advisory Board consisting of hugely experienced and prestigious members of the legal world. Hon Judge Martin E. Rinholtz (Commercial Supreme Court Judge), Nimrod Vromen (Israel’s leading technology lawyer), Paul Lack (CEO of MET Facilities financial regulators UK)

Pitch

The Idea

3Lawgy is a new disruptive Israeli startup that is building the first legal platform that finally solves the age-old problem of David v’s Goliath.

Streamlining a complex legal process by enabling plaintiffs to understand the merit of their case. Qualifying litigation opportunities and providing deal flow for lawyers whilst providing high yielding investment opportunities for litigation funding individuals and companies.

Litigation funding today is one of the highest and fastest growing asset classes and our unique solution enables not only positive ROI's but also a marketplace where plaintiffs, lawyers and litigation funders can come together to create a winning solution for all parties.

Due to complex legal systems today 85% of cases are not able to secure appropriate access to justice. 3Lawgy is a unique legal solution creating the eco-system where all parties across the legal triangle are able to create a winning solution.

The legal world today is made of a triangulate of parties. Those who have a case, those who want to provide legal services for that case and those who could underwrite the litigation funding aspects to secure a high yielding financial return.

3-Lawgy is the first sharing economy platform for legal services enabling the main three stakeholders plaintiffs, lawyers and investors to co-exist and come together to create a winning situation for each side.

The Need

The legal services sector is not effective for the general public and small businesses. The general public generally lack the experience and information they need to find their way around the legal services arena and to engage confidently with lawyers and understand their opportunities of success. For Lawyers the issue they commonly face is deal flow and obtaining cases with merit that they can bill for. Lastly investors today are constantly looking for new markets to diversify their investments and receive high yielding ROI. Litigation funding provides that opportunity.

  • Plaintiffs - Greater access to legal services with a reduction of bureaucracy 3-Lawgy changes the legal landscape. Our solution provides clarity, transparency, simple navigation and most importantly unlocks liquidity for funding cases. We also act as a comparison database whilst using big data to help provide greater insight and qualification of individual cases and ensuring those cases that have merit know that there is a way forward.
  • Lawyers - The platform will provide qualified leads help engineer improved market awareness plus offer a rating system for successful lawyers. 3-Lawgy will aid the growth of law firms by providing qualified deal flow.  A further benefit will be a source of litigation funding for lawyers who believe they have a winnable case but no plaintiff funds to take it to court. Lastly this will move law firms from the traditional law services model to practicing law in the shared economy.
  • Investors - Litigation funding is one of the fastest growing asset classes and 3-Lawgy provides a platform where investors can access cases with high return on investment yield. Providing transparency of investment opportunity plus the ability to get involved in class actions alongside individual cases we provide a real investment diversification in a market that is qualified and based on professional opinion.

The Platform

A simple to use digital platform where users can easily gain access and understand the merit of their case. Once all the information is uploaded lawyers via the system will be alerted to cases that sit within their sector of experience and jurisdiction. Lawyers and our AI technology will then qualify the merit of the case and allow a market bid approach to allow plaintiiffs to decide which lawyer they wish to work with. Once a plaintiff and lawyer are matched they will be able to seek investment from a litigation funder. 

 

The Technology

Not only offering an eco-system one of the advantages of the platform is the collection of wisdom from legal experts which will pass through and be captured in our platform. Today no such repository exists where so much legal data will be held in one place. The solution also uses machine learning which will allow the system to self-develop and improve. The platform will learn to identify risks and using algorithms enable smarter legal decisions to be made.

Platform features will include:

