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

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  • Filevine secures Collection D round led by StepStone Group
  • Golub Cash, Signal Peak Ventures, Meritech Capital participated

(Reuters) – Filevine, which makes a system for controlling authorized work, on Thursday grew to become the second main authorized technology business given that the get started of April to publicly disclose a spherical of funding exceeding $100 million.

The Salt Lake City-centered corporation reported it shut a $108 million Collection D financing round led by StepStone Team. Existing backers Golub Funds, Signal Peak Ventures and Meritech Capital also participated.

Contract administration organization LinkSquares stated on April 4 it lifted $100 million in Collection C funding, in an additional of the year’s premier authorized tech rounds so significantly.

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Filevine provides software to enable corporations take care of situations, paperwork and contracts by automating duties and deadlines and enabling for staff collaboration, in accordance to its web site.

Filevine stated that legislation firms have turned to its program as the sector contends with document shopper need and restricted lawyers.

The business reported contemporary funding will assistance gas market place growth into huge regulation, corporate, coverage protection, federal government and nonprofits. Filevine’s internet site at the moment lists numerous individual injury and demo corporations as shoppers.

Scott Mozarsky, a running director at M&A advisory firm JEGI Clarity, mentioned in an email he expects funding to carry on to flow to legal tech organizations in 2022, citing “fast accelerating tech adoption” by law companies and businesses as one particular element.

He pointed to other big rounds in the authorized sector exceeding $100 million in the previous yr elevated by providers like Ironclad, Clio and Everlaw.

Study extra:

LinkSquares nets $100 mln in most current massive lawful tech funding round

Authorized tech buzzed throughout 2021 with IPOs, new ‘unicorns’

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