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Cloud-based platform that makes the drafting process simpler, secure & far more efficient
NVM invested £3.1m development capital in July 2018
NVM Private Equity (NVM) has invested £3.1 million of growth capital into Midlands-based Clarilis, a high-growth technology business providing drafting automation solutions to the legal industry.
The investment from NVM will help Clarilis to continue on its growth trajectory, with the funding enabling the team to accelerate their strategic initiatives and capitalise on the strong market demand they are experiencing.
Co-founded by James and Kevin Quinn, Clarilis launched its solution in 2015 and has quickly established itself as a leading platform in automated document drafting for the legal community. The business combines a proprietary technology platform with an internal team of experienced lawyers and automation staff to deliver a complete service offering to clients. Over the past two years Clarilis has built strong relationships with major UK and US law firms, partnering with them to increase the speed of their drafting whilst maintaining quality and consistency.
The size of the UK legal market is currently at a record high, with the sector delivering solid financial results. However, firms are experiencing considerable client pressure on fees and the methods of service delivery. Competition from new entrants to the legal market, facilitated by a more liberal regulatory environment, has driven a renewed focus on innovation and technology in order to maintain profitability and market share.
Clarilis provides clients with significant efficiency gains in their drafting processes, reducing the time and resource required to produce initial drafts of documents. It counts both corporate in-house teams and private legal practices amongst its customer base, including firms such as Travers Smith, Addleshaw Goddard, Burness Paull and Baker McKenzie.