We may be in a legal tech bubble — and that’s great for lawyers and consumers

AI companies are booming and legal technology is on a roll as investors look for sectors where generative AI, the latest breakthrough, will have a big impact. That’s great news for lawyers and legal consumers.

Investor interest in legal tech “seems to be only growing,” Crunchbase reports. Legal tech startups raised $871 million in 2023 and have already exceeded that amount in 2024. Valuations of 30x–100x revenue are additional indicators of growing enthusiasm. Indeed, it seems to be in a bubble.