Legal platform Legistify raises $500,000 in round led by Titan Capital

Indiamart, GSF Accelerator, Java Capital also participate in pre-Series A funding; early investors make a partial exit with 5x cash payout

Legistify, a leading tech-enabled, legal concierge platform, has raised $500,000 in a pre-Series A funding round led by Titan Capital, the personal fund of Snapdeal founders, Indiamart (Lead by Founder Dinesh Aggarwal), GSF Accelerator and Java Capital.

With this, founders of Legistify have a 5x cash payout for a partial stake sale of early investors, the company said in a press release. These include Ranjit Singh, Global COO & Board Member, Polyplex Corporation Ltd, Ishaan Jalan, Co-founder, Interweave Brands & Looma), Tushar Balsara, GoToMarket Lead, Google Marketing Platform, among others. They continue to hold minority stakes in the company, the press release said.

The freshly raised capital will be deployed to fund the expansion of services across geographies and towards the development of new products and services. Legistify is currently building a 'market network' for legal services, powered by its tech platform, through which it will be able to solve some of the major issues various companies are facing, such as right lawyer discovery, cost control, transparent management of work, and data driven insights. The idea is to disrupt a trust and human intuition-based industry, using effective technology solutions backed by efficient data management and analysis.

The release quoted Akshat Singhal, Founder and CEO, Legistify stating that the Indian legal services and tech market is estimated to be $5 billion and is growing rapidly. Legistify aims to capture 25 per cent market share in the next five years.

The company is looking to rapidly expand its product and services portfolio to gain market share. In line with this strategy, Legistify has recently introduced its flagship Enterprise Legal Management (ELM) solution, LegisTrak designed to empower in-house legal teams to excel in their core functions depending on their industry. Legistify’s holistic solutions cover all aspects of litigation, IPR, legal notices and legal contracts management.

The company, which has a network in over 300 cities, works with mid-market and large enterprises providing an enterprise legal management suite (ELM) along with access to over 10,000 pre-verified lawyers pan-India. Its solution covers all aspects of litigation, IPR, legal notices and legal contracts management. The firm also offers a platform providing real time, data-backed insights on externally engaged lawyers alongside predictions on possible litigation outcomes using 200 million-plus historic case data from over 7,000 Indian courts.

The firm has over 100 corporates as clients, including SBI General Insurance, Amazon, Snapdeal, Whirlpool, Indiamart, Panasonic, Havells, Max Insurance, JCB, and Dell.