UnitedLex to Leverage $6 Million in Series B Funding from Canaan Partners and Helion Venture Partners to Drive Expanded LPO Initiatives
UnitedLex will leverage the funding for bolstering its global team of elite onshore legal experts, expanding a 750-seat delivery center, growing its remote processing operations, and enhancing its proprietary LexBase technology platform.
Seattle, WA (PRWEB) October 21, 2008
UnitedLex, global leader in legal consulting, technology and outsourcing, today announced at the Association of Corporate Counsel (ACC) 2008 Annual Meeting that it will utilize its $6 million in Series B funding secured in July to drive several corporate initiatives. The Series B investment was led by Canaan Partners, a leading global venture capital fund and Helion Venture Partners, which had also participated in UnitedLex's Series A investment in 2007.
UnitedLex will leverage the funding for bolstering its global team of elite onshore legal experts, expanding a 750-seat delivery center, growing its remote processing operations, and enhancing its proprietary LexBase technology platform.
"We are looking to redefine the LPO market with our unconventional end-to-end solutions approach that will foster efficiencies that enable legal teams to grow business by concentrating on their core competencies while automating legal operations, reducing costs, and improving overall workflow," said Daniel Reed, Chief Executive Officer, UnitedLex. "The support of our funding partners Canaan Partners and Helion Venture Partners gives us the resources to continue to offer superlative services to existing and prospective customers."
Founded in 2006, UnitedLex offers deep domain expertise in the following areas: litigation support/eDiscovery (http://www. unitedlex. com/litigationSupport. html), intellectual property, contracts & sourcing, law firm accounting and administrative support, and immigration services.
"UnitedLex has a strong track record in delivering the highest levels of quality outsourcing services for the world's largest companies and their customers include over fifteen Global 500 companies. UnitedLex's experienced leadership team, cutting-edge technology and its demonstrated success with Global 100 clients in multiple verticals makes it the worldwide leader in its space. We are excited to partner with UnitedLex and are confident of building a great business here," said Alok Mittal, Managing Director, Canaan Partners.
"UnitedLex's team has built one of the best execution engines in the outsourcing business. Their delivery spans the most complex to the most scaled legal process and this capability is being recognized by top-tier customers," said Rahul Chandra, Director, Helion Ventures Pvt. Ltd. "We are happy to deepen our engagement with the UnitedLex team as it takes yet another step towards growth."
In addition to supporting its core areas of domain expertise, the UnitedLex delivery centers also offer custom services and technology solutions, including the redesign and implementation of legal risk management practices for the banking and insurance industries, the management of a company's end-to-end contracting lifecycle, and tailored technology applications embedded in its LexBase platform.
According to Reed, the funding will also play a pivotal role in continuing to expand its UnitedLex University, a superior training program built on creating quality and consistency among all attorneys that is achieved via Cambridge based training modules and certification programs. "UnitedLex University is one of the many differentiators that sets this company apart from the rest and truly positions us as a beacon for a new wave of LPO. We have corralled the best LPO training experts to provide our clients with highly skilled resources and experts who serve as an oasis for all their legal needs."
About Canaan Partners
Canaan Partners is a global venture capital firm that invests in people to turn visionary ideas into valuable and significant technology & healthcare companies. For 20 years, we have backed entrepreneurs by giving them the transformational opportunities, luminary insights and operational guidance it requires to build high-performance companies. In India, their focus areas include mobile applications, medical devices and the interactive media space. Canaan has recently invested in Consim Info earlier known as BharatMatrimony Group. Canaan's other investments in India include Cellcast Asia Holdings from the Mobile VAS space, techTribe - a career networking portal based on the referral model and iYogi - a second generation outsourcing startup. Canaan has offices in California, Connecticut, India and Israel. For more information visit www. Canaan. com.
About Helion Venture Partners
Helion is a multi-stage, India-focused venture fund with $350 million under management. The fund invests in businesses that are either technology-powered or catering to the Indian consumer services space. The focus sectors of investment include - outsourcing, internet, mobile, technology products, retail services, education and financial services. The fund's investors are well-respected global institutions including top tier university endowment funds, foundations and family offices. The fund and its portfolio companies are advised by an experienced and industry renowned team of professionals based in India which include Sanjeev Aggarwal, Ashish Gupta, Kanwaljit Singh and Rahul Chandra. For more information visit www. Helionvc. com.
About UnitedLex
UnitedLex is the global leader in legal consulting, technology and outsourcing. The company empowers its clients by delivering rapid and scalable results with measurable returns in the fields of litigation, contracts and sourcing (http://www. unitedlex. com/contractManagement. html), intellectual property, immigration and law firm support. With offices in the United States, the United Kingdom and India, UnitedLex offers its clients the optimal blend of consulting and technology-driven outsourcing solutions. For more information, visit www. UnitedLex. com.
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