Legaltech startup Legistify has raised $4 Mn in Series A funding round as it is eying global expansion.
The round saw participation from existing investors like Indiamart, Titan VC, GSF, US-based Cathexis Ventures, Justin Hamilton, and Japan-based Enrission group.
Legistify was founded by Akshat Singhal in December 2014. It provides a comprehensive LegisTrak to simplify legal operations for enterprises and help them manage their legal contracts, cases, IP and provide powerful data insights for effective decision-making.
With the fresh funds, the startup will focus on product innovation, international business expansion and strengthening customer base in the country. A large chunk of its funds will be used for LegisTrak 2.0, its newly launched platform, which helps simplify legal operations for enterprises.
LegisTrak 2.0 helps companies leverage its SaaS solution to streamline contract management, centralise matter management and enforce IP protection effectively.
“The investors’ support and guidance propels us towards the mission of empowering our customers while adding significant value to our country’s economic growth. These resources will help us in extending our innovative legal operations solutions to new markets along with helping companies leverage our technology to make effective decisions,” Akshat Singhal, founder & CEO of Legistify, said.
The legal tech startup claims to have over 300 large enterprises as its customers, including Decathlon, Dabur, Coca Cola.
The startup has raised over $5 Mn to date and counts Y Combinator, Cathexis Ventures, Titan Capital, Indiamart and GSF, as its investors.
Last year, India and Silicon Valley-based legaltech startup Oddr raised $2 Mn in its seed funding round led by Saama Capital and Twin Ventures.
According to a report, the global legaltech market, which was pegged at $713 Bn in 2020, is likely to grow into a $908 Bn sector in 2025. The segment will grow at a CAGR of 4.9% by 2025.
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