Hg has made an investment in Litera, a provider of legal technology solutions. No financial terms were disclosed.
Chicago, IL, USA and London, United Kingdom – 5th November 2021: Litera, a global leader in legal technology solutions, today announces that Hg, a leading software and services investor and supporter of the expansion of Litera since 2019, will lead a further investment in the business.
Following this new investment, Litera will be well-positioned to continue on its long-term growth trajectory, receiving funding for further expansion into new areas and geographies, as well as continued investment into innovation to empower more legal teams, for more aspects of their daily workflow, with simplified technology.
The terms of the transaction are not disclosed.
Based in Chicago, New York and London, Litera is a leading provider of legal workflow and workspace technology worldwide. Litera’s software empowers users across the legal industry to generate, review and distribute high-quality content quickly and securely, from any device. Today, Litera supports thousands of document-intensive organizations across the globe, helping them to satisfy the complex demands of clients and regulators, using innovative technologies such as AI and machine learning.
Litera has seen significant growth since Hg first invested in 2019, having made 12 acquisitions to broaden its product and geographic coverage and now approaching more than 1,000 employees across 17 different countries. Litera also has gained over 10 times the number of users since Hg first invested, now serving over 15,000 customers.
Avaneesh Marwaha, Litera CEO, said: “The last two years have seen Litera treble in size, serving many thousands of customers with more solutions and in more geographies. The velocity and complexity of this expansion has been made possible by an incredible team at Litera combined with a fantastic relationship with Hg, whose knowledge and impressive network in legal tech has presented numerous opportunities for the business. We are delighted that Hg is committing further investment into the business to provide Litera with even more firepower to enable us to continue this trajectory for many years to come.”
Jean-Baptiste Brian, Partner, Ben Meyer, Partner and Hector Guinness, Director at Hg, said: “Litera has grown significantly since we first backed the business in 2019, but we are just getting started. There is still enormous opportunity to support further productivity improvement in law firms with modern software. Litera’s position as the ‘Vendor of Choice’ for law firm CIOs, their highly talented team and well-invested products means that the business is an ideal platform to continue to support this theme for many years to come. At Hg we value long-term relationships where we can build true, scaled platforms that are champions in their sectors. We see this potential in Litera and we are excited for the future.”
Litera has been a global leader in legal technology for 25+ years, helping legal teams work more efficiently, accurately, and competitively. As a leader in document workflow, collaboration, and data management solutions, we empower legal teams with simplified technology for creating and managing all their documents, deals, cases, and data. For more information about Litera visit, litera.com or follow us on LinkedIn.
Hg is a leading investor in software and services, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $78 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visit www.hgcapital.com for more information.