This is the second of our new “Almost-Raw Releases” series, designed to quickly get news of probable interest to the CodeX crowd. The press releases are slightly edited to trim for a faster read and to remove useless jargon.” —Monica Bay
Legal tech startup Allegory raises more than $500,000 from industry leaders; Bob Rowe joins the Board of Directors
(New York, March 7, 2017) Allegory, a cloud-based litigation technology startup, started by Gibson Dunn litigator Alma Asay in 2012, has exceeded its target of $500,000 in a funding round led by industry leaders. [M.B. note: Asay has been active in CodeX.]
Bob Rowe, formerly Executive Vice President at Huron Legal, which was acquired by Consilio for $112 million in 2015, led the round. He also joins Allegory’s Board of Directors.
“The next wave of technology and process improvements will be focused on the management and analysis of all evidence and work product generated in a matter or across a docket, not just the documents subject to the e-discovery process,” says Rowe.
“Rowe saw the promise of Allegory and understood both the challenges and opportunities of launching a startup in the legal sector, said Asay, founder and CEO.
Pangea3 founders David Perla and Sanjay Kamlani also invested in the round, as did Mike Suchsland, former President, Legal Business at Thomson Reuters; Jeroen Plink, former CEO of Practical Law Company U.S.; Karen Pordum, CEO and owner of Synergy Legal Staffing; and Rob Hill, founder of Synergy Legal Staffing.
Toronto-based Epstein Enterprises also invested, following an introduction by legal innovation leaders, Jason Moyse of Elevate Services and Aron Solomon of Law Made. (Law Made recently announced a $20 million early stage startup investment fund for new and emerging legal businesses.)
Allegory’s announcement comes during a period of growth for the company, which primarily has relied on revenue to support its business, having previously raised just under $1 million. Allegory saw 30% growth in revenue last year and has more than doubled in size. Allegory serves many of the top law firms in the country, counting Vault 10 BigLaw firms, Vault top boutique firms, as well as Fortune 500 companies, among its clients.
The company plans to use the additional funding to expand its reach and add more advanced functionality to its software, which it expects to roll out later this year.
Allegory is a cloud-based litigation platform built around the way litigation teams think and work. Allegory clients include Fortune 500 companies, Am Law 100 law firms, and litigation boutiques.” Allegory enables litigation teams to focus on lawyering and winning their cases, instead of organizing and tracking down information.
Read also: “Legal Tech Leaders Among Investors As Litigation Startup Allegory Raises $500K,” by Robert Ambrogi
Monica Bay is a CodeX Fellow and a freelance journalist and analyst. She is a member of the California bar. Email: email@example.com. Twitter: @MonicaBay.
Cover image: Clipart.com