Legal Tech Scale-up Apperio Raises $7 Million Growth Round

Apperio, a leading provider of legal spend analytics and matter tracking software, announced today it has raised a $7 million growth round of venture capital funding. “That Apperio closed on funding with both new and existing investors, in this environment, speaks volumes to the company’s unique position in the legal technology sector, the value the company is delivering to customers and the significant opportunities ahead.” Catalyst for better transparency in legal spend management The idea for Apperio began when its founder and CEO, Nicholas d’Adhemar, a lawyer turned private equity investment manager, noticed his PE firm was often surprised by the size of law firm invoices. The fees charged by outside legal service providers for transactions would frequently exceed the cost of the initial estimate given at the outset with little to no visibility that this had occurred until the invoice landed. The product quickly drew interest from in-house lawyers working in private equity ranging from boutique PE firms like Epiris – to global giants like EQT. This fosters a shared understanding between law firms and their clients – and shifts the focus back to the legal work at hand instead of the adversarial haggling that traditionally festered over invoices and discounts.