This post is by Catherine Shu from Fundings & Exits – TechCrunch
In-house legal teams play a critical role in companies, but a lot of them don’t have the same kind of technology as their counterparts in sales or finance. Instead, they often rely on email, shared inboxes and spreadsheets. LawVu gives them a cloud-based platform to share legal advice, documents, communicate with each other or external counsel and create reports for the rest of the company, including the C-suite. “LawVu is to legal what Salesforce is to sales teams,” co-founder and chief strategy officer Tim Boyne told TechCrunch in an email.
The Tauranga, New Zealand-based company announced today that it has raised $17 million NZD (about $11.9 million USD) in Series A funding led by Insight Partners, the venture firm known for its ScaleUp program for growth-stage startups, with participation from returning investor AirTree Ventures. Its previous funding was a seed round of about $1.8 million USD led by Shasta Ventures and AirTree, announced in May.
LawVu was founded in 2015 by Boyne, who spent over a decade working in IT and operations at law firms, and Sam Kidd, a SaaS project management expert. Since LawVu was designed for distributed teams and remote workers, adoption increased dramatically in 2020 during the COVID-19 pandemic. LawVu’s annual recurring revenue tripled in 2020 and is continuing to grow. While it has users in 30 countries, about two-thirds of its recurring revenue now comes from the United States and Australia, with clients like Telstra, AMP, Linktree, Expedia, PwC and Instacart.
The company plans (Read more...)