Mitratech, a leading global provider of legal and compliance software, today announced its acquisition of Acuity ELM, a provider of SaaS e-Billing, matter management, claims defense, and legal hold products to small and mid-size corporate legal teams.
With this acquisition, Mitratech will now be able to offer a comprehensive and complementary range of ELM solutions to suit the needs of legal and claims departments of any size, including small and mid-sized ones. The ease of adoption and use of Acuity ELM’s platform also complements Mitratech’s existing offerings, as well as the user-centric culture of support and collaboration behind it.
As Mike Williams, CEO of Mitratech explained, ”Acuity ELM’s platform enables anyone from first-time adopters to longtime power users to take advantage of leading-edge features and best-in-class support. Its flexibility and scalability in meeting even a small legal or claims department’s needs over time make it a perfect fit for our portfolio.”
Throughout 2020, Mitratech has been focused on enabling legal and compliance teams to leverage technology and enhanced processes to ensure business compatibility for their organizations. “We came to the realization,” Mike Williams says, “that smaller departments that haven’t yet adopted technology to manage documents, control legal spend, process claims, and otherwise streamline operations have fallen further behind the rest of the industry on the legal technology maturity curve. So we saw an incredible opportunity to help this underserved portion of the market, and Acuity ELM will help us do that.”
Mitratech already offers TeamConnect ELM, an industry-leading end-to-end platform whose customer base includes 30% of the Fortune 500. As industry analyst IDC recently noted as it recognized Mitratech as a leader in the ELM market, “Mitratech continues to be recognized by its customers as a leader in enterprise legal management.”
Acuity ELM provides integrated matter management, outside counsel management, e-Billing, analytics and reporting, delivered as an adaptable, cloud-based platform. By balancing control, efficiency, cost-consciousness, functionality, and security, it offers a complete solution for small to mid-sized legal and claims departments, one that can scale to meet their demands as they grow or evolve.
“Small and mid-size departments certainly can use end-to-end ELM solutions,” Mike Williams says, “but they’re also looking for product and providers who give them ‘walk-to-run’ support, who are able to help them grow, who can empower them at every stage of their legal tech maturity process.”
Founded in 1996 as TrialNet and based in Richmond, VA, Acuity ELM has built a powerful reputation and track record:
- 97% of Acuity clients are very or extremely satisfied with Acuity.
- The platform has seen a 100% adoption rate for e-billing among its clients’ outside law firms.
- Clients are often able to break even on their investment within three months – and recognize three-year ROI between 3X and 5X.
- Its innovations have included features like the Acuity Firm Scorecard, the first feature of its kind in the market to provide real-time assessment of outside counsel performance versus previous years, their strengths and areas for improvement, and how a firm compares to others in its cohort.
Mike Williams says that products aside, it was the two companies’ compatible commitments to customer satisfaction that cemented the acquisition. “We were really impressed by the praise they get from their users,” he said, “especially when it comes to their responsiveness and availability and willingness to partner with customers. That kind of focus on customer support and collaboration to continuously improve our solutions is absolutely central to our culture, too.”
“Mitratech has consistently demonstrated a strong focus on client service, a value we share,” agreed Kelley Johnston, CEO of Acuity ELM. “Alignment with Mitratech, one of the top ELM providers today, will enable Acuity to thrive under the strength of Mitratech’s reach and resources.”
Marks Baughan Securities acted as the exclusive financial advisor to Acuity ELM.
For more information on this transaction, please contact:
Nick Baughan
+1 610.616.3294
nbaughan@marbau.com
Bill Takeuchi
+1 610.616.3296
wtakeuchi@marbau.com
John Martin
+1 610.616.3283
jmartin@marbau.com
About Marks Baughan Securities
Marks Baughan provides investment banking services to growth companies. Our clients are software, technology-enabled services and data-intensive companies seeking shareholder liquidity or growth capital. We work tirelessly alongside our clients and excel at defensible positioning and disciplined processes that maximize shareholder value. Our professionals come from senior positions at bulge-bracket firms, giving our clients access to the relationships and experience that come from our years of interaction with the top executives and investors in companies in our fields. Our clients receive top-flight advice throughout any advisory relationship, because our boutique approach allows our senior advisors to stay deeply involved with each client on a continuous basis. No handoffs to junior staff. No preferential client relationships. No conflicts of interest.
For additional information on Marks Baughan, see www.marksbaughan.com.
About Acuity ELM
Acuity ELM delivers intuitive, powerful enterprise legal management software and exceptional client service to legal teams of all sizes, with an eye towards fostering efficiency and advancing the integrity of the legal tech landscape as a whole.
For additional information on Acuity ELM, see www.acuityelm.com.
About Mitratech
Mitratech is a proven global technology partner for corporate legal, risk, and compliance professionals, offering a proven portfolio of end-to-end solutions that spread operational best practices throughout the enterprise, standardizing processes and accelerating time-to-value. That helps legal and GRC teams rise to the challenge of serving the evolving needs of the modern, dynamic enterprise.
For additional information on Mitratech, see www.mitratech.com.