The investment will also support the platform’s growth in the US
An investment from US private equity firm Serent Capital is set to fuel the global expansion of Auckland cloud-based legal practice management platform Actionstep.
Product, sales, and organisational investments will also support the platform’s growth in the US.
Founded in 2004 by chief executive officer Ted Jordan, Actionstep caters to small and mid-sized law firms, helping to enhance case and administrative work efficiency. Since its inception, the company has developed an international presence, operating not just in New Zealand but also in Australia, Canada, the UK and the US.
In March, Actionstep offered free access to its software to aid law firms in adapting to remote work setups during the COVID-19 lockdown.
“Ted and the Actionstep team have built a leading software that empowers law firms to efficiently manage their day-to-day operations so the lawyers can focus on serving client needs. We have spent the last few years evaluating the legal technology landscape, and Actionstep’s functionality and customer satisfaction have consistently stood out,” Serent Capital partner Stewart Lynn said.
Serent Capital has a focus on in investing in high-growth technology and services businesses, and Lynn highlighted Actionstep’s existing customer base in the US.
“Actionstep already has a great set of customers in the United States. As Actionstep and Ted bring on their first institutional investor and partner, we are excited to support the company’s ambitious growth plans,” he said.
Jordan said that Serent Capital’s resources and growth team would help Actionstep to extend its reach across its core markets.
“At Actionstep, we have a passion for innovation and we take pride in delivering unquestionable value to our customers. With Serent’s partnership, we’re looking forward to bringing that same innovation and value to even more law firms and lawyers in our main regions of New Zealand, Australia, the United Kingdom, and of course the United States,” he said. “Through Serent’s resources and growth team, we believe we can accelerate our go-to-market capabilities and significantly expand our footprint in these core markets.”
