Carrick Capital Partners, a growth-oriented investment firm focused on software and software-enabled businesses, announced the closing of its investment in LegalSifter, a technology company that leverages differentiated artificial intelligence and human expertise to provide pre- and post-signature contracts-related software and managed services. The company will use the funding to expand its innovative set of offerings and scale operations.
As part of the transaction, Carrick Co-CEO Jim Madden and Director Ivan Whittey will join the LegalSifter board of directors, along with Varun Mehta, CEO of Factor, a Carrick portfolio company that is investing alongside Carrick in the transaction. Factor is a provider of complex legal work at scale, with a specific focus on contracting.
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“As a growth-focused private equity firm with a differentiated level of expertise and network in our space, Carrick is an ideal partner. Their wealth of experience helping build legal sector pioneers such as Axiom and Factor will be extremely valuable as we enhance and scale the company,” said Kevin Miller, CEO of LegalSifter. “We are excited to leverage Carrick’s funding, insights and relationships to further accelerate LegalSifter’s strong growth trajectory,” he added.
“We are pleased that our thematic sourcing work led to the identification of LegalSifter. Given our years of experience in this space, we are confident that the company is uniquely able to address major contracts-related pain points for enterprise and mid-market clients through its combination of software, artificial intelligence and human expertise,” said Madden. “We look forward to actively supporting Kevin and the LegalSifter team through our “more than capital” investing style. We are particularly excited as this is our first investment in our new Fund IV.”
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