Bessemer acquires legal tech company Litify

• Litify’s clients include Salesforce and Morgan & Morgan
• Goodwin Procter LLP represented Bessemer in the transaction, and Pryor Cashman represented Litify
• Currently, Bessemer has more than $20 billion of assets under management

Bessemer Venture Partners has acquired a majority stake in Litify, developer of a law practice management platform. No financial terms were disclosed.

In addition to the transaction, Bessemer Partner Brian Feinstein will serve as chairman of Litify’s board of directors.

Litify, based in Brooklyn, New York, previously raised $50 million in debt and equity at a pre-money valuation at $170 million in June 2019 in a Series A round led by Tiger Global Management, according to PitchBook. Following the Bessemer buyout, Tiger Global remains a minority investor in the company, according to a report by LawSites.

“Litify stands out as the legal technology player that is uniquely positioned to transform legal business operations at its core,” Feinstein said in a statement. “I’m excited to lend my expertise to Litify customers at a time when demands on legal service providers are increasing.”

Since being founded by John Morgan and Reuven Moskowitz in 2016, Litify has grown to service over 45,000 legal professionals that include clients such as Salesforce, and injury law firm Morgan & Morgan.

Goodwin Procter LLP represented Bessemer in the transaction, and Litify was represented by Pryor Cashman.

Currently, Bessemer has more than $20 billion of assets under management. The venture firm is headquartered in San Francisco.