What Makes a Legal Tech Company Exciting to a Venture Capitalist?

Extract from article/interview by Ari Kaplan with Steven Sinofsky

Ari Kaplan: Why is law-related software so attractive right now?

Steven Sinofsky: What’s super-interesting about the legal field is that it is very technology-centric in what it needs, and the problems are very complicated. In fact, the whole business of software is being reinvented right now by cloud computing. Years ago, if you were to start a law firm, you worked with a local provider to install a server in your firm. It was not just for the billing and infrastructure, but also for the process of litigation. Today, there are many alternatives that require no server, which means they’re much cheaper, easier to use, available right away, and are relatively maintenance-free. This reinvention of the technology infrastructure for running a law firm is very interesting and reminds me a lot of the early days of word processing.