Following its $8m funding round, entity management platform Athennian has announced an ‘acqui-hire’ via the acquisition of the team from Montreal-based tax visualisation startup, Redox Technologies. The team will help clients to visualise complex corporate ownership and tax structures.
This in reality means that Redox founders Max Lussier and Nic Saudrais are joining Athennian’s engineering team after starting their own company back in 2016. This is not the hugest move in legal tech history, but an important add-on for Athennian and one that builds on its recent cash injection to help drive growth.
It’s also another example of continued legal tech consolidation, which has seen a surge in 2020.
Adrian Camara, CEO of Athennian, said: ‘The Redox team has developed deep expertise in automating corporate ownership and tax structures. We are excited to expand Athennian’s org chart capabilities by integrating the Redox team.
‘Athennian stores millions of data points related to corporate ownership transactions; and our customers are looking for increasingly sophisticated ways to analyse and report this data for tax, legal, finance and compliance purposes.’
Lussier added: ‘We are excited to continue our vision to optimize corporate legal and tax workflows at Athennian’s scale. Athennian has a very diverse and talented team that we are pleased to join.
‘Combining Athennian and Redox’s engineering talent creates strong synergies that will continue to help paralegals, law clerks, and corporate secretaries succeed, and we remain focused on accelerating workflow for paralegals and corporate secretaries with consumer grade user experiences.’
For more information about Athennian, its funding, and where it is heading, check out the AL TV interview below with Adrian Camara, CEO. It includes a product walk through.