Zapproved Inc., the market leader in cloud-based e-discovery software for corporate legal departments, today announced that the company has received a strategic investment from Vista Equity Partners ("Vista") to accelerate their growth in the e-discovery software market.
Vista is a leading private equity firm that invests in software, data and technology companies. The partnership with Zapproved is the first from Vista's newly launched Endeavor Fund, which focuses exclusively on enterprise software and data businesses under $30 million in revenue. Vista offers these companies and their management teams the financial capital, expertise and support to build an operational foundation for sustainable growth while maintaining and advancing their market leadership.
"Zapproved has been at the forefront of providing software to in-house legal teams to help them take control of their litigation response and electronic discovery," said Zapproved CEO and founder Monica Enand. "Our customers require the sophistication of a modern, secure, and intuitive solution that frees up dependence on law firms and IT. When considering multiple investors, our strategic partnership with Vista was the clear choice. Vista offers the operational expertise to build on our momentum in the market and proactively anticipate the increasing demands of today's corporate legal departments."
Enand and the Zapproved team will work with Vista to boost Zapproved's development pace and expand the team to serve a rapidly growing customer base of corporate legal departments. With a roster of nearly 300 corporate and federal legal teams and world-class customer retention rates, Zapproved will continue to focus on its mission to provide a secure, cloud-based software platform to modernize corporate e-discovery.
"Zapproved is well-poised to meet the challenges of the future for the corporate legal department," said René Yang, principal at Vista Equity Partners and co-head of the Endeavor Fund. "Their incredible record of customer satisfaction and retention, strong leadership team and culture, and history of high growth position them as the leading solution in an evolving marketplace. We look forward to partnering with the Zapproved team to provide corporate legal teams the power, control, flexibility, and ongoing innovation they require."
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