Legatics secures £500k to expand deal management platform
2015-founded deal management platform Legatics has secured more than £500,000 in investment from a combination of angel investors and venture partners bringing the company’s post-money valuation to £3.14 million.
Legatics has predominantly been used for streamlining workflows in large-scale banking and finance transactions. The London-headquartered company says that the investment will be used to fund its continued global expansion and further development of the platform. This includes continuing Legatics’ expansion outside of banking and finance into corporate use cases, including mergers & acquisitions and equity capital markets.
As part of the investment round, two heavyweight non-executive directors will join the Legatics board. Simon Black, formerly managing partner of Allen & Overy’s China and Japan offices, and Andrew Jameson, previously head of investment banking for EMEA at MUFG, one of the world’s largest banks.
Simon Black said: “I spent 25 years in private practice waiting for the kinds of automation solutions that Legatics offer and it’s a privilege to be joining the Legatics board. Their software really understands how deals are run and how lawyers are wired and has already provided law firms and their clients with significant efficiency savings”.
One of A&O’s Fuse accelerator cohorts (currently in for a second term) as well as a resident in Barclays Eagle Lab in Notting Hill, Legatics was adopted by A&O’s banking practice in February and is currently being used by more than half of Chambers and Partners top global banking and finance law firms on transactions in more than 15 countries.