Legal Tech Company PERSUIT Closes $20 Million In Series A Funding

By Noah Long ● Oct 11, 2021
  • Legal tech company PERSUIT announced it has raised $20 million in its Series A funding led by OpenView. These are the details.

Legal tech company PERSUIT announced it has raised $20 million in its Series A funding led by OpenView. And the company will use the resources to invest in accelerated capabilities across its product range and enhanced data insights to best support and grow its customers.

PERSUIT’s SaaS platform connects Fortune 500 companies like UBS, HSBC, Johnson & Johnson, Novartis, Facebook, and Intel with law firms and other professional service providers. And the first technology purpose-built to optimize the outside counsel selection process, PERSUIT helped their customers more quickly connect with the right outside counsel while cutting their spend by an average of 37% for each engagement, translating into a savings upwards of tens of millions of dollars.

“We are very excited to have OpenView on board. With their significant capital injection, capability, and expertise in scaling hyper-growth companies, we are now hitting the ‘go button’ on a number of initiatives that are all focused on continuing to delight and grow our customer and user community.”

As part of the funding round, PERSUIT is hiring across all of its functions globally – sales, marketing, finance, customers success and engineering.

— Jim Delkousis, Founder & CEO of PERSUIT

“PERSUIT is solving a problem that inhouse legal departments have always struggled with. Being able to select the right firm at the right price for every engagement, making the entire process streamlined and data-driven.”

— Thomas Barothy, Global COO Legal for UBS

“PERSUIT has assembled a world-class team that is creating a new way to procure legal services. The company is transforming an opaque process that underpins $200B+ of corporate spend for its customers, helping them select the right firm for the right matter at a fair price.”

— Scott Maxwell, Founder and Managing Partner at OpenView and newly appointed PERSUIT board member