PRESS RELEASE: Litigation tech startup Allegory raises over $500,000 from industry leaders; Bob Rowe joins the Board of Directors
Bob Rowe, former Executive Vice President in charge of Legal, Huron Consulting Group
Mike Suchsland, former President, Legal Business at Thomson Reuters
David Perla and Sanjay Kamlani, founders of Pangea3
Jeroen Plink, former CEO of Practical Law Company US
Karen Pordum, CEO and owner of Synergy Legal Staffing
Rob Hill, founder of Synergy Legal Staffing
Allegory, a cloud-based litigation technology startup, started by Gibson Dunn litigator Alma Asay in 2012, has exceeded its target of $500,000 in a funding round led by industry leaders.
Bob Rowe, formerly Executive Vice President at Huron Legal, which was acquired by Consilio for $112 million in 2015, led the round. He also joins Allegory’s Board of Directors.
"I believe that the next wave of technology and process improvements will be focused on the management and analysis of all evidence and work product generated in a matter or across a docket, not just the documents subject to the e-discovery process,” says Rowe. “It's incredible to see the reception Allegory receives at every meeting and exciting to see lawyers and paralegals eager to use this new technology. I believe Allegory is the best-positioned company in the market to take advantage of this expanded focus in litigation.”
Allegory founder and CEO, Alma Asay, adds, "I first met Bob almost three years ago, when he was leading Huron Legal. He saw the promise of Allegory and understood both the challenges and opportunities of launching a startup in the legal sector. I’m thrilled to work with Bob and our other investors to take Allegory to the next level. The confidence of these industry leaders in our business is a huge reaffirmation that we are on the right track.”
Pangea3 founders David Perla and Sanjay Kamlani also invested in the round, as did Mike Suchsland, former President, Legal Business at Thomson Reuters, Jeroen Plink, former CEO of Practical Law Company US, Karen Pordum, CEO and owner of Synergy Legal Staffing, and Rob Hill, founder of Synergy Legal Staffing. Toronto-based Epstein Enterprises also invested, following an introduction by legal innovation leaders, Jason Moyse (Elevate Services) and Aron Solomon of Law Made, which recently announced a $20 million early stage startup investment fund for new and emerging legal businesses.
Allegory’s announcement comes during a period of growth for the company, which primarily has relied on revenue to support its business, having previously raised just under $1 million. Allegory saw 30% growth in revenue last year and has more than doubled in size. Allegory serves many of the top law firms in the country, counting Vault 10 BigLaw firms, Vault top boutique firms, as well as Fortune 500 companies, among its clients.
The company plans to use the additional funding to expand its reach and add more advanced functionality to its software, which it expects to roll out later this year.
Founder and CEO Alma Asay, who was named by the ABA’s Legal Technology Resource Center as one of 10 “Women of Legal Tech 2016” and won last year’s prestigious Fastcase 50 award that highlights entrepreneurs and innovators in the legal industry, says that, "The transition from setting out to prove a concept as a one-woman shop funded by a few friends and family to securing funding from some of the most well-respected executives in the legal industry has been invigorating. Our whole team is excited to grow our operations and leverage the experience and expertise of this incredible group of investors to ensure our product and our services continue to lead the field.”
Allegory is a cloud-based litigation platform built around the way litigation teams think and work. Allegory clients include Fortune 500 companies, Am Law 100 law firms, and litigation boutiques, including firms listed in both “Vault’s Top 10 Law Firms for 2017” and Vault’s “2017 Best Litigation Boutique Law Firms.” Allegory enables litigation teams to focus on lawyering and winning their cases, instead of organizing and tracking down information. It is the brainchild of former Gibson Dunn litigator, Alma Asay, a graduate of New York University Law School and one of the first and only female BigLaw lawyers to found a legal technology startup.