Litify logo. Litify Sells Majority Stake in Practice Management Platform to VC Firm Bessemer
As part of the acquisition, Bessemer partner Brian Feinstein becomes the Chairman of Litify's Board of Directors and is tasked with guiding the company through continued growth and product development.
February 09, 2023 at 10:01 AM
3 minute read
Litify, a practice management platform provider for law firms and corporate legal departments, announced on Thursday, Feb. 9, that venture capital firm Bessemer Venture Partners has acquired a majority stake in the company. The acquisition was meant to help Litify "bolster its unique market position as the only secure and open platform built to centralize legal business operations and drive efficiency for growth-minded law firms and corporate legal departments," according to the press release. The financial details of the acquisition were not disclosed.
Ari Treuhaft, President and COO of Litify. Courtesy photo. Ari Treuhaft, president and COO of Litify, told Legaltech News he welcomed the arrangement with Bessemer because, "they know how to take businesses like ours, both in legal tech and vertical SaaS businesses, the distance, so … we're really excited about the next phase of our journey."
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