US-based legal analysis software provider LinkSquares secured $100m yesterday in a series C round that may have included corporates and existing backers Bottomline Technologies, Xerox and Massachusetts Mutual Life.
G Squared led the round, participating together with fellow venture capital firm G2 Venture Partners and undisclosed existing investors at an $800m valuation.
LinkSquares is the creator of a cloud-based platform which utilises artificial intelligence to analyse business contracts in order to identify pertinent information, in addition to helping legal teams write better contracts.
MassMutual Ventures, the corporate venturing subsidiary of insurance firm Massachusetts Mutual, co-led LinkSquares’ $4.8m seed round with VC firm Hyperplane Venture Capital in 2019, investing alongside an unnamed law firm.
The company increased its overall funding to $21.4m in early 2020 when it raised $14.5m in a Jump Capital-led series A round that included MassMutual Ventures, Hyperplane and Ascent Ventures.
The last three returned for LinkSquares’ $40m series B round, in July 2021, which was led by Sorenson Capital and also backed by payment technology provider Bottomline, printing technology producer Xerox, Catalyst Investors and undisclosed private investors.
Chris Fisher, managing director of Xerox’s strategic investment vehicle, Xerox Ventures, said yesterday: “Xerox Ventures invests in technology and market leaders who are paving the way for transformative gains in efficiency, cost savings and revenue.
“LinkSquares brings scalable automation into a traditionally fragmented process while delivering exceptional customer experiences. With Xerox as a customer and a partner, LinkSquares can drive continued adoption in our portfolio of businesses, substantial customer base and the greater market.”
