Apperio, a London, UK-based provider of legal spend analytics and matter tracking software, raised $7m in growth funding.
The round, which brought the total funding Apperio has raised to date to $19.9m, was led by Molten Ventures with participation from Notion Capital, IQ Capital, Nextlaw Ventures, Volution and Hambro Perks, who provided venture debt.
The company intends to use the funds to further develop its product for corporate counsel and accelerate expansion to the U.S. market.
Led by Nicholas d’Adhemar, Chief Executive Officer, and David Eldridge, Non-Executive Chairman, Apperio provides in-house counsel with a comprehensive view of its legal spending on a single dashboard. Its legal spend management platform aggregates and analyses both historical and current legal spend, including law firm work-in-progress (WIP) / accruals and provides streamlined invoice approval workflow.
With Apperio, in-house lawyers and legal operations can see in real-time when the budget for a given legal matter meets a certain threshold. This enables them to initiate a conversation with their law firms about the course of legal work before it exceeds the budget.
Today, there are more than 250 global law firms connected to the platform.
FinSMEs
10/01/2023