Athennian, developers of the leading cloud-based legal entity management software, today announced it has raised $7 million CAD in Series A extension funding, led by Arthur Ventures.
New investors Touchdown Ventures and Clio CEO, Jack Newton, also participated in the round, alongside Round13 Capital and other existing investors.
Athennian, which is used by legal departments and professional services firms to automate subsidiary and entity management, and transform compliance, governance, and transactional workflows, will use the capital to increase the size of its global team, invest in product development, and expand its cloud-based services. To date, Athennian has raised $17 million CAD in venture capital financing.
“Companies clearly see the value in managing their entity management processes on our platform, so when our investors approached us with the possibility of raising more funding, we decided to accelerate our plans and invest significantly in supporting Athennian’s growth,” said Adrian Camara, CEO of Athennian. “We are excited to welcome Touchdown Ventures and Jack Newton as investors. This additional capital reflects our rapid expansion of both revenue and results for our customers.”
Camara continues: "This additional capital reflects Athennian's position as the leading legal entity management software cloud. Law firms and legal departments need innovation from well capitalized vendors, who can support the required investment in cyber security, data integrity and availability."
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