Litera Announces New Investment From Hg, Eyeing Even More M&A and Expansion
Litera has acquired 12 companies since 2019, with more are likely on the way after Hg invested an undisclosed amount into the company.
November 05, 2021 at 09:01 AM
3 minute read
Investments and Investment Advisory
Private equity funding continues to spread into legal tech: Litera Corp. announced Friday it secured an additional investment to accelerate hiring, product development and acquisitions.
Like many e-discovery software companies and other legal tech vendors, Litera didn't disclose financial details of its investment. However, Litera did note in its press release that previous investor Hg led this latest investment. Back in May 2019, Hg purchased Litera from investment firm K1 Investment Management. Hg also announced its HgCapital Trust would invest roughly 32.1 million pounds ($39 million) in Litera, alongside other institutional clients, through the Hg Genesis 8 Fund, according to a press release at the time.
The legal tech company aims to use its latest investment to accelerate hiring, internal product development and acquisitions, said Litera marketing senior vice president Gayle Nixon. "Expansion will be top of mind and using the investment for M&A, like we've done this year," she noted.
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