Posted Mar 18, 2021, 10:37 PM
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Join Date: Dec 2012
Location: Chicago
Posts: 6,931
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Relativity lands Silver Lake investment in deal that reportedly values the legal tech company at $3.6B
https://www.bizjournals.com/chicago/...t-in-deal.html
Quote:
Chicago legal tech company Relativity has taken a strategic growth investment from a private equity firm as it looks to accelerate global growth and differentiate its technology offerings.
California-based Silver Lake, which specializes in tech investing, is investing an undisclosed amount into Relativity, a deal that makes the company now valued at about $3.6 billion, according to The Wall Street Journal. Silver Lake, which has also invested in tech giants like Airbnb, Dell and Expedia, is now Relativity’s largest shareholder and representatives are joining Relativity’s board of directors.
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RelativityOne, the firm’s cloud platform, has led the company’s growth as the number of customers and the amount of data being managed on the platform has doubled in the past 12 months, the company said.
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In 2015, Relativity raised $125 million from Iconiq Capital, the only outside investment the firm has taken. Relativity said on Thursday that ICONIQ will remain a key investor.
Outside of the United States, the company has offices in London, Hong Kong, Australia and Poland. The company employs 1,200 people worldwide, about 900 of whom are in Chicago.
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