Nexl, a Sydney, Australia-based collaboration platform for law firms, has secured $6.6 million in Series A funding. The company has raised a total of $10 million in 2023, following a $4 million funding round in March.
SaaS Investors
The round was led by Shearwater Capital and existing investor EVP.
Shearwater Capital is an investment firm based in Edgecliff, New South Wales, that specializes in Venture Capital and Private Equity. The firm prefers to invest in early-stage and growth-stage companies.
EVP is a venture firm focused on early-stage B2B software companies in Australia and New Zealand.
Nexl Use of Funds
The new funding will be used to expand its presence in the United States and further develop its product.
About Nexl
Founded in 2019 by Philipp Thurner, Nexl is a business law legal tech startup that provides an all-in-one platform that combines CRM with relationship intelligence, email marketing, and project management. Nexl has been built specifically to service law firm needs, accounting for how lawyers work and the challenges other CRM solutions have encountered. It’s now being used by practices in Europe, the US, and in Australia, including the nation’s top six law firms.
Funding Details
Company: Nexl Pty Ltd.
Raised: $6.6M
Round: Series A
Funding Month: December 2023
Lead Investors: Shearwater Capital and EVP
Additional Investors:
Company Website: https://bol.nexl.cloud/
Software Category: Customer Relationship Management (CRM) Software
Source: https://www.startupdaily.net/topic/funding/business-law-legaltech-startup-nexl-apprehends-6-6-million-series-a/