Litify Blog

Litify Secures $5 Million in New Funding, Continues Rapid Growth

by: Litify

February 17, 2017

Less than a year after launching, Litify has already disrupted the legal industry by transforming hundreds of law firms into modern, high-performing businesses.

We look to build on our strong early growth in 2017, and to that end are pleased to announce a $5 million funding round from Fortress Investment Group, LLC that will help us make Litify’s best-in-class legal software solutions even better.

Built on the platform, Litify’s software is designed to give law firms greater insights and transparency into their operations and to improve operational efficiency. With Litify, lawyers spend less time on organizational tasks and more time on the practice of law.

“Current legal software is either not malleable enough or is built on very old technology,” explains Litify Chief Product Officer Steven Mandel. “Litify is the first truly customizable enterprise-grade cloud software available on the legal market.”

Law Firms Facing Market Pressures

Relatively soft legal services demand coupled with more practicing lawyers is creating an increasingly competitive legal services market that’s forcing law firms to improve efficiencies.

Firms have responded in a variety of ways to these market forces, including outsourcing legal tasks, altering client fee structures, and cutting back on staff.

But many firms have overlooked technology as a way to shore up inefficiencies and increase productivity. Using technology such as cloud apps, mobile functionality, social collaboration, and smart web tools, Litify allows firms to seamlessly incorporate project management principles and bring a business mindset to their daily operations.

In the same way that companies like Uber and Amazon used technology to disrupt the transportation and retail industries, Litify is a tool for disrupting the legal industry.

“Although they may have embraced technology to some extent in their marketing efforts, many firms continue to take the approach of, ‘if it’s not broken, don’t fix it,’ when it comes to managing their day-to-day functions,” says Litify Chief Technology Officer (CTO) Ryan Hallman. “But as more and more firms reap the benefits of incorporating legal technologies into their practice, firms that do not follow suit will be at a real disadvantage.”

From customer relationship management (CRM) and marketing automation functionalities, to referrals, intakes, reporting, and finance, Litify is designed to help firms stay relevant in an industry with a growing need to consistently generate ROI from accounts. Our data-driven software has some truly unique features that help us stand out from the competition, including unlimited extensibility via the Salesforce app, dynamic questionnaires, and a referral app to streamline your business.

“Our mission is to provide transparency and the ability to deliver a consistent, predictable client experience,” says Mandel. “We will both provide better outcomes to clients and allow law firms to be more efficient and increase profits, by saving time on automated tasks, signing more cases, and generating more revenue per case.”

Business Technology for the 21st Century Law Firm

Litify is focused on product enhancements, including stepped-up customer support and more fine-tuned software. Partnering with Fortress gives Litify the capital needed to continue to deliver best-in-class legal technology solutions and to spread our vision of business technology for the 21st-century law firm. To see Litify in action, schedule a free demo.

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