Vista Equity Partners has made an undisclosed investment in Zapproved Inc. Based in Portland, Oregon, Zapproved is a provider of e-discovery software for corporate legal departments.
PORTLAND, OR–(Marketwired – May 16, 2017) – Zapproved Inc., the market leader in cloud-based e-discovery software for corporate legal departments, today announced that the company has received a strategic investment from Vista Equity Partners (“Vista”) to accelerate their growth in the e-discovery software market.
Vista is a leading private equity firm that invests in software, data and technology companies. The partnership with Zapproved is the first from Vista’s newly launched Endeavor Fund, which focuses exclusively on enterprise software and data businesses under $30 million in revenue. Vista offers these companies and their management teams the financial capital, expertise and support to build an operational foundation for sustainable growth while maintaining and advancing their market leadership.
“Zapproved has been at the forefront of providing software to in-house legal teams to help them take control of their litigation response and electronic discovery,” said Zapproved CEO and founder Monica Enand. “Our customers require the sophistication of a modern, secure, and intuitive solution that frees up dependence on law firms and IT. When considering multiple investors, our strategic partnership with Vista was the clear choice. Vista offers the operational expertise to build on our momentum in the market and proactively anticipate the increasing demands of today’s corporate legal departments.”
Enand and the Zapproved team will work with Vista to boost Zapproved’s development pace and expand the team to serve a rapidly growing customer base of corporate legal departments. With a roster of nearly 300 corporate and federal legal teams and world-class customer retention rates, Zapproved will continue to focus on its mission to provide a secure, cloud-based software platform to modernize corporate e-discovery.
“Zapproved is well-poised to meet the challenges of the future for the corporate legal department,” said René Yang, principal at Vista Equity Partners and co-head of the Endeavor Fund. “Their incredible record of customer satisfaction and retention, strong leadership team and culture, and history of high growth position them as the leading solution in an evolving marketplace. We look forward to partnering with the Zapproved team to provide corporate legal teams the power, control, flexibility, and ongoing innovation they require.”
About Zapproved Inc.
Founded in 2008 in Portland, Ore., Zapproved Inc. is a pioneer in developing cloud‐based software for corporate legal departments. The Z-Discovery Platform returns power to in‐house corporate legal teams and helps them navigate electronic discovery with minimal risk and cost, and it sets new standards for scalability and intuitive design. The company’s flagship product, Legal Hold Pro, is widely adopted by Fortune 500 and Global 2000 corporations and has earned recognition as the Best E-Discovery Legal Hold Product at the 2015 and 2016 Legaltech News Innovation Awards, Best of the National Law Journal 2014 – 2016. Zapproved was recognized in Deloitte’s 2016 Technology Fast 500, the 2014 Inc. 500 as one of the fastest growing private companies in the U.S., and was named as a “vendor to watch” in the 2015 Gartner Magic Quadrant for E-Discovery. Zapproved is SOC2 ® Type 2 certified validating by a third party that Zapproved’s systems have controls in place to protect against unauthorized access (both physical and logical).
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $30 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.