Filevine, a Utah-based case management company founded in 2014 with an initial focus on litigation and personal injury law, has raised $108 million in a Series D funding round that it says will help fuel its expansion more deeply into big law, insurance defense, corporate, governmental, and nonprofit legal counsel teams.
The funding was led by StepStone Group, with additional funding from Golub Capital. Two prior investors, Signal Peak Ventures and Meritech Capital, also participated in this round.
“Having transformed legal work and business for private practices, we’re excited to further expand within corporate, governmental, and nonprofit counsel teams that face the same work challenges but support their organizations differently,” said Ryan Anderson, the former litigator who cofounded Filevine and is its CEO. “We’re taking on this growth opportunity with new executives and a seasoned group of leaders who continue to awe our investors with their dedication and results.”
As it happens, I had visited Filevine’s office in Provo, Utah, on March 12, 2020, just as the pandemic was breaking out, and just as Filevine was preparing to announce its first acquisition, of Lead Docket, a lead tracking and intake management product. A year later, it acquired Outlaw, a contract and document editing platform.
Since then, Filevine says, as the pandemic forced remote work upon the legal industry and greater demand for technology solutions to manage legal work, its business has grown substantially.
Over the last two years, Filevine says, it achieved 198% growth in annual recurring revenue (ARR) while maintaining a customer net retention rate of over 130%. In 2021 alone, Filevine signed 708 new customers across the legal market. Since acquiring Outlaw, Filevine has grown its ARR by 400%.
It also won several honors last year, including “Overall Case Management Company of the Year” from the Legal Tech Breakthrough Awards and “Best SaaS for Productivity” in the 2021 SaaS Awards.
Also last year, Filevine expanded its workforce by 370 employees, and since 2020 has made three hires of key executives: Ian Charles as chief financial officer, Scott Brown as chief technology officer, and Jen Gray, SVP of marketing & corporate strategy.