![]() The lead investor in that Series A round, Tiger Global Management, will remain a minority investor. Litify had previously raised $50 million in Series A funding in 2019, on top of earlier rounds of $2.5 million in 2018 and $5 million in 2017. The parties did not disclose the dollar amount of today’s investment. It describes its product as an “end-to-end legal operating platform” that can be used for full-service practice management, enterprise legal management, plaintiff practice management and claims litigation management. ![]() Litify’s platform is unique in that it is built on top of Salesforce, the sales and marketing platform used by many Fortune 500 companies. It also highlights the industry’s move toward platformization, interoperability, and cloud-based digital transformation, all themes I’ve previously highlighted. The investment comes at a time when the legal technology has been seeing cutbacks and economic uncertainty. Born from innovations in steel more than a century ago, Bessemer’s storied history has afforded its partners the opportunity to celebrate and scrutinize its best investment decisions (see Memos) and also learn from its mistakes (see Anti-Portfolio).Bessemer Venture Partners, a VC firm that has already made substantial investments in legal technology companies such as Clio, DISCO and Anaqua, has acquired a majority stake in Litify, a law practice management platform founded in 2016 by a team of people who came out of Morgan & Morgan, the largest plaintiffs’ law firm in the United States. Bessemer has teams of investors and partners located in Tel Aviv, Silicon Valley, San Francisco, New York, London, Boston, Beijing, and Bangalore. Bessemer’s global portfolio has included Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast and currently has more than $20 billion of assets under management. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Built on Salesforce, Litify streamlines and automates matter and task management, document generation, timekeeping, billing, and client communications, while providing data-driven insights that allow law firms and legal teams to scale and improve their financial performance.īessemer Venture Partners helps entrepreneurs lay strong foundations to build and forge long-standing companies. Litify is the only platform that offers tailored solutions for law firms, in-house legal teams, government agencies, and nonprofits, connecting the entire legal ecosystem to provide better business outcomes for legal teams and better legal outcomes for their clients. Litify is the end-to-end legal operating platform that breaks down business silos to power better processes, collaboration, insight, and performance. Goodwin Procter LLP represented Bessemer in the transaction, and Litify was represented by Pryor Cashman. ![]() The firm has a successful track record of helping to grow cutting-edge legal technology companies including Clio, Disco, and Anaqua. Bessemer has a long history of investing in industry-defining software companies including Procore, ServiceTitan, Shopify, Toast, nCino, and Vlocity. He brings 15 years of business and vertical SaaS expertise to the company’s strategies and operations. With the backing of leading institutional investor Bessemer, Litify plans to bolster its unique market position as the only secure and open platform built to centralize legal business operations and drive efficiency for growth-minded law firm and corporate legal departments.īessemer Partner Brian Feinstein will serve as Chairman of Litify’s Board of Directors. BROOKLYN, N.Y.–( BUSINESS WIRE)– Litify, the best-in-class end-to-end legal operating platform, announced today that Bessemer Venture Partners has acquired a majority stake in the company as it achieves profitability and continues its next phase of growth. ![]()
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