Filevine Raises $108M Sequence D for Legal Work Platform Serving Law Firms and Company Counsel Teams
Started in 2014, Filevine is creating a new interface for authorized work. CEO and co-founder Ryan Anderson, a former litigator, felt that legacy lawful program was sick-equipped to handle the urgent tasks that bombarded him and his colleagues. Standard document administration remedies, undertaking management apps, and collaboration computer software didn’t meet the special needs of authorized gurus. Anderson and his co-founders built Filevine to fill this void in the company software-as-a-company (SaaS) marketplace.
Shortly just after Filevine introduced, the inadequacies of legacy authorized application turned obvious. Workloads increased without the need of proportionate expansion in personnel, and then COVID-19 pressured distant get the job done on the sector. By 2021, record demand for legal products and services, a lack of capable expertise, and substantial burnout among the lawful pros were driving corporations to adopt new technological innovation at report costs. In fact, the authorized tech current market is predicted to develop at a compound once-a-year advancement amount (CAGR) of above six % involving 2019 and 2025 in accordance to Statista.
Filevine’s business functionality shows just how properly the company has resonated with lawful gurus, bridging the gap concerning demand from customers and talent. Above the past two decades, Filevine reached 198% development in annual recurring profits (ARR) even though protecting a buyer net retention fee of over 130%. In 2021 by yourself, Filevine signed 708 new customers throughout the legal sector. Considering that acquiring Outlaw, a contract administration solution, in Could 2021, Filevine has developed Outlaw’s ARR by 400%.
An Inc. 5000 and Deloitte Quickly 500 organization in 2021, Filevine has managed to sustain extraordinary growth as the enterprise matures. Past calendar year, Filevine also received many honors which include “All round Case Administration Corporation of the Yr” from the Legal Tech Breakthrough Awards and “Most effective SaaS for Productivity” in the 2021 SaaS Awards.
“Filevine has allowed us to flip the script on how lawful perform is done. You employed to say, ‘Okay, we’re receiving powering — just incorporate a few much more typists or a few additional secretaries.’ Now I say, ‘how can we alter the workflow to be a lot more productive? What can we standardize? What can we automate in Filevine?'” claimed Bob DeRose, Managing Husband or wife at Barkan Meizlish DeRose Cox, LLP. “It will allow me to seek the services of smarter and only improve headcount when it is truly vital.”
Named a 2021 Best Office by The Salt Lake Tribune, Filevine welcomed 370 employees in 2021. The firm also deepened its management bench with numerous crucial hires:
- Ian Charles, Main Economic Officer, joined Filevine with more than 25 many years of financial leadership in public marketplaces, M&A, and internationalization. He beforehand held the role of CFO at FLEXE, Scoop Technologies, and Planful and served as CFO Spouse for The Brenner Group®.
- Scott Brown, Main Technology Officer, is an business technological know-how chief with a history of products innovation, profits progress, and scalable architecture. Prior to becoming a member of Filevine, he was CTO of Combine and has held government roles at OVH US, iCitizen, Media Temple, and GoDaddy.
- Jen Gray, SVP of Advertising & Corporate Tactic, was promoted to a new expanded role targeted on strategic setting up, GTM expansion, and business alignment and execution. She joined Filevine in 2020 and earlier held management positions at Qualtrics and Weave throughout their hypergrowth phases, and at Adobe.
“Getting reworked lawful work and small business for personal methods, we’re energized to further more grow in corporate, governmental, and nonprofit counsel teams that encounter the identical work issues but aid their organizations otherwise,” explained Ryan Anderson, CEO of Filevine. “We are taking on this growth prospect with new executives and a seasoned team of leaders who continue to awe our investors with their perseverance and benefits.”
Filevine a short while ago built interior promotions to figure out the functionality of its leadership corps. Promotions include things like Sean Dowdle to EVP of Revenue, Alex Pearson to Typical Counsel, Michael Anderson to SVP of Product or service Technique, Cain Elliott to Head Legal Futurist, and co-founder Nate Morris to Main Culture Officer.
For much more info stop by www.filevine.com.
About Filevine
Filevine is modifying the way authorized function receives finished for regulation practitioners and their shoppers. As the major lawful function platform, Filevine is dedicated to empowering all businesses with instruments to simplify and elevate elaborate, substantial-stakes authorized do the job. Powering almost everything from doc administration and shopper communication to legal drafting and deadline and job management, about 25,000 legal professionals use Filevine everyday to produce excellence in each individual agreement, deadline, and end result. Filevine is the leading authorized program enterprise on the Inc. 5000 list, has been named a single of the Utah Company Rapidly 50 and is among the leading 50 quickest-increasing privately-owned software program corporations in accordance to the 2021 Inc. 5000 record.
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Alli Harris
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