Hg, a software and services investor and supporter of the expansion of legal technology solutions specialist Litera since 2019, is leading a further investment in the business.
The terms of the transaction have not been disclosed.
Based in Chicago, New York and London, Litera software empowers users across the legal industry to generate, review and distribute high-quality content quickly and securely, from any device. Litera supports thousands of document-intensive organisations 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, says: “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, says: “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.”
