Beaverton, Ore.-based authorized tech firm Exterro stated it has acquired Zapproved, a Portland, Ore.-based software program platform that helps company legal professionals kind by means of and analyze knowledge.
The businesses didn’t disclose the phrases, however the deal is reportedly value “lots of of thousands and thousands” of {dollars}. Zapproved, which raised $15 million in 2015 from K1 Funding Administration ranked No. 92 on the Startup 200, our listing of prime privately-held Pacific Northwest startups.
Roughly all of Zapproved’s 130 executives and workers will carry over to Exterro, together with CEO Monica Enand, who based Zapproved in 2008, LawSites reported. The mixed headcount shall be 750.
Based in 2008, Zapproved sells e-discovery software program to greater than 350 company authorized groups. Vista Fairness Companions, which acquired a majority stake in Zapproved in 2017, will maintain a minority stake following the acquisition.
Exterro, which additionally sells authorized software program for e-discovery, is a portfolio firm of Leeds Fairness Companions. The New York-based non-public fairness agency first invested within the startup in 2018, funneling greater than $100 million into Exterro to take a majority stake. Exterro is eyeing an IPO for 2024, Reuters reported.
In June, Exterro secured new capital from Coller Capital and Glendower Capital, partially to search out corporations to accumulate. The fairness spherical valued Exterro at greater than $1 billion, making it certainly one of just some unicorn corporations in Oregon.