Legaltech acquisition: Intapp acquires financial services CRM DealCloud
In a move that will increase Intapp’s exposure to the financial services market, the Silicon Valley-headquartered vendor has acquired cloud based investment banking client relationship management platform DealCloud, in a deal that also sees it move a step closer to becoming a cradle to grave platform to support the law firm lifecycle.
DealCloud, which in 2015 received $5.3m in growth financing, has around 100 employees spread across its New York headquarters and North Carolina offices.
In addition to exposing Intapp to new financial institution clients, it will neatly integrate with recently launched client onboarding tool Intapp Experience and Intapp’s president Dan Tacone told Legal IT Insider: “Buisness development is now at the front and centre of law firm priorities and after launching Intapp Experience, it felt like a good thing to round out our offering. For us it’s about filling out the platform in a comprehensive way.”
He added: “In the financial services sector, Salesforce-based CRM systems are not working and DealCloud is replacing them at a rapid rate.”
Intapp has a cloud-first strategy and Tacone added: “We do believe the future is the cloud and everything we make, buy or build will be cloud but it has to tick the platform strategy box.”
Intapp has been steadily building up its client development practice, including in April hiring former Manzama SVP Miles McGoun. Mark Bilson, who is the Vice President of client development, formerly worked for LexisNexis Interaction.