Orrick's first legal tech spinoff acquired by Brightflag – Reuters

Welcome to Reuters Legal News beta. Please enjoy and provide us with your feedback as we continue to improve the Reuters Legal News experience.
Signage is seen outside of the law firm Orrick, Herrington & Sutcliffe, LLP in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly
The company and law firm names shown above are generated automatically based on the text of the article. We are improving this feature as we continue to test and develop in beta. We welcome feedback, which you can provide using the feedback tab on the right of the page.
(Reuters) – The first company to spin out from Orrick, Herrington & Sutcliffe's in-house technology lab has been acquired by legal spend management startup Brightflag, the company said on Wednesday.
The purchase marks a milestone for Orrick and spinout Joinder, as well as the first acquisition for Dublin, Ireland-founded Brightflag.
Joinder was co-founded by former Orrick partner Don Keller, who also has served as the company's CEO.
The software platform started as an internal system built by Orrick Labs, a team of technologists, for some of the firm's clients. Joinder then split off as an independent business that aims to assist corporate legal departments with activities like task and document management.
Joinder's product will be integrated with Brightflag's. Brightflag also markets its platform to in-house lawyers, including tools for matter management and legal spend management.
The company said it has raised $39.1 million in total funding from investors since its 2014 founding. Financial terms of the Joinder acquisition were not disclosed Wednesday.
Brightflag's customers include Syngenta Group, SAP and MongoDB Inc, according to the company.
Some large law firms have developed external-facing legal technology tools, but many keep these products only for internal use with clients.
Joinder became independent from San Francisco-founded Orrick in April.
Keller said that it's "not typical" for a company to be acquired so early on in its lifecycle. But the platform's initial development to serve Orrick clients prompted the team to build an "enterprise-scale product" that made it ready more quickly for an acquisition.
Read more:
Orrick tech lab spins off first independent product, pitching more client control
Sara Merken reports on privacy and data security, as well as the business of law, including legal innovation and key players in the legal services industry. Reach her at [email protected]
Subscribe for our daily curated newsletter to receive the latest Reuters legal news and headlines delivered to your inbox.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Information, analytics and exclusive news on financial markets – delivered in an intuitive desktop and mobile interface.
Access to real-time, reference, and non-real time data in the cloud to power your enterprise.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2021 Reuters. All rights reserved

source