We are excited to announce that we have successfully raised $6.6M in a Series A funding round to redefine law firm collaboration. The investment round was co-led by Shearwater Capital and one of our existing investors, Australian-based B2B venture capital firm EVP, bringing Nexl’s total funding for 2023 to $10M, following Nexl’s fundraise in March of $4M.
As we celebrate this milestone, we wanted to thank you, our users and customers, for supporting and believing in Nexl. Our success is only possible because of your ongoing support and belief in our mission to modernize the business of law.
In 2021, Nexl made our debut as a revolutionary “no-data-entry” CRM, aiming to address the long-standing issue of inaccurate relationship data within the legal industry. However, as Nexl embarked on this journey, we soon discovered a series of ever more pressing challenges faced by firms across the world — essentially, collaboration across law firm departments. Recognizing the importance of overcoming this obstacle, Nexl set itself a goal to continue to evolve.
Over the past two years, with your help, we’ve undergone a remarkable transformation. Fast forward to 2023, and Nexl continues to not only uphold its commitment to resolving relationship data problems for law firms but has also expanded its offerings to encompass a comprehensive suite of collaboration tools and business of law products — including our latest addition to our product suite — our Email Marketing System, Nexl Engage.
Off the back of the company’s Series A, Philipp Thurner, CEO and Founder of Nexl says the company is deeply focused on its mission to modernize the business of law — through collaboration — and empower our clients with the tools, knowledge, and insights they need.
“I am incredibly excited about the remarkable strides we’ve made, a reflection of the success of our clients who are the true innovators and bold leaders in the legal industry. They embrace our shared vision to modernize the business of law, enhancing the significance of business operations within their firms and democratizing the power structure. This shift towards a more cohesive, business-like approach in law firms is something we’re proud to support.
Our clients are the vanguard of this change, and our rapid progress, with two funding rounds in just twelve months amidst a tough VC climate, speaks volumes about our mutual success. This is not just about funding; it’s a clear indicator of the legal industry’s commitment to collaborative, data-driven strategies. As we continue to redefine the business of law, we’re excited to collaborate with more forward-thinking law firms and deliver a platform that embodies this new era of working.”
Funds raised from the company’s Series A will enable Nexl to focus on its core market in the United States and boost Nexl’s go-to-market capabilities. It will also turbocharge the company’s product development and enable Nexl to continue its mission of modernizing the business of law.
Thank you again for your ongoing support and we’re excited to continue our journey with you all on board!
CEO and Founder