Litera secures further investment from Hg
The investment will be used for further growth and to continue Litera’s long-term strategy to be the world’s most comprehensive provider of law firm software
Litera, a global leader in legal technology solutions, today announces that Hg, a leading software and services investor and supporter of the expansion of Litera since 2019, will lead a further majority investment in the business.
Following this new investment, Litera will be well-positioned to continue its long term growth trajectory, receiving new funding for further expansion into new areas and geographies, as well as continued investment in innovation, to empower more legal teams with simplified technology, for more aspects of their daily workflow.
The terms of the transaction are not disclosed.
Based in Chicago, New York and London, Litera is a leading provider of legal workflow and workspace technology worldwide. Litera’s software empowers users across the legal industry to generate, review and distribute high-quality content quickly and securely, from any device. Today, Litera supports thousands of document-intensive organisations across the globe, helping them to satisfy the complex demands of clients and regulators, using innovative technologies such as AI and machine learning, to support them.
Litera has seen significant growth since Hg first invested in 2019, having made 12 acquisitions, approaching more than 1,000 employees across 17 different countries and serving over 15,000 customers – gaining over 10 times the number of customers since Hg first invested.
Avaneesh Marwaha, Litera CEO, said: “The last two years have seen Litera treble in size, serving many thousands of customers with more solutions and in more geographies. The velocity and complexity of this expansion has been made possible by an incredible team at Litera combined with a fantastic relationship with Hg, whose knowledge and impressive network in legal tech has presented numerous opportunities for the business. We are delighted that Hg is committing further investment into the business to provide Litera even more firepower to enable us to continue this trajectory for many years to come.”
Jean-Baptiste Brian, Partner, Ben Meyer, Partner and Hector Guinness, Director at Hg, said: “Litera has grown significantly in the time since we have backed the business, but we are just getting started. There remains enormous long term opportunity to support productivity improvement in law firms with modern software, and Litera’s position as the ‘Vendor of Choice’ for law firm CIOs, their highly talented team and well invested products make Litera remains ideal platform to continue to support this theme for the long term. At Hg we value long-term relationships where we can build true, scaled platforms that are champions in their sectors. We see this potential in Litera and we excited for what we can achieve together.”
