Nexl Secures $6.6M Series A to Modernize the Business of Law

Nexl, the all-in-one collaboration platform trusted by over 100+ regulation companies all over the world has efficiently raised $6.6M in Sequence A funding. The funding spherical was co-led by Shearwater Capital and certainly one of Nexl’s current traders, Australian-based B2B enterprise capital agency EVP, bringing Nexl’s whole funding for 2023 to $10M. 

In 2021, Nexl made its debut as a revolutionary “no-data-entry” CRM, aiming to handle the long-standing challenge of inaccurate relationship knowledge inside the authorized trade. Nonetheless, the corporate quickly found a collection of ever extra urgent challenges confronted by companies internationally — basically, collaboration throughout regulation agency departments. Recognizing the significance of overcoming this impediment, Nexl set itself a objective to proceed to evolve.

Over the previous two years, Nexl has undergone a change. Quick ahead to 2023, and Nexl continues to not solely uphold its dedication to resolving relationship knowledge issues for regulation companies however has additionally expanded its choices to embody a complete suite of collaboration instruments and enterprise of regulation merchandise.

Right this moment, Nexl is greater than only a “no-data-entry CRM” and has advanced into an all-in-one collaboration platform, positioning Nexl on the forefront of modernizing the enterprise of regulation because the trade enters into an unprecedented period of change.

With conventional strategies of collaboration and nurturing consumer relationships not assembly the evolving calls for of regulation agency shoppers, regulation companies are searching for new methods to drive alignment, run their companies like a enterprise, and handle their consumer relationships in a coordinated, collaborative approach.  

Nexl works by first, routinely capturing necessary relationship knowledge factors throughout companies and actively mapping all relationships and interactions between agency members, prospects, and shoppers on an ongoing foundation. The result’s deep “relationship intelligence” into each current and potential consumer interactions, holistically throughout the agency. With this relationship knowledge and insights captured, Nexl provides companies the instruments they should drive firm-wide collaboration by way of its suite of collaboration merchandise and options – together with its newest addition, Nexl’s Electronic mail Advertising and marketing System — Nexl Interact. Which means companies are given the information and the instruments they should collaborate and drive ahead their enterprise of regulation initiatives.

Off the again of the corporate’s Sequence A, Philipp Thurner, CEO and Founding father of Nexl says the corporate is deeply centered on its mission to modernize the enterprise of regulation — by way of collaboration — and empower its shoppers with the instruments, data, and insights they want. 

“I’m extremely excited concerning the outstanding strides we’ve made, a mirrored image of the success of our shoppers who’re the true innovators and daring leaders within the authorized trade. They embrace our shared imaginative and prescient to modernize the enterprise of regulation, enhancing the importance of enterprise operations inside their companies and democratizing the ability construction. This shift in direction of a extra cohesive, business-like strategy in regulation companies is one thing we’re proud to assist”, he stated.

Funds raised from the corporate’s Sequence A will allow Nexl to give attention to its core market in the USA and increase Nexl’s go-to-market capabilities. It is going to additionally turbocharge the corporate’s product improvement and allow Nexl to proceed its mission of modernizing the enterprise of regulation. 

Zac Zavos, Co-Founder and Managing Accomplice at Shearwater Capital, on why Shearwater invested in Nexl stated: “All our buyer analysis informed us regulation companies wished a Relationship Administration platform that will work out-of-the-box and current incumbent gamers didn’t meet this want for regulation companies. Nexl does this and their sturdy progress is a mirrored image of how properly they handle this drawback. We’re actually completely happy to be part of the journey.”

Daniel Szekely, Accomplice at EVP, on why EVP invested in Nexl once more stated: “Conventional sales-oriented CRMs usually are not efficient in skilled service companies. It’s staggering that till right this moment, regulation companies haven’t had a approach to successfully monitor and handle consumer relationships utilizing appropriate Relationship Administration. The massive variety of main international companies taking up Nexl’s resolution is a testomony to the apparent name to market within the trade and an distinctive crew that deeply understands the issue resolution and has constructed a fit-for-purpose product delivering actual worth.”