Legatics, the automated deal management platform, has secured more than £500,000 in funding from a combination of angel investors and venture partners.
As part of the investment round, two non-executive directors will join the Legatics board: Simon Black, a former member of the Board at Magic Circle firm Allen & Overy and Managing Partner of their China and Japan offices; and Andrew Jameson, previously Head of Investment Banking for EMEA at MUFG, one of the world’s largest banks.
The investment will be used by Legatics to fund global expansion and further development of the platform, they said. This includes continuing Legatics’ expansion beyond banking and finance into corporate use cases, including mergers & acquisitions and equity capital markets.
The legal tech pioneer said that this investment takes the company’s post-money valuation to £3.14 million. They added that Legatics is currently being used by ‘more than half of Chambers and Partners top global banking and finance law firms on transactions in more than 15 countries’.
The move follows a series of investments in pioneering legal tech companies on both sides of the Atlantic, showing that market experts are taking the growth of this new wave of applications for the legal sector very seriously and see considerable opportunity for scaleable growth.
Simon Black said: ‘[I have] spent 25 years in private practice waiting for the kinds of automation solutions that Legatics offer and it’s a privilege to be joining the Legatics board. Their software really understands how deals are run and how lawyers are wired and has already provided law firms and their clients with significant efficiency savings.’
While, Andrew Jameson added: ‘Legatics is one of the most innovative yet practical legal technology companies that I have seen and I am excited to be joining the board to be part of growing a world-leading legal deal management platform.’
Anthony Seale, founder and CEO of Legatics, concluded: ‘Legatics is very excited about working with Simon and Andrew. As a software company, Legatics has always taken pride its level of sector-specific expertise and Simon and Andrew’s experience of legal transactions and investment banking at the highest level will bolster Legatics’ understanding of all users who engage with the platform”.
[ Legatics is featured in the AL 100 Legal Tech Directory. ]
