London-based legal tech startup Apperio has today secured $7m (£5.8m) in funding as it seeks to expand its business in both the UK and the US.
Founded in 2012 by Nicholas d’Adhemar, a former lawyer, Apperio provides legal spend analytics and matter-tracking software to law firms.
The company was born out of d’Adhemar’s own experience working in law, with the Apperio boss finding that his firm was regularly surprised at the size of incoming invoices and found it difficult to keep track of the fees associated with doing business.
Apperio’s software analyses the spending of law firms and provides a comprehensive view on a dashboard.
“We’re deeply grateful to our investors whose commitment has enabled Apperio to think differently about this enduring problem of transparency in the business of law,” said d’Adhemar.
“We’re looking forward to their continued collaboration in this next chapter as we build out our legal spend management software and strive to strengthen the relationship between corporate counsel and their law firms.”
The investment was led by Molten Ventures, with participation from Notion Capital, IQ Capital, Nextlaw Ventures, Volution, and Hambro Perks. The latest cash boost has brought the total funds raised by the company since its founding to $19.9m.
The startup previously raised £7.5m in its Series A funding round back in August 2018.