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

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  • Filevine secures Sequence D round led by StepStone Team
  • Golub Funds, Sign Peak Ventures, Meritech Funds participated

(Reuters) – Filevine, which helps make a system for taking care of legal do the job, on Thursday turned the second important legal technological innovation enterprise considering that the start off of April to publicly disclose a round of funding exceeding $100 million.

The Salt Lake Town-centered corporation explained it shut a $108 million Collection D financing spherical led by StepStone Group. Existing backers Golub Cash, Sign Peak Ventures and Meritech Capital also participated.

Agreement administration corporation LinkSquares said on April 4 it lifted $100 million in Series C funding, in a further of the year’s major lawful tech rounds so much.

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Filevine features program to support firms take care of conditions, documents and contracts by automating jobs and deadlines and letting for staff collaboration, according to its web page.

Filevine stated that legislation corporations have turned to its computer software as the sector contends with document shopper demand and confined lawyers.

The enterprise mentioned fresh new funding will assistance gas industry expansion into huge legislation, corporate, insurance policies protection, governing administration and nonprofits. Filevine’s internet site now lists several personal injuries and demo corporations as clients.

Scott Mozarsky, a running director at M&A advisory company JEGI Clarity, claimed in an email he expects funding to go on to stream to legal tech businesses in 2022, citing “rapidly accelerating tech adoption” by legislation companies and companies as 1 component.

He pointed to other massive rounds in the authorized sector exceeding $100 million in the earlier 12 months raised by organizations together with Ironclad, Clio and Everlaw.

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