Axiom’s managed legal services spin off Factor – formerly Axiom Managed Solutions (AMS) – has hired Varun Mehta as CEO as it positions itself for significant growth. Mehta was on the founding team of Clutch Group, which in 2017 merged with Morae Global, where he served as president.
Since his departure from Morae Global, Mehta has been an active investor and advisor to companies of different size and scale across the legal, risk and compliance sectors, most recently advising Bodhala, a fast-growing legal tech provider supporting corporations in the analysis and optimization of legal spend.
The appointment follows the announcement last week that AMS had rebranded as Factor as it distances itself from the Axiom brand and plans to expand its market leadership, with a recommitment from its owner/ investors Carrick Capital and Benchmark Capital, who sold Axiom to Permira last year.
“As someone who has competed against the Axiom Managed Solutions business in the past, I have long admired and respected what they built, especially their leadership in delivering sophisticated legal managed services,” Mehta said. “The company’s leadership always had an intellectual curiosity and a true passion for developing a better model – unlike much of the industry, which seemed to be focused on winning the next contract. As a result, Factor begins its journey with an excellent client list and a reputation for taking care of their people and clients, which has become the gold standard in the industry.”
During his tenure at Clutch, Mehta served as CRO and co-led the business’s transformation from a staff augmentation firm to an industry leading, tech-enabled legal services firm that grew more than 350% over a three-year period to over 500 employees and seven offices across the globe.
“As we embark on Legal Innovation 2.0, Factor is well-positioned to serve the massive gap between highly-skilled yet expensive law firms and the more commoditized work streams in the LPO and ALSP category,” Mehta added. “With Factor’s deep experience transforming legal services through a combination of expert lawyers, smart technology and well-informed processes, we will focus on serving as a business enabler to general counsel and the businesses they represent.”