Here is a round-up of recent investment and deal news involving legal technology companies:
Everlaw raises $25 million. Everlaw, a Berkeley, Calif., based e-discovery and litigation platform, has closed a a $25 million Series B funding round, with new investor Menlo Ventures leading the round and continued participation from Andreessen Horowitz. In 2016, the company raised $8.1 million in Series A funding.
In announcing the investment, CEO AJ Shankar said the company has “come a long way” since the Series A round, having expanded its workforce to 70 and its geographic reach to include Australia, the UK and Europe. He said the investment will be used to hire more staff and further develop the company’s technology.
Seal Software acquires Apogee Legal. Just a month after announcing that it had secured a $30 million investment, Seal Software, a developer of AI-powered content discovery and analytics products, announced that it has acquired Apogee Legal, a provider of advanced contract analytics for enterprises. Terms were not revealed.
Apogee and Seal have been business partners since 2015. Apogee’s employees will join Seal and its three cofounders will take on new leadership roles, with Matt Miller now overseeing Seal’s production group and legal solutions team, Steve Harber focusing on building out the Seal legal solutions strategy and the Seal legal partner channel, and Jim Wagner becoming Seal’s chief strategy officer.
PactSafe gets $5.5 million. PactSafe, an Indianapolis cloud-based contracting platform launched in 2015, has completed a $5.5 million Series A funding round. The round was co-led by Mercury Fund and Signal Peak Ventures, along with repeat investors Elevate Ventures and Vulpes Testudo.
PactSafe says it will use the funds to expand its reach further into enterprise SaaS, ecommerce markets and other verticals, while also investing in further development of its contracting software.
LegalZoom invests $1.8 million in LawPath. LawPath, an Australian legal technology startup, says it has finalized a $1.8 million investment round led by LegalZoom, the world’s largest provider of online legal solutions. Like LegalZoom, LawPath leverages technology to provide businesses with affordable legal services.
LawPath plans to use the proceeds to increase sales and marketing efforts in a bid to expand market penetration across Australia and offer its services to all types of businesses. In conjunction with the investment, LegalZoom will provide LawPath with strategic guidance, including technology expertise, marketing insights and assistance with LawPath’s expansion plans across Australia and into international markets.
Clarilis gets £3.1 million. Clarilis, a document-drafting automation platform based in Birmingham, England, has received a £3.1 million investment from NVM Private Equity, a Newcastle investment firm. Founded in 2015, the company’s platform is used by firms in both the UK and the U.S.
“The investment from NVM will help Clarilis to continue on its growth trajectory, with the funding enabling the team to accelerate their strategic initiatives and capitalise on the strong market demand they are experiencing,” NVM said in announcing the deal.
More deals: See my post on Above the Law, $200M In Two Months Says Investors No Longer Snubbing Legal Tech.