Elevate, a Los Angeles, CA-based law company, secured a $25m minority investment from Kayne Partners.
In conjunction with the funding, Leon Chen, Partner, Kayne Partner Funds, has joined Elevate’s Board of Directors.
The company intends to use the funds to scale operations and bring new and innovative solutions to the legal sector.
Led by Founder and Executive Chairman Liam Brown, Elevate is a global law company, providing consulting, technology (including enterprise legal management software) and services to law departments and law firms. The company, which has 2019 sales forecasted to exceed $75m, recently acquired:
- legal AI technology and consultancy LexPredict,
- contract lifecycle management (CLM) provider Sumati Group,
- UK NewLaw legal resourcing firm Halebury,
- law company Yerra Solutions, and
- Hong Kong-based flexible legal resourcing business Cognatio Law.
The acquisitions were funded in part by $25m financing from a credit fund managed by Morgan Stanley Expansion Capital, the growth-focused private investment platform within Morgan Stanley Investment Management.