The legal tech industry has seen rapid growth in recent years. Companies like Elevate are at the forefront, using technology to improve efficiency and expand access to legal services. Elevate specifically focuses on the law firm and legal department market. It raised significant funds in 2019 when a private equity firm K1 Investment Management invested $200 million. The funds will help Elevate grow its team, support new product development, and prepare for a potential IPO. This investment highlights the opportunities in legal tech and Elevate’s leading position.
Elevate acquires legal consulting firm Halebury to drive transformation of legal services industry
In January 2019, Elevate announced the acquisition of UK-based legal consulting firm Halebury. Elevate stated the acquisition is part of its efforts to transform the legal services market. Halebury focuses on delivering managed legal services. The acquisition expanded Elevate’s client base and enabled it to provide more comprehensive services to its clients across the spectrum of law firms and legal departments.
Elevate opens first European office in London to expand partnerships
In another strategic growth move, Elevate opened its first European office in London in early 2019. The company stated the London location will facilitate collaboration opportunities across major European legal markets. Elevate also planned to open a new APAC office by the end of 2019, showing its global expansion ambitions.
Elevate positions itself at forefront of change as legal industry adopts more technology
The legal industry is gradually adopting new technologies to improve efficiency and access. As a pioneer in legal tech, Elevate views acquisitions like Halebury and its global expansion as part of its goal to drive change in the legal services industry. Its suite of offerings – including enterprise legal management, contract lifecycle management, and business process automation – provide tech-enabled solutions to law firms and legal departments.
In 2019, legal tech company Elevate raised $200 million from private equity firm K1 Investment Management. Elevate provides law firms and legal departments with tech products to manage legal operations. The funds supported growth plans including the Halebury acquisition, new product research and development, and potential public listing preparations.