LawVu secures another NZ$19.5m from VC firms
Following the raising of NZ$17 million in August of last year from Insight Partners and AirTree, the two investors have doubled down on their support for LawVu with a further cash injection.
Just over six months ago, New York-based venture capital firm Insight Partners and Australian VC firm AirTree led a Series A funding round for LawVu, with Insight managing director Rachel Geller saying that LawVu’s global growth “speaks volumes to its future as a business and ability to provide high-value outcomes to legal teams”.
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“Its combination of intuitive user experience and excellent customer feedback make LawVu a stand out in the legal tech industry,” she proclaimed.
At that time, NZ$17 million was raised to help strengthen the start-up’s position as a market leader for in-house teams.
Now, the two VC firms have doubled down on their support for LawVu, with an additional NZ$19.5 million being raised in an extended Series A funding round. This new injection of cash brings the start-up’s total funding, to date, to approximately NZ$45 million.
In a statement, LawVu said that the additional investment would be used to build out the team, enrich the platform, and enhance the customer experience.
“This will help meet growing demand in more than 30 countries around the globe, including Australia, the United States and United Kingdom, further strengthening LawVu’s position as a leading platform for in-house legal teams in the $50 billion legal tech market,” it submitted.
LawVu co-founder and chief product officer Tim Boyne said: “Over the past year we’ve seen uptake of our unique offering accelerating across the globe, with our strong pipeline of customers increasing at a rapid pace. We’re focused on building our world-class team both in New Zealand and globally, so that we can see more in-house legal teams do their best work on our innovative platform.
“This additional support from our existing investors shows tremendous confidence in our traction, our team and our vision. It enables us to accelerate our international expansion, and meet the ever-growing needs of our customers in each region.”
Ms Geller added: “From day one, we recognised LawVu’s potential for high-growth and global expansion as they were offering a disruptive solution to the legal industry and its traditional ways of working.
“We’re thrilled to be strengthening our commitment to LawVu as it continues to provide a best-in-class experience for in-house legal teams globally. We look forward to our partnership as they continue to scale up.”
Elsewhere, AirTree partner James Cameron said that “LawVu’s mission to streamline the legal environment is critical for in-house legal teams managing business complexities in a fast-paced world. When we’re lucky enough to have an inside view to see a company outperform in the way LawVu has, it’s an easy decision to double-down on our investment.”