At its first-ever customer conference today, the practice management company MyCase announced that it has acquired the cloud-based legal accounting company Soluno, and that it will leverage Soluno’s expertise to develop full-featured accounting natively within the MyCase platform.
The company also announced the launch of MyCase Drive, which syncs a lawyer’s documents between MyCase and the desktop, allowing users to find, organize and manage documents using their computer’s file explorer and search capabilities.
News today of Soluno’s acquisition comes after this blog broke the news in July that MyCase had acquired CASEpeer, a case management platform for plaintiffs’ attorneys, and Woodpecker, which provides legal document automation software for solo and small law firms.
MyCase also today announced the release of the MyCase 2021 Legal Industry Report: Lessons Learned from the Pandemic, the company’s first industry report. The report examines how the pandemic impacted law firms, and the steps lawyers took to continue to grow their firms during this period.
All of this comes a year after MyCase was sold for $193 million to private equity firm Apax Partners, and 10 months after a new CEO was named to lead MyCase, Jim McGinnis.
In an exclusive interview for my LawNext podcast, McGinnis joins me to discuss the company’s recent acquisitions and what they mean for customers, share details on the company’s new products and product roadmap, and share his longer-term vision for the company.
Listen to the interview here:
McGinnis said that the three companies MyCase has acquired — Soluno for law firm accounting, CASEpeer for management of personal injury cases, and Woodpecker for document automation — will continue to operate as separate products and that their management teams and employees with remain.
Even before the acquisitions, CASEpeer and Soluno integrated with each other, as I reported here last year. MyCase said that Soluno has recently seen massive growth as law firms moved from legacy desktop accounting systems to the cloud.
“All of these companies provide exceptional technologies for law firms, and each brings with it a strong leadership with a clear vision for the future,” MyCase said. “We couldn’t be more excited about each of these acquisitions.”
MyCase Drive and Accounting
With regard to the native accounting functionality MyCase announced today, it said that it will be available in 2022, and will be a full-featured accounting program, including easy three-way reconciliation, developed by leveraging the expertise of the Soluno team.
MyCase Drive, available to customers now, is a complete desktop document management experience that syncs to MyCase, allowing firms to efficiently find and organize documents using their computer’s file explorer and advanced search capabilities, the company said.
As noted above, MyCase today also released the MyCase 2021 Legal Industry Report, the first industry report the company has issued.
The report provides the findings of a survey of over 2,000 legal professionals regarding their experiences and insights since the start of the pandemic. It looks at how the pandemic impacted law firms, the steps that lawyers took to sustain and grow their practices, and how their strategic decisions helped build the foundation for long-term sustainability.
The report can be downloaded free from MyCase.