New York City-based Litify, a software platform for managing law firms, has raised $5 million in funding. The backer was Fortress Investment Group.
NEW YORK, Feb. 1, 2017 /PRNewswire/ — Litify, a transformative software platform for managing law firms, announces that it closed a $5 million funding round from funds managed by affiliates of Fortress Investment Group LLC (collectively, “Fortress”) in the fourth quarter of 2016. Founded in 1998, Fortress is a leading, highly diversified global investment firm with over $70 billion in assets under management.
The financing builds on an exceptional year for Litify, which has seen rapid adoption of its software by leading law firms, key executive appointments and strong market momentum. The $5.0 million investment will help Litify aggressively expand its sales and marketing efforts as well as broaden and accelerate product development.
Litify’s software is designed specifically to allow law firms to have far greater insights and transparency into their operations. The software improves law firm efficiency by providing an intuitive and streamlined platform for intakes, referrals, case management, and internal and external communication. Built on top of the Salesforce.com platform, Litify leverages the power of Salesforce with custom applications tailored specifically for the legal industry.
Litify was born out of founder Reuven Moskowitz’s and John Morgan’s vision to revolutionize the business of law. Recognizing a significant gap in the legal industry, the two pioneered an innovative solution for transforming law firms into high-performing businesses. To make their vision a reality, they have assembled an accomplished team of executives from Salesforce and other leading enterprises.
“Litify cares about helping law firms reach new heights,” explained co-founder and Chief Technology Officer Ryan Hallman, who joined Litify after over a decade at Salesforce. “So we created legal practice management software that is highly advanced, yet simple to use. We help lawyers transform their practices into successful enterprises, which ultimately benefits their clients as well. By combining valuable expertise in the areas of business, law, and technology, we developed a winning process that empowers law firms to operate as successful, dynamic businesses.”
Litify’s strategic partnership with Salesforce, the world’s leading customer relations management platform, allows the company to provide its clients with exceptional service. Litify’s software meets the highest level of security and compliance standards, while providing quick and reliable practice management access. “We are a proud Salesforce partner,” Hallman said.
Litify has wasted no time in establishing a team of industry leaders. Brian Kempner, a member of the Litify leadership team, is a seasoned venture capital investor from FirstMark Capital. “Early funding allowed us to attract a superior team and we have already experienced significant successes with attracting major clients,” Kempner said.Get your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.