Nexl, a no-data-entry CRM platform for legal professionals, has raised $4 million in a financing spherical led by Australian-based B2B enterprise capital agency EVP with follow-on participation from The Legal Tech Fund, Vulpes and Saniel Ventures.
Nexl mentioned it would use the funding to speed up the event of its core product, improve acquisition efforts in main markets, and appeal to business expertise to construct out its fast-developing ecosystem for companions and purchasers alike.
Nexl mentioned its product is in use at greater than 100 regulation corporations in 37 nations, together with such corporations as Eversheds, Wiersholm, Dentons, Bartier Perry, Polsinelli, and Al Tamimi.
Not like conventional CRM merchandise, Nexl works by robotically capturing all of a lawyer’s interactions, together with emails and conferences, after which passively mapping all relationships and interactions amongst agency members, prospects, and purchasers on an ongoing foundation.
The corporate was based by Philipp Thurner, who beforehand led innovation at Gilbert and Tobin, a premier Australian company regulation agency. He had the objective of growing a relationship platform that capabilities in environments the place consumer acquisition exercise is passive, unstructured, and completely relationship dependent.
“Relationships are every thing in skilled providers, but the administration of those relationships often depends on decentralized and largely disorganized communication and information-sharing practices,” Thurner mentioned. “Administration and development groups inside regulation corporations will usually have little or no visibility as to the power of particular person consumer relationships and the context behind every.”
Having launched its platform simply 18 months in the past, Nexl mentioned that elevating cash within the hardest funding local weather in current reminiscence is validation of its thesis.