created October 2021
Helping lawyers focus on what matters
Based in Chicago, New York and London, Litera is a leading provider of software for drafting, proofreading, comparing, repairing and cleaning documents in the legal and life sciences industries worldwide.
Litera’s core products empower users to generate, review and distribute high-quality content quickly and securely, from any device.
Today, Litera supports thousands of document-intensive organizations across the globe, helping them satisfy the complex demands of clients and regulators.
Hg’s view of Legal Tech
Hg has been investing in technology for the legal profession for 15 years. Law firms haven’t typically been in the forefront of innovation but Hg believes there is a significant role for technology and software to help them become more productive and better serve their clients. We think we are in the very early years of a long-term secular opportunity to drive greater adoption with better software.
In addition, law firms’ IT decision makers are collegiate group, who place significant importance on working with trusted vendors; providers who deliver great service can become widely known in a short timeframe.
Creating the world’s most comprehensive provider of law firm software
Hg believes that Litera has the potential to become the only front-office software platform a law firm will ever need.
Expanding out of drafting and into new areas, ensures that customers can rely on a single unified solution to simplify their lives, reduce their total costs and create operational efficiency for their IT departments: all available from the user’s Microsoft Word ribbon.
Litera has also proven itself to be a platform for legal software consolidation, with the aim of offering a better value proposition to customers.
Large whitespace opportunities remain as Litera’s newer products benefit from a ‘first mover’ advantage in nascent, growing segments. Hg continues to work with Litera to develop and manage the product portfolio based on revenue potential and applying best-of-both product development for complementary products from acquisitions.
Upsell & cross-sell
By scaling the sales organization and sales operations, Litera can unlock synergies by cross-selling an increasing product set into the overall customer base. This has been optimized by bolstering the sales team and embedding leading operating practices with focus on key account management for enterprise law firms and a re-organization around product divisions.
Footprint expansion and M&A
Hg has helped build out Litera’s international expansion, leveraging Workshare’s footprint in the UK, DocsCorp’s footprint in Australia, and other international acquisitions, also including Clocktimizer in the Netherlands.
Transaction management (+AI)
Hg worked closely with the Litera team to identify Doxly (2019) and Kira (2021), amongst a list of transformative partnership opportunities who help turn a chaotic process of managing legal transactions into a streamlined, efficient processes – adding an important piece to the ever-growing puzzle of streamlining the legal process. Kira also brings advanced machine learning workflows into Litera’s Transaction Management platform for the first time.
In 2021 Litera formed the new Litera Firm Intelligence business unit, acquiring Foundation Software Group, developer of firm intelligence platform for law firms, helping lawyers improve client service and win new business. Litera has since added new offerings with the acquisition of Concep and Objective Manager.
In 2020, Litera added case management to its growing list of capabilities. Allegory is a modern, cloud-based litigation platform designed for complex, document-intensive litigation. It brings together all the relevant information that a litigation team needs to prepare a case.