Closd, SAS

Closd is a digital workspace platform that specializes in secure document management and collaboration for legal projects, aiming to enhance workflow efficiency for legal professionals and corporate teams. Founded in 2017 and headquartered in Paris, France, Closd operates as a next-generation data room platform that focuses on managing legal projects and facilitating secure document exchanges. The company has engaged in 2 deals, with the most recent funding round occurring in December 2021, raising EUR 0. 340 mn from investors such as Cuatrecasas Acelera, LPA-CGR, and Orion - Avocats & Conseils, bringing the total amount raised to EUR 0.

340 mn and evaluating the company at EUR 3. 006 mn. The founders of Closd are Bruno Thomas, Michele Bellagamba, and Nathaniel Merino. Closd operates as a next-generation data room platform, specializing in the management of legal projects and secure document exchanges.

Its primary offerings include a digital workspace that facilitates collaboration among clients and partners, enhances security for sensitive documents, and automates repetitive tasks. With features such as real-time project tracking, electronic signatures through integrations with technologies like DocuSign and Certeurope, and a tiered security system, Closd aims to simplify workflow for legal professionals, investment funds, and corporate legal departments. The platform is particularly beneficial for law firms, investment banks, and accounting firms requiring a robust system for managing confidential documents and facilitating legal transactions. Closd's solutions have been deployed in various geographical markets across Europe, particularly in France, where it emphasizes compliance with local digital preservation laws.

In the most recent year of 2023, Closd reported a revenue of EUR 2,207,066. 80 with an EBITDA of EUR -1,848,816. 80. The company generates revenue through a subscription-based model, where clients pay for access to its services based on their specific needs and the scale of their operations.

Closd's pricing structure accommodates various client segments, including law firms and corporate legal departments. By providing a secure environment for document sharing, contract management, and legal due diligence, Closd reinforces its value proposition and client loyalty. Following its acquisition by LexisNexis in December 2021, Closd plans to expand its product offerings and geographical reach. The company is currently developing new features aimed at enhancing functionality and user experience, with launch details pending.

Closd is targeting expansion into additional European markets and plans to leverage its recent funding of EUR 0. 340 mn to support these initiatives, although specific release dates and market timelines have not been disclosed.