advocado
Advocado designs the legal services market of the future - fair, transparent, simple and secure.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
€4.5m | Series A | ||
| Total Funding | 000k | ||
| USD | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | - | 21 % | 23 % | 5 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | - | - | (78 %) | (78 %) | - | - | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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advocado.de operates as a digital marketplace within the German legal technology sector, connecting individuals and businesses with legal counsel. The company was established in 2014 by co-founders Maximilian Block and Jacob Sass, originating as a spin-off from the University of Greifswald. This academic affiliation underscores the firm's foundational approach to disrupting the traditional legal services market through a technology-centric model.
The business functions as a one-stop platform, streamlining the process of finding and retaining legal services. Clients can submit their legal issue through the platform and receive a complimentary initial assessment from a partner lawyer. This assessment outlines the legal situation, potential courses of action, and associated costs. advocado's core service is matching clients with a suitable legal professional from its network of over 550 partner lawyers across Germany. The platform facilitates the entire case, from initial contact to final resolution, through its proprietary software, enabling fully digital case management. For legal services rendered, the company offers fixed-price packages, providing transparency and cost predictability for its clients.
The company's journey includes significant milestones, such as securing venture capital funding in 2017 and 2018 to fuel its growth. However, in June 2022, advocado filed for insolvency proceedings. By September 2022, the firm was acquired by Legal Tech Lab 22 GmbH, a subsidiary of the Berlin-based Gansel Group. This strategic acquisition ensured the preservation of the advocado brand, its operational locations in Greifswald and Berlin, and the retention of its workforce, allowing the platform to continue its services under new ownership.
Keywords: legal tech, legal marketplace, lawyer matching, digital legal services, online legal advice, fixed-price legal services, German law, client-lawyer platform, case management software, access to justice, University of Greifswald spin-off, Maximilian Block, Jacob Sass, Gansel Group, legal service platform, digital law firm, legal advisory online, automated legal documents, legal cost transparency, German startup