Total amount raised
$226.1 Millions
Latest funding date
4/1/2022
Location
Filevine has successfully raised significant funding through multiple rounds, including a Series D. The platform offers a suite of tools designed to streamline legal practice management.
Keep reading to explore the intricacies of Filevine's fundraising journey and the investors backing this innovative platform.
What Is Filevine?
Filevine, founded in 2014, is a legal practice management software company based in Salt Lake City, Utah. The company was established by Jim Blake, Nathan Morris, and Ryan Anderson.
Filevine offers a comprehensive suite of tools designed to streamline and enhance the operations of law firms. Their platform includes features for case management, document management, lead management, contract management, business analytics, eSignatures, billing and time-keeping, and document assembly.
With a team of 501-1000 employees, Filevine continues to innovate, providing AI-powered solutions to optimize legal workflows and improve efficiency for legal professionals.
How Much Funding Has Filevine Raised?
- Series D
- Amount Raised: $108M
- Date: April 2022
- Lead Investors: StepStone Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand services into new areas of law, including big law, insurance defense, corporate, governmental, and nonprofit legal counsel teams.
- Series C
- Amount Raised: $85M
- Date: January 2022
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and enhance product offerings.
- Series B
- Amount Raised: $20M
- Date: December 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series A
- Amount Raised: $8.3M
- Date: January 2019
- Lead Investors: Signal Peak Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and market penetration.
- Seed Round
- Amount Raised: $4M
- Date: April 2018
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund initial product development and market entry.
- Seed Round
- Amount Raised: $780K
- Date: July 2017
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop a minimum viable product.
Total Amount Raised: $226.08M. Current Valuation: Not publicly disclosed.
Key Investors
- StepStone Group
- Details: StepStone Group is a global private markets investment firm that provides customized investment solutions and advisory services. They cater to some of the most sophisticated investors worldwide.
- Investment Focus Areas: Private equity, real estate, infrastructure, private debt.
- Notable Investments: Various sectors including technology, healthcare, financial services.
- Golub Capital
- Details: Golub Capital is a market-leading private debt platform with over $45 billion of capital under management. They specialize in providing financing solutions to private equity-backed companies.
- Investment Focus Areas: Private debt, healthcare, software, technology services.
- Notable Investments: Investments in healthcare, software, and technology services sectors.
- Signal Peak Ventures
- Details: Signal Peak Ventures is an early-stage venture capital firm that invests in information technology and life sciences companies. They focus on companies with the potential to become market leaders.
- Investment Focus Areas: Enterprise software, SaaS, technology-enabled services.
- Notable Investments: Domo, Lucid Software, Pluralsight.
- Meritech Capital
- Details: Meritech Capital is a leading growth-stage venture capital firm that invests in technology companies. They focus on sectors such as software, healthcare, and consumer internet.
- Investment Focus Areas: Technology, software, healthcare, consumer internet.
- Notable Investments: Facebook, Salesforce, Tableau.
What's Next for Filevine?
Filevine is poised to capitalize on the burgeoning legal tech market, which is expected to grow significantly in the coming years. With plans to expand into big law, insurance defense, corporate, governmental, and nonprofit legal counsel teams, the company is well-positioned to address the increasing demand for legal services and the adoption of new technologies.
Future fundraising opportunities seem promising as Filevine continues to demonstrate impressive growth metrics, such as a 198% increase in annual recurring revenue. However, the company may face challenges in managing rapid growth, retaining top talent, and convincing traditional legal firms to adopt new technologies. Despite these hurdles, Filevine's strategic acquisitions and innovative solutions could pave the way for continued success.
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