Litify, Inc.

Litify, Inc. , based in the US, provides a legal operations platform that enhances efficiency for law firms and corporate legal departments, enabling better financial management and streamlined processes. Litify, Inc. specializes in legal management solutions.

Founded in 2016 and headquartered in Brooklyn, US, the company was co-founded by Reuven Moskowitz and Steven Mandel. The latest funding round was a SERIES A, raising USD 39. 99 mn, led by Tiger Global Management, contributing to a total amount raised of USD 39. 99 mn and a current valuation of USD 181.

056 mn. The company has completed 4 deals, with the most recent deal dated February 9, 2023. Litify offers a comprehensive legal management platform designed to empower law firms and corporate legal departments by enhancing operational efficiency and effectiveness. The core product includes features for budget tracking down to specific matters, vendors, or UTBMS codes, alongside customizable approval processes for internal staff and outside counsel.

Additionally, the platform incorporates dynamic invoice discounting to incentivize timely payments and streamline financial management. Litify is utilized across various legal practice areas, including personal injury, insurance defense, immigration, and corporate legal functions, serving both high-volume individual clients and enterprise-level legal departments. The platform operates across multiple geographical markets, including North America and Europe, catering to a diverse client base that spans law firms and corporate legal teams. Litify generates revenue primarily through subscription-based pricing for its legal management platform, targeting law firms and corporate legal departments.

Clients subscribe to the platform for comprehensive access to its features, which include workflows, automation, and real-time reporting capabilities designed to drive business improvements. Clients can engage in annual or multi-year contracts based on their specific needs and scale of operations. The company’s revenue is bolstered by its flagship offerings, which are tailored for high-volume legal practices and enterprise legal departments. Such pricing plans are structured to reflect the extensive capabilities of the Litify platform, ensuring that both small and large firms can leverage its benefits effectively.

In February 2023, Bessemer Venture Partners acquired Litify Inc. from Fortress Investment Group and Tiger Global Management. The acquisition supports the company's next phase of growth. Future plans include the development of new products designed to enhance platform functionalities and streamline user experiences, although no specific release dates are available.

Additionally, Litify aims to expand its market presence further into Europe and potentially into Asia by the end of 2024, using the recent funding to support these initiatives.