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Immediation receives further $5m in funding
Immediation has received another $5 million injection, bringing its total funding to $8.5 million in less than a year.
Lauren Croft
This funding follows the completion of three global partnerships for the digital dispute resolution provider and is part of its global expansion strategy.
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The $5 million in further funding is from a consortium of institutional and private investors, managed by Euroz Hartleys. This comprised the second tranche of an $8.5 million raising. Immediation has now secured four institutional investors on its register, including Thorney Technologies, SG Hiscock, Wunala Capital, and Perennial Private Investments, the private capital business of major Australian investment management company Perennial Partners.
The capital will be used to continue the company’s expansion into the US and Europe, Middle East and Africa (EMEA) markets — and grow its global sales force to meet the growing demand for its purpose-built legal technology.
“To secure this new funding in this market is a huge endorsement of our rapid expansion into new markets, leading technology and business plan,” said Laura Keily, founder and chief executive of Immediation.
Over the past six months, Immediation has launched operations in the US, UK, and Asia and sealed global partnerships with legal brands, including the International Institute for Conflict Prevention & Resolution, alternative dispute resolution complex Maxwell Chambers, and Clio, the world’s leading provider of cloud-based legal technology.
Immediation has raised a total of $19 million in investment and grant funding since March 2017.
