Hg has made a further substantial investment in Litera in order to help it expand into new areas and new geographies. The latest investment from the Hg Trust – which represents a fraction of the overall sum – is £28.2m. The precise terms of this transaction have not been disclosed.
It follows an intense run of acquisitions – Litera has acquired 12 companies since 2019, including, most recently, Kira Systems. It now has approaching more than 1,000 employees across 17 different countries.
In a statement, Avaneesh Marwaha, Litera CEO, said: “The last two years have seen Litera treble in size, serving many thousands of customers with more solutions and in more geographies. The velocity and complexity of this expansion has been made possible by an incredible team at Litera combined with a fantastic relationship with Hg, whose knowledge and impressive network in legal tech has presented numerous opportunities for the business. We are delighted that Hg is committing further investment into the business to provide Litera even more firepower to enable us to continue this trajectory for many years to come.”
The new investment will give Litera further firepower to expand. In 2021 it acquired Kira, Concep, Objective Manager, Clocktimizer, and Foundation Software Group.
Hector Guinness, a director at Hg, said: “Litera has grown significantly in the time since we have backed the business, but we are just getting started. There remains enormous long term opportunity to support productivity improvement in law firms with modern software, and Litera’s position as the ‘Vendor of Choice’ for law firm CIOs, their highly talented team and well invested products make Litera remains ideal platform to continue to support this theme for the long term. At Hg we value long-term relationships where we can build true, scaled platforms that are champions in their sectors. We see this potential in Litera and we excited for what we can achieve together.”