Legal tech startup for in-house legal teams, LawVu, has announced that it has raised $17 million NZD in Series A funding led by New York-based global private equity and venture capital firm Insight Partners with support from Australian venture capital firm AirTree Ventures.
The company will hire key leadership roles in the US to drive global go-to-market, open US offices and accelerate development of its platform for corporate in-house legal teams.
“In-house legal teams perform a critical function inside every corporation,” said Sam Kidd, co-founder and CEO of LawVu. “However, you’ll often find that the only ‘tech’ they have is email and word documents, and legal teams are becoming a bottleneck, as the rest of the business leverages technology to speed up. It’s incredibly exciting to be pioneering a new category and extending our leadership in this space.”
“LawVu’s global growth speaks volumes to its future as a business and ability to provide high-value outcomes to legal teams. Its combination of intuitive user experience and excellent customer feedback make LawVu a stand out in the legal tech industry. ” said Rachel Geller, Managing Director at Insight Partners, who will also join LawVu’s board. “We’re excited for our partnership with LawVu as it continues to expand globally.”
James Cameron, Partner of AirTree Ventures, which previously invested with LawVu earlier this year, added, “LawVu have found themselves with the right product, in the right market at the right time and we’re thrilled to be doubling down to support their impressive growth. There is a huge push across the in-house legal industry to become more digital and efficient, and LawVu is considered the leader in this space amongst many of the most tech savvy in-house legal teams in the world. It’s also fantastic to be investing alongside more world-class global investors like Insight to help continue to grow the business in its biggest markets in the US and Europe. As we’ve seen from other global leaders that have emerged from our region such as Canva and Linktree – there’s huge demand from global investors to invest in fast-growing Aussie and Kiwi tech businesses and this is a testament to the emerging technology ecosystems that are developing here.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.