  • Case Upload and Management System - An intuitive information gathering system from the plaintiff ensuring all questions, answers and documentation uploaded are stored in one place providing transparency and organisation. All information will be stored in a private and secure repository. This information will allow lawyers to qualify case merit.
  • Matching Plaintiff and Lawyer - A unique bidding system that enables plaintiffs to scope their legal issue and for lawyers to bid to take on the case. Using our AI and rule based solution we will only target relevant lawyers for relevant cases within a key set of parameters. The plaintiff will also via our unique reputational system be able to identify the right lawyer to select based on experience and record of success. 
  • Funding Campaign Creation - Once a Plaintiff and lawyer are matched the lawyer will be able to build a campaign online that can attract particular investors from the investor network community held within the platform. The system will autonomously help create the campaign templates and aggregate the information so it can be displayed in the investor zone. Our proprietry AI technology will highlight to key investors the relevant cases that they may want to invest in based on preferred choices. 
  • Improved Communication and Collaboration - Using state of the art collaboration tooling we ensure that all correspondence, communication and documentation are stored in a digital case file system that is accessible to all parties involved in a particular case. All calls will be recorded via our online P2P video call system with a copy transcript saved to the relevant case file.
  • Investor Zone - A key component of the platform will be where investors can review, qualify and assess opportunities to which they wish to fund. There is also the ability contained in the solution for investors to seek second opinion on the opportunity from a legal expertise catalogue. The investor zone will use AI to ensure we only send cases that we believe will be of interest to a particular investor. Once an investment is made the litigation funder can always access the platform and check traction of a case and see current status.
  • Plaintiff, Lawyer, Investor Communication - 3Lawgy is an online system which enables constant connectivity between plaintiff, lawyer and investor. The solution enables an instant messaging system, smart bots, audio and video conferencing. All communications and correspondence within the system are stored in our information repository. With advanced communication, collaboration and legal navigation.

The Technology Team

 

The Business Model (Revenue)

The simplicity of the shared economy allows for various forms of monetization. For 3Lawgy we will charge a monthly subscription per month for lawyers who want to be a member of the marketplace and have access and be able to receive business development opportunities and access to a market full of qualified cases that have merit.

As the platform matures we will allow lawyers to advertise their services whilst bidding for premium cases. As the platform enables the matching of lawyer to plaintiff with a case that has merit and a qualified view of success should the litigation funding arm be required 3Lawgy will charge a fundraising campaign fee  to put the case and its merit to the litigation funding community. 

Lastly when cases are successful the 3Lawgy platform will receive a financial closing fee of 5% from the successful party.

The Market

Legal technology is booming. With companies attempting to disrupt the legal space at every level and from every angle and all with good reason. Many legal experts estimate the market size as nearly $645 Billion. Legal has been a tough nut to crack but change is nigh, consumers are demanding more efficient, transparent and affordable legal services and lawyers are looking for cutting edge ways to compete in an over saturated market.

The big area in the legal space on the precipice of major disruption is the digital marketplace. Like the other vertical marketplaces that are gaining traction across industries as a result of consumer demand, legal marketplaces will experience rapid growth and become the go to way we find lawyers (like home help, doctors and dates before). Fast forward and the law firm of the future is a marketplace; thousands of lawyers connected through shared platforms.

From Fiverr and TaskRabbit to Tinder, we find all manner of goods and services online and the legal world will shortly be no different. Consumer demand is driving big changes in the way we find and use lawyers. In the past, businesses and individuals found lawyers through personal connections, paper searches or positional referrals – the truth is these all proved to be inefficient. Your network might not know the right type of lawyer for you, your proof of quality is limited to one point of reference and there is little transparency about price and value.

3Lawgy changes the paradigm in legal services. At a time of accelerated growth in legal technology the marketplace like in other service areas will be the first port of call. 

Below is a detailed summary of finacial investment figures detailing how active the legal tech sector is (as of May 2018):

Investment in Legal tech has become more common with the advance of AI and blockchain technology. To that end we see a growth in seed and early stage investment and this trend is due to continue with investment houses looking to break into this sector with larger financial investments. We also see clear evidence of those early investors now seeing the benefits of the judgement by seeing more M&A activity and exits of those early start-up legal tech pioneers.

Israel has taken one of the lead positions in the adoption of Legal Tech hence the success of the start-up eco-system in this area. Israeli start-ups in legal tech are the third most funded geography. Across the whole of Europe the average financial investment per legal tech start up is a mere $1m. Israel in comparison as a standalone country hits $3m per legal tech solution. A remarkable achievement and further proof that investing in Israeli technology is a more assured choice.

 

Competion and Landscape


3Lawgy main differentiation comes from the triangulate approach which includes Artificial Intelligence Crowd Legal Expertise and Crowdfunding. Most of our competitors are trying to solve niche and narrow problems within the legal services market whilst 3Lawgy is solving a far wider issue - access to justice.

Legal Services marketplace players:

  • UpCounsel, Rocket Lawyer & Legal Zoom – All are helping the industry move out from bespoke services into a standadised model. From business formation, requirments for legal documentation and subscription-based access to legal advice. 
  • Avvo – Offers a legal service marketplace for connecting consumers, businesses, attorneys, lawyer's directory, Q&A forum and legal marketing.
  • LawKick- Is a pure-play lawyer listing platform that offers legal consultation services based on fix cost or an auction bidding system.

