Calgary-based Athennian, a provider of cloud-based legal entity management software, has secured C$8 million in a Series A financing. The round was led by Arthur Ventures. New investors Round13 Capital, InterGen Capital, ATB Financial also participated, as did existing investors Thin Air Labs, BlueSky Equities, Viewpoint Capital and Strategic Equities.
CALGARY, CANADA – 8 September 2020 – Athennian, developers of the leading cloud-based legal entity management software, emerged today, after 3 years of stealthy growth and product development, to reveal an $8 million Series A investment, led by Arthur Ventures, and a previously unannounced $2 million seed financing round from Q3 2019, bringing the total level of funding to $10 million.
Alongside, Arthur Ventures, whose General Partner, Patrick Meenan, has joined Athennian’s board, today’s funding round is supported by Round13 Capital, InterGen Capital, ATB Financial, and existing investors: Thin Air Labs, BlueSky Equities, Viewpoint Capital, Strategic Equities, and others.
Athennian’s software is used by legal departments and professional services firms to automate subsidiary and entity management. The funds will be used to accelerate product-led growth and invest in scaling Athennian’s cloud infrastructure to support its growing global customer base.
“The legal entity management market has very high barriers to entry that protected on-premise incumbents operating like monopolies for decades. Athennian brings the first, true enterprise cloud platform with consumer-grade user experiences into the category,” said Adrian Camara, CEO of Athennian. “Our revenue acceleration reflects the hard work our team and customers have undertaken to transition that data and workload into the cloud.”
Legal entity management software has historically been used to centralize director, officer, shareholder, tax, and other entity data to create a single source of truth. To add efficiency, Athennian integrates document generation, eSignatures, e-filing, and project management to automate workflows, such as entity formation, appointments, transactions, and annual compliance.
Andre Garber, Partner at Fasken, comments: “We have used Athennian to digitally augment our corporate legal practice. We are now automating traditionally manual work, such as entity formation, stock transactions and corporate records management through Athennian’s document assembly, eSignature, and streamlined data management platform.”
Patrick Meenan of Arthur Ventures adds: “Businesses are operating in an increasingly volatile, uncertain and complex environment. As a result, in-house legal teams and paralegals have seen their workloads increase dramatically, driving a need for more automation. Athennian’s rapid growth is a testament to their market-leading product. Arthur Ventures is thrilled to lead this financing round.”
James Lochrie, Athennian board member and co-founder of Wave Financial, which was recently acquired by H&R Block, concludes: “Athennian is aggregating supply and demand for corporate legal and governance services in one platform. Very rarely do we get opportunities like this in technology. When we do, they become massively important companies. Athennian is on track to completely re-engineer how business entities lifecycles are managed globally.”
Built for paralegals, by paralegals, Athennian is the leading legal entity management cloud platform, used by the world’s top law firms and legal departments. Designed to empower paralegals by automating entity management workflows, Athennian’s fast, cloud-based solution offers a level of functionality and ease-of-use unrivaled in the entity management space. With a team of legal professionals and certified paralegals running their operations, Athennian has developed software specifically built to help paralegals, law clerks, and corporate secretaries succeed.
Athennian’s platform leverages data to execute reports and tax charts; generates required documents for managing new or existing entities such as share certificates, minutes, stock and dividend transactions, and change of directors or officers; submits registrations digitally; provides reminders for annual filings; and automates workflows with document assembly, eSignature, and e-filing directly with government company registries. By streamlining numerous corporate legal workflows, Athennian’s solution offers efficiency to high-performing paralegal teams, allowing them to spend less time managing paperwork and more time supporting clients.
Athennian offers rapid migration for customers from any legacy database including, Diligent Entities (Blueprint), GEMS, Secretariat, hCue, Effacts, Viewpoint, ALF, CorpLink, EnAct, GlobalAct, EnGlobe, FastCompany, Corporate Focus, and more.