LawVu raises $12M in Series A funding from Insight Partners
At a Glance
LawVu has raised $12M (NZD 17 million) in Series A funding from Insight Partners to strengthen its position to emerge as a leader for in-house legal teams. The proceeds from the funding would be used to accelerate platform development and hire for key leadership roles
New Zealand’s LawVu, a provider of connected software platform for in-house legal teams, has raised NZD 17 million ($11.8 million) in a Series A funding round led by Insight Partners, with support from AirTree Ventures, an official announcement from LawVu said.
The previous round of funding for LawVu came in May this year, where it netted AUD 2.3 million ($1.7 million) in a pre-Series A round. Tim Boyne, co-founder and CSO of LawVu, stated in an official blog post that the investment validated the positive opinions around LawVu’s product and teams and added that it would enable them to continue optimizing the performance of in-house legal departments.
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,Tim Boyne, co-founder and CSO of LawVu
LawVu, founded in 2015, enables legal teams to be more collaborative and deliver high-value outcomes with its Legal Workspace, a connected software platform for in-house legal teams. Sam Kidd, co-founder and CEO of LawVu, stated that in-house legal teams perform a critical role inside every corporation and added,
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 spaceSam Kidd, co-founder and CEO of LawVu
LawVu stated that it would use the proceeds from the funding to extend its category leadership after tripling its Annual Recurring Revenue (ARR) in 2020. It will also hire for key leadership roles in the US to drive global go-to-market, open offices in the US and accelerate the development of its platform.
Rachel Geller, managing director at Insight Partners, who will also join the LawVu board, expressed excitement at the prospect of the partnership with LawVu and added,
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.Rachel Geller, managing director at Insight Partners