Litify, a law firm practice-management technology built on top of the Salesforce.com platform, has acquired another Salesforce-based legal platform, LegalStratus, which provides e-billing and matter management for corporate legal departments and government agencies.
“With their combined resources and expertise, Litify and LegalStratus will give corporate legal departments, government agencies and insurance providers unparalleled transparency and integrated tools to help them optimize operations,” the companies said in announcing the acquisition.
Because both companies leverage the Salesforce platform for their products, they expect to begin mutual development and innovation immediately, they said.
Brooklyn, N.Y.-based Litify, founded in 2016, raised $50 million in Series A funding in 2019, on top of earlier rounds of $2.5 million in 2018 and $5 million in 2017. Its customers include law firms, corporate legal departments and government agencies.
LegalStratus, also founded in 2016 and headquartered in Manhattan, says that its product manages the full life cycle of legal matters, including intakes and investigations, and provides financial analytics that enable legal departments to improve operational efficiencies.
“LegalStratus’ expertise with financial tools built on Salesforce and their success with corporate legal departments gives us the ability to deliver the complete 360-degree legal experience,” said Pam Wickersham, Litify VP product and engineering, said in a statement. “Our roadmaps run complementary to one another, and our united expertise in the market will accelerate our plans for growth and reach.”
Eddie Lott, LegalStratus cofounder and head of development and consulting operations, said, “We believe that LegalStratus will dramatically disrupt the e-billing and matter management markets and finally provide legal departments the enterprise-class solutions they need to securely and reliably manage their business.”