Litigation funding marketplaces players:

  • LexShares - Online marketplace enabling individuals to invest in litigation. The platform connects plaintiffs in commercial legal disputes with investors to fund their cases.  
  • Yield Street – Is an alternative investment crowdfunding platform. Offers a wide range of asset-backed debt investments with relatively short hold times (usually 12-26 months) from litigation financing to commercial real estate to more exotic investments. 
  • Legalist - Is an AI litigation finance algorithm that .accumulates data to allow actionable insights.Their focus is on 6% available data that coming from public courts decisions.
Exit Strategy

 The Traditional cautious legal sector was a relatively late adoptor of technology. This is changing. Legaltech is part of the emerging alternative legal services sector. A rising force in the industry over the past decade. The global legal market is estimated to be worth $645 billion and growing. 

There are 16 mega-companies that include: Thomson Reutersm Lexis Nexis, Bloomberg, Wolters Kluwer, CPA and IBM. These mega-companies are annually investing and buying legal tech companies. Other potential routes to exit are new players in the legal service market, Key are the big four (PWC, EY, Deloitte and KPMG). Within 10 years and with their established customer base the big 4 could easily become the largest players in the legal industry. Those big four to grow there revenues are starting to see legal as one of the largest growth opportunities that can aid their expanison.

In addition litigation funders who are growing in the retail funding market - Benthan IMF, Burford Capital and companies like Harbour Avocats could easily take a stake in legal tech start-ups.

Use of Proceeds

Initially most of the investment money will be on the platform and solution build. Currently 3Lawgy is at MVP stage and we envisgae a six month build process. In parrallel to the technology build we will run a marketing campaign where we will start to onboard users and members of the legal world.

The onboarding process will be split into three projects - Onboarding Law firms, Partnerships with investors and litigation funding companies and finally a marketing campaign that will bring plaintiffs with cases to validate and qualify if they have cases with merit.

 

Team

Lior Michelzon
CEO
Biography
Lior brings with him 22 years of experience in leading international high tech companies and Start-Up’s in managing and developing business and strategic sales. During his career he specialized in many business domains and technological solutions. Having led dozens of innovative initiatives and ideas in the fields of knowledge management, AI, IoT, Cloud, eCommerce, social media, e-payments he demonstrated creativity and out-of-the box thinking. Lior was the Co-Partner of a boutique consulting company for business transformation and private placements investments for Start-ups during the initial period and growth of the Israeli start-up ecosystem. Lior is a great believer in the shared economy and its ability to drive change into the economy. ”The successes of the shared economy revolution will over time deepen and change the legal landscape, its practices and culture”

  • Founder
  • Director
Mark Rose
COO
Biography
Mark is a business transformation and growth specialist with expertise in both the corporate and start-up space. He is currently CEO and co-founder of The Ballistra Group which is a boutique service for start-ups looking to scale globally. Having spent 22 years leading business critical assignments across diverse business sectors across the corporate world he is bringing his know how, ability to grow new ventures and technical experience to the 3Lawgy team. Mark has extensive experience with large enterprise organizations globally (some of the largest brands in the world) and have led major projects executed over large geographies. Mark is is innovative and with a robust understanding of both business and technology.

  • Key Employee
Gabi Marchidan
CTO
Biography
CTO of Feel It Services and passionate about AI, programming and the web. As CTO, he is in charge of defining the technical strategy and solution architecture. He is one of the ambassadors of the local AI group (IasiAI) and our purpose is to democratize the design, development, and use of artificial intelligence. We teach, train and use AI to solve real-life problems

  • Key Employee
Nimrod Vromen
Partner at Yigal Arnon Law firm
Biography
Nimrod Vromen‘s practice focuses on the representation of technology companies, investors (private and VC), and acquirers, with extensive experience in private financings involving both established and emerging companies, corporate partnerships, strategic investments, joint ventures and M&As. In a decade of intense tech practice, Nimrod has represented hundreds of clients, and has assisted several companies evolve from an idea to mature companies and/or to acquisitions. Nimrod became a partner in 2016. Nimrod received his LLB, at Tel Aviv University in 2008 where he also studied business management. In 2014 Nimrod received an Executive MBA from Recanati Business School, at Tel Aviv University. Nimrod was admitted to the Israel Bar in 2009. Recognition

Feel-IT-Services
Software development powerhouse
Biography
Feel- IT-Services brings more than 10 years of experience in conducting agile product developments based on the most advanced technologies in areas such as Front-End, Back-End, Dev-Ops, mobile, and AI. Feel-IT- Services Headquarters based in France and the R&D team based in Iasi Romania, The company owned by Ido Paldi an Israeli Entrepanure with a great experience as a founder of start-up and as a COO in the big enterprise company Publicis Technology, Feel-IT-Services has great talents with unique values of Transparency, Quality Flexibility and creating a Multi Culture environment .

