Pangea3 Global co-CEO Sanjay Kamlani told PTI that the company will be raising up to $2 million to fund its expansion plans. "We will be raising the money by the end of this year to fund our expansion plans which include shifting the existing Mumbai office to a much larger facility, expanding our operations in the US and opening a new office in Bangalore or Delhi," he said.
Kamlani said the company would be recruiting an additional 120 people which would take the number of its employees to 150, a majority of them lawyers.
A recent National Association of Software and Service Companies-report pegged the market potential for legal outsourcing from the US at $3-4 billion.
Legal outsourcing makes its case
It said that only 2-3 per cent of this market, or roughly about $60-80 million, had been tapped so far. Pangea3 Global offers services in the field of patent research, analysis and prosecution, document review and related litigation services, commercial contracting and contract administration, legal research and analysis.
Commenting on the scope of the legal outsourcing industry in India, Kamlani said that it offered huge potential for Indian lawyers. "There are one million lawyers in India currently and 75,000-1,00,000 lawyers pass out every year. There is a huge scope for these people because of legal outsourcing industry that promises great career opportunties," he said.
Also read: Big money in this high-end BPO!