10 January 2023
Legal tech scale-up Apperio raises $7m
Molten Ventures and Volution lead new Growth round
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We’re delighted to welcome leading legal spend management software firm, Apperio to our portfolio!
Apperio provides in-house counsel with a comprehensive view of its legal spending on a single dashboard, including analytics and real-time visibility, empowering them to effectively manage and optimise spend.
Apperio’s software is used by over 60 in-house legal teams, including Epiris, EQT, Network Rail, Royal London and Cornerstone, with over 250 global law firms connected to Apperio’s platform.
The round included both existing and new investors and was led by Molten Ventures (formerly Draper Esprit) and Volution, alongside Notion Capital IQ Capital, and Hambro Perks, who provided the Venture Debt. This brings the total funding raised by Apperio to $19.9m.
This growth round will enable Apperio to develop their product for corporate counsel, meet increased demand for new product functionality, and accelerate their expansion into the US.
Apperio Non-Executive Chairman David Eldridge commented “That Apperio closed on funding with both new and existing investors, in this environment, speaks volumes to the company’s unique position in the legal technology sector, the value the company is delivering to customers and the significant opportunities ahead.”
Founder and CEO Nicholas d’Adhemar added, “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. 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.”
Volution Partner Jonny Laughton said, “We are excited to join the current investors in supporting Apperio’s growth journey - in the UK and beyond. The business has seen strong traction in its core Private Equity and Corporate markets, as well as recent successes in new professional services verticals. We look forward to working with the team as they expand into the US market, delivering much-needed transparency and efficiency to in-house counsel and their law firms.”
You can read more about Apperio's round here.
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