Exterro® Inc., the preferred provider of software specifically designed for in-house legal and IT teams at Global 2000 and AmLaw 200 organizations, today [May 23, 2018] announced a strategic investment from Leeds Equity Partners, a sector-focused private equity firm with a two-decade history of investing in the knowledge industries. The investment will enable Exterro to accelerate development of its market-leading orchestrated e-discovery solution and continue to strengthen the resources required to deliver world-class support to its customers.
“Exterro was founded with the simple vision that applying the concepts of process optimization and data science to the way companies respond to litigation would drive more successful outcomes at a lower cost,” said Bobby Balachandran, President and CEO, Exterro. “I am excited to begin work with our new partners from Leeds Equity Partners to increase operational efficiency, drive growth and create long-term business value for our customers.”
Leeds Equity is the leading private equity firm with an exclusive focus on investing in the Knowledge Industries, a sector which includes information services, education and training, and software. The firm’s investment professionals dedicate significant time and resources to each portfolio company, working closely with senior management to execute on strategy, drive innovation, and invest in growth, all with the goal of better serving customers and creating long-term business value.
Leeds Equity’s experience investing in the legal sector includes its investment in BARBRI, which is one of the largest providers of practical legal education to law students and attorneys throughout their careers. At the core of BARBRI is its bar review offering, which has helped more than 1.3 million lawyers around the world pass a U.S. bar exam. Also included is The Association of Certified E-Discovery Specialists (ACEDS), a member-based organization for professionals in the private and public sectors who work in the field of e-discovery.
“Bobby and his team have built a very successful business through deep strategic vision, leading product innovation, focus on customer success and strong operating fundamentals,” said Jacques Galante, Managing Director, Leeds Equity Partners. “We look forward to partnering with them to develop and execute on the numerous strategic growth opportunities within the e-discovery and information governance markets.”
The investment will enable Exterro to accelerate product development across their entire Orchestrated E-Discovery platform. For example, the company recently announced the launch of Exterro Smart Labeling, the industry’s most advanced use of Artificial Intelligence (AI) in the Exterro Review product. Exterro Smart Labeling leverages the latest Deep Learning technology innovations to help guide reviewers by constantly analyzing and understanding the context of their labeling decisions, and suggesting/queueing the most relevant unreviewed documents, saving significant time and cost. Exterro Smart Labeling is the first instantiation of Exterro’s Artificial Intelligence vision to infuse AI throughout the entire E-Discovery process. In the near future, Exterro will be launching new AI capabilities that will drive efficiency in the identification, preservation and collection stages of the process. Marks Baughan served as financial advisor to Exterro on this transaction.
Exterro®, Inc. is the preferred provider of e-discovery software specifically designed for in-house legal and IT teams at Global 2000 and Am Law 200 organizations. Built on a simple concept of process optimization, Exterro helps organizations improve and simplify e-discovery activities. With Exterro’s Orchestrated E-Discovery Suite, traditionally fractured and fragmented e-discovery efforts are mended by orchestrating and automating tasks in a coordinated workflow across the entire e-discovery process, reducing time, cost and risk associated with e-discovery. For more information, visit exterro.com.
About Leeds Equity Partners
Leeds Equity Partners, LLC, is a sector-focused private equity firm dedicated exclusively to partnering with management teams in the education, training, software and information services industries (the “Knowledge Industries”). Leeds Equity has been investing in the Knowledge Industries for over twenty years, having deployed over $2.6 billion of capital across its portfolio of companies. Given its deep domain experience and sector immersion, Leeds Equity offers a unique combination of acquisition and growth capital, strategic insights and operational advice. Learn more at www.leedsequity.com.