Runway Growth Capital last week announced that it has closed a $40m loan to Elevate Services to refinance its existing debt and provide additional working capital.
According to Crunchbase, Elevate, which is an alternative legal services provider working with global 2000 legal departments and Am Law 200 law firms, has raised $102m to date, including a debt financing round on 19 July 2019, when it secured a $25m minority investment from Kayne Partners. That investment shortly followed Elevate’s acquisition of Yerra Solutions and Halebury at the start of 2019. In 2018, Elevate acquired contract lifecycle management vendor Sumati Group, enterprise legal technology and consulting firm LexPredict, and Hong Kong-based flexible lawyering company Cognatio Law.
“We selected Runway because of their track record partnering with management teams to build great companies,” said Liam Brown, Elevate’s founder, chairman, and CEO. “That showed up in the way their team worked to understand our business to deliver ideal terms for capital to execute on the next stage of our strategy.”
caroline@legaltechnology.com
