UK-headquartered legal project management platform Legatics has closed a post Series A £4m ($5.1m) investment from FINTOP Capital, including follow-on investment from current institutional investor, Gresham House Ventures. The company says that this latest financing round will fuel further growth, including expansion plans for the US market.
Anthony Seale, co-founder and CEO of Legatics, said: “From our first conversation, it was clear that the FINTOP team really understood the legal technology space. They are a team of former technology operators, including Rick Kushel the former CEO of DealCloud (which was acquired by Intapp in 2018). They are uniquely positioned to support us to execute on our next phase of growth, of which expansion into the US market is an important part.”
As part of the financing, Chris Haley, general partner from FINTOP Capital and Mark Stroud from Gresham House will join the board as directors. The other existing board members are Stuart Barr, former chief product and strategy officer at HighQ and subsequent investor in Syncly, and Legatics’ chief commercial officer, Daniel Porus.
FINTOP is an operators for operators fund and Haley, who was previously a US attorney, sits on the board of a number of companies including legal billing software company LeanLaw, which raised a $4m Series A in March. Stroud, meanwhile, has long operated in the private equity space and led Bridgepoint’s investment in fellow legaltech firm BigHand, becoming one of its non-executive directors.
Seale said: “With the additions of Mark and Chris, we’re confident we have a highly skilled board that is passionate about freeing lawyers from the drudgery of deal administration with streamlined legal transactions. I can’t wait to work with them through this next phase of growth.”
This raise builds on earlier funding rounds. In 2021, Legatics received a £3M Series A investment from Mobeus, a venture capital trust fund which was subsequently acquired by Gresham House.
That followed angel investment in 2018, which included funding from Simon Black, former member of the board at magic circle firm Allen & Overy and managing partner of their China and Japan offices, plus Andrew Jameson, former head of investment banking for EMEA at Japan’s largest bank, MUFG.
Legatics started in 2015 out as a legal transaction management platform but in February this year launched Legatics 2, which provides much wider legal project management functionality. Customers of Legatics include Allen & Overy, Dentons, Shearman & Sterling, BCLP, DLA Piper and Hogan Lovells.
As part of its US drive it will be attending ILTACON in Orlando.