DealCloud and Intapp were recently featured in a Business Insider article titled: “Companies are trying to get a piece of the legal tech market as tools like esigning become the norm. Here are 21 startups that Docusign and others have poured money into over the last few years.”
In this article, co-written by Yoonji Han and Samantha Stokes, several market-moving trends were observed:
- Investments in and acquisitions of legal tech startups are on the rise as law firms, in-house general counsel, and clients seek more efficient ways to do business.
- Also fueling the growth of the legal tech market is the mounting competition from professional services firms like the Big Four accounting firms.
- VC investors have been focusing on legal tech for years, but as companies move into the later stages, a successful startup might be snapped up by “strategics,” larger companies like DocuSign, Mitratech, or Clio, that are looking to get in on the action.
DealCloud’s co-founder and President of the Financial Services division of Intapp was featured in the list of 21 companies, seen below:
- Acquired by: Intapp, a firm management platform, in August 2018
- Acquisition amount: Undisclosed
- What it does: Provides cloud-based M&A deal management and client relationship management (CRM) software for investment banks and private capital firms. The acquisition allows Intapp to expand their legal tech offerings to financial institution clients.