Filevine rakes in $108 mln as cash flows to legal technology

REUTERS/Dado Ruvic/Illustration

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  • Filevine secures Series D spherical led by StepStone Team
  • Golub Funds, Signal Peak Ventures, Meritech Cash participated

(Reuters) – Filevine, which helps make a system for managing authorized do the job, on Thursday grew to become the 2nd big lawful technologies firm due to the fact the start of April to publicly disclose a round of funding exceeding $100 million.

The Salt Lake Town-based company reported it shut a $108 million Sequence D funding spherical led by StepStone Group. Existing backers Golub Funds, Sign Peak Ventures and Meritech Funds also participated.

Deal management organization LinkSquares mentioned on April 4 it elevated $100 million in Series C funding, in yet another of the year’s biggest authorized tech rounds so much.

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Filevine delivers program to aid corporations regulate instances, paperwork and contracts by automating duties and deadlines and making it possible for for workforce collaboration, in accordance to its web site.

Filevine explained that legislation companies have turned to its software as the business contends with file shopper demand and minimal attorneys.

The business said fresh new funding will aid gas marketplace growth into significant legislation, corporate, insurance coverage defense, federal government and nonprofits. Filevine’s website now lists many private injuries and trial firms as clientele.

Scott Mozarsky, a running director at M&A advisory firm JEGI Clarity, reported in an email he expects funding to continue on to movement to lawful tech firms in 2022, citing “promptly accelerating tech adoption” by legislation firms and firms as one particular factor.

He pointed to other substantial rounds in the authorized sector exceeding $100 million in the past 12 months raised by corporations like Ironclad, Clio and Everlaw.

Study much more:

LinkSquares nets $100 mln in newest massive authorized tech funding spherical

Legal tech buzzed all through 2021 with IPOs, new ‘unicorns’

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