Legal tech investment receded in the second quarter without a blockbuster transaction and a drop-off in the U.K., a Bloomberg Law analysis found.
The fall from $400 million to $122 million was largely attributable to a $200 million investment in the last period to business enterprise software company Onit from the private equity firm K1 Investment Management.
Onit officials have said they plan to use the funds in part to accelerate new product development and enhance existing product offerings.
The Bloomberg Law analysis was based largely on data from companies designated as “legal” by Crunchbase, and from investments or mergers ...
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