H.I.G. Capital News
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H.I.G. Growth Partners Participates in Everlaw’s $202M Series D Round to Fuel Ediscovery Transformation
SAN FRANCISCO – November 2, 2021 – H.I.G. Growth Partners (“H.I.G. Growth”), the dedicated growth capital investment affiliate of H.I.G. Capital, is pleased to announce that is has participated in a $202 million Series D funding round for Everlaw (the “Company”), a cloud-native investigation and litigation platform. H.I.G. Growth invested alongside TPG and existing investors CapitalG, Menlo Ventures, Andreessen Horowitz and K9 Ventures.
Everlaw is used by 91 of the Am Law 200, as well as the attorneys general in all 50 U.S. states. Total cases on Everlaw’s platform have more than doubled since the Company’s Series C raise in March 2020 as the Company signed significant new contracts with corporations and government agencies. During that same period, Everlaw saw case volumes grow over 4x at Am Law 100 firms. Other new customer contracts include the Colorado State Attorney General and corporations such as Lime, Snowflake and Coca-Cola Europe.
Everlaw also continues to recognize the legal industry's top priority: protecting client data. Earlier this year, the Company became one of the first ediscovery platforms to achieve FedRAMP moderate certification delivered on Amazon Web Services GovCloud (U.S.), with sponsorship from the U.S. Department of Justice — paving the way for all U.S. government agencies to move ediscovery to its highly secure cloud environment.
In a market expected to reach almost $13 billion by 2025, Everlaw is leading innovation by meeting legal teams where their needs are located. Just this year, Everlaw launched Storybuilder by Everlaw, the industry’s first no-cost case preparation software, delivering a fully collaborative environment to build case strategy. Other key innovations include Slack and Microsoft Office 365 connectors, which allow for rapid ingestion and review of data on those platforms, and a legal holds tool to assist with defensible preservation of evidence.
With AI-powered and cloud-supported technology, Everlaw is revolutionizing the way law firms, government agencies and corporate legal departments handle internal investigations, ediscovery and case preparation. Its platform is built for collaboration from anywhere on tasks central to the successful practice of litigation and investigation. Legal professionals prefer Everlaw, with more than 220 five-star ratings on G2, more than any other ediscovery provider.
“The legal industry has undergone a decade’s worth of technological change in just 18 months. Legal professionals need tools that can keep up with the pace of collaboration without sacrificing security,” said Everlaw CEO and Founder AJ Shankar. “We’re proud of what we’ve accomplished, but we’re not resting on our laurels. This investment is part of a thoughtful and well-paced strategy for global growth, enabling us to support our customers, people, and programs, including go-to-market efforts, channel partnerships, and product innovation.”
“The shift to the cloud and exponential growth in discoverable data makes it next to impossible for existing legacy solutions to scale. Everlaw’s collaborative cloud-based ediscovery software enables customers to discover important information, illuminate critical insights and empower litigation teams to deliver the best outcomes for clients,” said Scott Hilleboe, Managing Director of H.I.G. Growth Partners. “Everlaw’s product is unmatched in the industry and the team is laser-focused on delivering an exceptional customer experience. We could not be happier to be partners with the Everlaw team on their journey.”
Everlaw blends cutting-edge technology with modern design to help government entities, law firms and corporations solve the toughest problems in the legal industry. Everlaw is used by Fortune 100 corporate counsels and household brands such as Hilton and Dick’s Sporting Goods, 76 out of the AM Law 100 and all 50 U.S. state attorneys general. Based in Oakland, California, Everlaw is funded by top-tier investors, including TPG, CapitalG, Menlo Ventures, Andreessen Horowitz, H.I.G. Growth Partners and K9 Ventures.
Learn more at https://www.everlaw.com.
About H.I.G. Growth Partners
H.I.G. Growth Partners is the dedicated growth capital investment affiliate of H.I.G. Capital, a leading global alternative investment firm with over $45 billion of equity capital under management.* H.I.G. Growth seeks to make both majority and minority investments in strong, growth-oriented businesses located throughout North America, Europe and Latin America. H.I.G. Growth Partners considers investments across all industries but focuses on certain high-growth sectors where it has extensive in-house expertise such as technology, healthcare, internet and media, consumer products and technology-enabled financial and business services. H.I.G. Growth strives to work closely with its management teams to serve as an experienced resource, providing broad-based strategic, operational, recruiting, and financial management services from a vast in-house team and a substantial network of third-party relationships. For more information, please refer to the H.I.G. website at www.HIGgrowth.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.