China Growth Capital has led a RMB120 million (US$17 million) series B round of financing in Wusong Technology, a Beijing-based Internet legal services provider, with participation from existing investor IDG Capital.
Founded in 2014, Wusong aims to create an Internet legal service platform, with a focus on empowering lawyers via online tools.
"Legal services are not standardized and requires extended service time, so simply matching demand and supply online will not work," said Jiang Yong, Wusong’s founder. "We focus on enabling lawyers in the aspect of professional knowledge, capabilities, branding and business partnerships."
The legal services market is worth around US$473 billion in the U.S. last year, around 28 times as large as China’s legal services industry, indicating massive growth potential, Jiang said.
The funding round, which the company claims to be the largest in China’s legal services field, follows a RMB27 million series A financing from IDG Capital last year.
Wusong says it has connected over 150,000 lawyers in China, offering them an enormous database of court decisions, related lawyers and judges, in addition to various marketing tools.
The company plans to use the latest proceeds on recruiting talent, product upgrade and marketing efforts.