We’re incredibly excited to announce our Series A round, enabling us to strengthen and extend LawVu’s position as a category leader for in-house legal teams.
Insight Partners, the New York-based global private equity and venture capital firm, led our $US12 million ($NZD17 million) Series A round, with support from leading Australian venture capital firm, AirTree Ventures.
The investment validates what our customers are saying about our product and our team. It enables us to continue to optimize the performance of in-house legal departments, and increase the quality of in-house legal teams’ engagement with the wider business.
Using this investment and the expertise of our new partners we’ll scale up our business and accelerate our mission to transform the in-house legal function.
Setting the scene for global growth
Our growth is predominantly coming in the form of people. We’re building out our team in the US, Australia, Europe, here in New Zealand and further afield. Actually, we’re building our team across the globe, and across all areas of our business.
We currently have more than two thirds of recurring revenue coming from the US and Australia, so we’ll be looking to expand the LawVu team in those areas. We’ll hire key leadership roles in the US to drive the global go-to market, open US offices, and accelerate the development of the platform for corporate in-house legal teams.
There are massive growth opportunities and it’s such an awesome space to be in at the moment.
We’re transforming the in-house legal function
For us, our Series A announcement is another opportunity for us to revisit our why – the essence of why LawVu exists.
We continue to make a dent in an industry that has remained unchanged for hundreds of years, building a new category that covers the entire workflow of an in-house legal team, and connecting them to the rest of the business.
Our vision has evolved into a SaaS platform unlike anything else, and the future is even more exciting as we look to leverage best in-class technologies, such as AI, as they become available.
We’re fully aware that we’re defining a category in an industry where it’s hard not to get distracted by the flashy point solutions and the energy that surrounds them.
But we’re secure in the knowledge that at LawVu we’re sticking to our thesis that true legal transformation will be data led, based around a robust operating system that manages all the legal work in an organization – just like every other department in the enterprise.
Point solutions have a shorter lifespan, solving just one issue at a time and with the need to go through another procurement process, another implementation program, and even more training when the next problem arises.
We’ve done the hard work of building a robust, intuitive system of record, connecting every process, task, document, and communication in the legal team, and capturing and storing the outputs in a structured, meaningful format that can be turned into institutional IP and actionable insights.
We’re augmenting our workspace with our next generation of business-facing, self-service tools, workflow automation, contract analysis, and more turnkey analytics framework that will instantly give our users time back in their day, while helping the business move faster and get better results.
It’s exciting to be pioneering a new category and extending our leadership in this space.
Join us as we create a legal ecosystem that combines our LawVu platform with a global community, as we continue on our journey to transform the in-house legal function.
Sam & Tim