Litify, a Salesforce CRM for the Legal industry, acquires e-Billing vendor, LegalStratus

Litify is the CRM for Legal built on top of Salesforce and today, they announced an acquisition of a small e-Billing platform also built natively on top of Salesforce - LegalStratus.

November 6, 2022

Native ISVs combine to build CRM solution for the Legal Services industry

Litify was founded in 2016 and Headquartered out of Brooklyn, NY. Over the last 5 years, they have raised a total of $58m with the most recent fundraising coming through a $50m Round from Tiger Global Management.

In the Salesforce ecosystem, it can be expensive and challenging to customize the CRM application to meet the unique needs of your industry so vendors have begun launching to meet those unique needs. Litify is one of the few platforms built entirely for the Legal Services industry, offering an all-in-one solution that enables Law Firms to manage and assign cases, track clients, measure attorney billable hours, securely store legal documents, and more.

Other examples of native industry solutions include Veeva Systems (Pharmaceuticals / Life Sciences) and nCino (Financial Services), both of which are now multi-billion dollar, publicly traded companies.

The Litify solution is built on top of the Salesforce platform, which offers customers a tool that is 80% of the way to serving the unique needs of their law firm and providing a platform in Salesforce that is flexible and cost effective to configure for the final 20%.

LegalStratus offers a similar solution for case management, spend tracking & reporting, analytics, and billing.

Based out of New York, LegalStratus doesn't appear to have taken outside funding and grew on a slower trajectory, sitting around 5 employees at the time of acquisition.

You can see full details on the press release here.

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