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Legal Karma Raises a $2 Million Seed Round
Legal Karma offers estate-planning solutions to credit unions and banks.
Legal Karma is an Austin-based technology platform used by financial institutions to generate new revenue streams, increase retention and attract new customers by offering simple estate planning solutions like trusts, wills and powers of attorney. Although LegalTech funding has been down this year, Legal Karma’s CEO Kory Kelly, announced that they recently secured a $2 million seed round with participation from The Venture City and Everywhere Ventures.
They initially set out to provide innovative tools for lawyers, however, navigating the legal tech landscape posed significant challenges, notably the restrictive American Bar Association's Rule 5.4, which hampers external investments in law firms and complicates the adoption of cutting-edge technologies. Kelly suggests that true progress in legal tech may only be realized when it becomes more regulated by state bar associations.
Read more in Crunchbase News.
Check out Kory Kelly’s feature in Founders Everywhere.