LBox, a legal tech company that provides a search service for rulings, has attracted 18 billion won ($13 million) in Series B investment. SV Investment, KB Investment, Korea Development Bank, Daol Investment, Aju IB Investment, and Partners Investment participated in this round. The startup expects additional investments during January next year, increasing the size of Series B.
LBox is Korea’s largest legal data search service that allows users to search for everything from court rulings of all levels to news and references. CEO Jin Lee, who worked as a corporate lawyer at Kim & Chang Law Office for 5 years, started the business in May 2019 after completing an MBA course at UC Berkeley.
Since its establishment, it has shown rapid growth and attracted investment for four consecutive years, from 2019 to 2022. In April of last year, it was also selected for TIPS, a representative technology startup support program in Korea. The government provides up to 700 million won for two years to excellent startup teams.
LBox’s core competitiveness is that it has a total of more than 1.77 million judgments, which is an overwhelming majority compared to other competitors. A total of 11,000 lawyers, more than 1/3 of all domestic lawyers, are currently using it, and they were able to build a database optimized for practice by immediately reflecting their demands.
Oh Tak-geun, managing director of SV Investment, who led the series B round, said, “Lbox is a truly data-based, No. 1 legal tech startup in Korea. We have determined that it can grow into a platform that leads innovation in the legal market. We expect to be able to expand our business to Legal Finance.”
Lee Jin, CEO of LBox, said, “We will continue to make more efforts to achieve our vision of providing legal information in an optimal form to all who need it. We will more actively recruit excellent colleagues who will create innovative services.”
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