  • Key Employee
  • Advisor
Hon, retired judge Martin .E Rithholtz
Biography
Martin E. Ritholtz retired as Justice of the New York State Supreme Court, effective December 31, 2016, and has joined the firm’s Litigation Group as Special Counsel. He is responsible for handling complex commercial litigation matters on behalf of the firm and is dedicated to the continued expansion of the firm’s commercial litigation practice, both domestically and abroad. Prior to joining Shiboleth, Judge Ritholtz’s five-decade career has included more than 20 years as a judge, initially with the Civil Court of the City of New York, then with the Supreme Court of Queens County where he has served as a Justice since 2000. During his tenure, Judge Ritholtz has also served as a Commercial Division Justice. In addition to his other judicial duties, Judge Ritholtz supervised the centralized discovery part, dealing with contentious and complex ESI and other discovery issues. Throughout his judicial career, he earned a reputation of resolving cases expeditiously and presided over thousands of jury and non-jury trials. Early in his career, Judge Ritholtz clerked in Israel while earning his law degree – first in the Justice Ministry, Jerusalem for Meir Gabay, then Deputy Attorney General and Commissioner of Patents and Trademarks; and following, at the firm of S. Horowitz & Co. in Tel Aviv under Dr. Amnon Goldenberg, who served as president of the Israeli Bar. In April of 1999, Judge Ritholtz was a recipient of the William Goodstein Memorial Award, presented by the Association of Law Secretaries of the City of New York for Distinguished Service to the Judiciary. Judge Ritholtz has served as a lecturer for many colleges and organizations, including, inter alia, the Touro College Law Center, the Queens County Bar Association, the New York State Bar Association, The New York State Trial Lawyers Institute, St. Johns University School of Law, and Rutgers University.

Alin PAVEL- Front-End Team Leader
Front-End team leader
Biography
Part of the FEEL IT team that will build the 3lawgy product, he is the Front-End team leader, joint Feel-IT Services 6 years ago, he is in charge of managing a team of 15 people on different projects and technologies that are using JavaScript frameworks or libraries. He is also in charge of the architecture, code reviews, and trainings, keep them up to date with latest best practices and technologies and also help them when they are stuck.

  • Key Employee
Florin ANDRIESEI
Back-end Team Leader
Biography
Strong, analytical and persuasive personality. He knows how to set his goals and he always follows to achieve them. He likes to develop and implement his knowledge and he doesn‘t make compromises when it‘s about quality. He is able to quickly grasp new technologies and find the best solutions to create innovative web products. His advantages: Responsibility and reliability

  • Key Employee
Victor TARHON-ONU
DevOps Engineer
Biography
With 18 years experience in the Network and System Administration and a specialist in the Cloud system, Victor TARHON-ONU is a very good team player, pragmatic, ingenious, resourceful solution finder, analytic, seeking for improvements, fast learner, hard worker, having almost the same performances under stress condition as in normal conditions

  • Key Employee
Michelle MAFTEI
Account Success Manager
Biography
With 10 years of experience in the business development Business outcomes, strong skills in communication and analysis, and for 7 years in Feel IT, I am in charge also with the Account management within the company. Persuasive, a good listener and ambitious, always seeking for the best ways to accomplish objectives and to find a solution for every issue. .

Manuela Tamas
QA Team and Customer facing support
Biography
Part of Feel IT team for the 3Lawgy project, 4 years now on QA department and during this period I developed skills on evaluating, testing, and validating software and/or IT services, developed and implemented quality assurance problem, reporting processes and systems. Also, I‘m in charge of managing a small team on a Digital Signage project, being the liaison between client and dev. team in order to meet client expectation. In addition, I am offering customer support to our clients and writing functional specifications and acceptance criteria based on client’s requirements. Project areas: Digital Signage, Travel, Hotel industry, Enterprise software

Investors 1

Anonymous Investor
0
Followers
1
Investments

Updates

    Currently there are no updates in this pitch

The Deal

Documents

Disclosures

Follow us