Legaltech scale-up raises £6m to fuel expansion
Posted on August 3, 2020 by Alistair Hardaker
Legal technology business Clarilis has raised a further £6m in investment.
The provider of automated drafting technology offer a platform designed to automate complex suites of precedents, such as Share Purchase and Facility Agreement suites with many ancillaries, many parties and complex underlying deal structures.
The Leamington Spa company says its platform saves significant amounts of lawyer time whilst ensuring that law firms and in-house legal departments draft high-quality documentation.
Clarilis was co-founded by brothers James Quinn, a former solicitor, and Kevin Quinn, the technical architect of the firm’s platform and former lead developer.
Since launching to the market in 2015 the business now boasts a blue-chip client base including Addleshaw Goddard, Baker McKenzie, National Grid and Slaughter and May.
The Series B funding has come from its existing investor the Northern Venture Capital Trust Funds (VCTs) which are managed by Mercia, and Gresham House Ventures, investing on behalf of the Baronsmead VCTs.
The funding raised in this round will be used to support the firm’s ongoing growth and international expansion.
James Quinn, CEO and co-founder of Clarilis said of the new funds: “This investment will provide the resources required to bring significant enhancements to our platform and to further scale the Clarilis team both in the UK and abroad.
“The uniqueness of Clarilis’ intelligent drafting platform and managed service is resonating with organisations globally – particularly as current market conditions highlight the importance of technology that can provide a strategic advantage.”