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Bessemer Venture Partners Acquires Majority Stake in Litify as Legal Tech Company Achieves Profitability

28 February 2023
2 min.
Bessemer Venture Partners Acquires Majority Stake in Litify as Legal Tech Company Achieves Profitability

Litify, the best-in-class end-to-end legal operating platform, announced today that Bessemer Venture Partners has acquired a majority stake in the company as it achieves profitability and continues its next phase of growth. With the backing of leading institutional investor Bessemer, Litify plans to bolster its unique market position as the only secure and open platform built to centralize legal business operations and drive efficiency for growth-minded law firm and corporate legal departments.

Bessemer Partner Brian Feinstein will serve as Chairman of Litify’s Board of Directors. He brings 15 years of business and vertical SaaS expertise to the company’s strategies and operations. Bessemer has a long history of investing in industry-defining software companies including Procore, ServiceTitan, Shopify, Toast, nCino, and Vlocity. The firm has a successful track record of helping to grow cutting-edge legal technology companies including Clio, Disco, and Anaqua.

“Litify stands out as the legal technology player that is uniquely positioned to transform legal business operations at its core,” Feinstein said. “I’m excited to lend my expertise to Litify customers at a time when demands on legal service providers are increasing.”

Since being founded by John Morgan and Reuven Moskowitz in 2016, Litify has grown to service over 45,000 legal professionals globally, including iconic clients such as Salesforce, and Morgan & Morgan, America’s largest injury law firm.

“We are grateful for this exciting milestone and thrilled to see our company take this exciting next step with Bessemer,” said Litify Founders John Morgan and Reuven Moskowitz. “We are thankful to our investors, incredibly proud of our team, and we are looking forward to Brian’s leadership as they accelerate Litify’s growth.”

Goodwin Procter LLP represented Bessemer in the transaction, and Litify was represented by Pryor Cashman.

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