I'm incredibly excited to announce Bessemer Venture Partners as Litify's newest investor! By delivering value-add products to our customers, and with a lot of hard work, we're now ready for this next chapter. As Bessemer comes on as an investor, we aim to cement Litify’s position as the only secure and open platform to centralize legal business operations and drive efficiency for growth-minded law firms and corporate legal departments.
This is truly symbolic of the tremendous strides we’ve made as an industry toward transforming how we operate. Despite it being a very difficult market for raising capital right now, one of the country’s most sophisticated investors has just placed a large bet on us to help shape the technical landscape of legal. Our new partnership aims to further the industry’s move toward platformization, interoperability, and cloud-based digital transformation in our post-COVID environment.
As part of the investment, Bessemer Partner Brian Feinstein will serve as Chairman of Litify’s Board of Directors, bringing 15 years of business and vertical SaaS expertise to Litify’s strategies and operations. It has been great working with Brian so far, given his history in the legal technology and salesforce space. He understands our customers, and we've been off to a quick start in collaborating on a roadmap to continue to bring value to all legal service providers.
“Litify stands out as a legal technology player uniquely positioned to transform legal business operations at its core. I’m excited to lend my expertise to Litify customers at a time when demands on legal service providers are increasing.” Brian Feinstein, Partner, Bessemer
Together, we’re guiding Litify’s continued product development to support the entire legal ecosystem:
- Enterprise Legal Management: Last year, we saw 500% growth in our corporate legal business. As new clients go live on our Enterprise Legal Management Solution, we continue to uncover opportunities to have corporate legal teams up and running on Litify even faster and plan to expand the feature functionality of our eBilling solution.
- Client Portal: For our plaintiff law firm clients, we remain committed to delivering the innovative products you need to deliver an industry-leading client experience. This includes additional updates to our Client Portal, which enables you to streamline communication and share relevant case details with your clients, all within a seamless, branded digital experience. Modern consumers expect on-demand customer service, and Client Portal helps you meet your clients where they are — online.
- Time & Billing: For full service law firms, expect to see new releases within our integrated timekeeping and billing solution. This will help to further embed your time and billing processes within your team’s day-to-day case management workflows to help you capture more time and highlight value to your clients.
- Matter Plans for Specialty Practice Areas: Six years ago, Litify set out to standardize and automate the matter management workflows for personal injury law firms. As we’ve expanded our solutions to new verticals, we know that Litify excels in high-volume legal practice areas, such as immigration, insurance defense, and employment law. We’re eager to double down in those areas and bring efficient, specific matter plans to those workflows.
The entire world is reorienting itself around value – not projected value, but real value. Clients everywhere are evaluating where to invest their own budgets for technology or legal services in the coming year(s) based on that. I'm incredibly proud of our team’s success and am excited about the real value this partnership brings to our customers.