Combined businesses focus on practice management technology needs of mid-market law firms
AUSTIN, Texas & SAN FRANCISCO--(BUSINESS WIRE)--Actionstep, the cloud-based practice management platform for law firms, announces that it has acquired the legal software business, LawMaster. The transaction brings together two innovative practice management software companies serving the needs of mid-market law firms. The combined businesses will drive additional technology investment, consolidate many years of learnings in legal tech and provide existing LawMaster customers with extended cloud technologies.
The deal combines more than 50 years of pioneering legal tech development and legal sector knowledge. Together, Actionstep and LawMaster provide a scaled legal tech company with plans to further invest in technology specifically for mid-market law firms.
Actionstep has accelerated its growth in the legal practice market globally with its market leading and powerful cloud-based offering, providing a highly adaptable, all-in-one practice management platform. In 2020, Actionstep received a significant investment from Serent Capital to support the company’s global expansion. With almost 20,000 daily subscribers, Actionstep has achieved significant scale and continues to invest in the development of its technology for the growing mid-market segment.
Stewart Lynn, Partner at Serent Capital added, “We have been tracking LawMaster for a number of years, so when we had the opportunity to bring together LawMaster with Actionstep we immediately saw the opportunity to create an industry-leading platform.”
LawMaster’s customer base of nearly 4,000 daily subscribers is made up of many prestigious Australian firms in the upper mid-market. LawMaster’s primary product is a feature-rich, highly configurable legal practice management solution. Prior to the deal, LawMaster has been investing in cloud technologies and successfully launched Mattero, a strong cloud-based practice management system for smaller practices.
The combination of LawMaster and Actionstep means the new business services over 11,000 subscribers in Australia alone.
The two companies will continue to operate as separate businesses with David Toohey, the founder and CEO of LawMaster continuing to lead LawMaster. David has spent over 40 years developing market leading, functionally rich technology for law firms. This transaction gives LawMaster customers and team members an opportunity to be part of a global business and an exciting future technology investment plan.
The new business will work closely with all LawMaster customers to ensure the continuation of Blue Ribbon quality service and understand their current and future technology requirements.
David Hepburn, Global President of Actionstep commented, “We are excited to join forces with LawMaster, this brings together two amazing companies in the legal tech space, positions us for further growth and will fuel major technology investment to benefit the legal industry. Our priority as a business is to ensure our combined customers enjoy using our software - both day to day and in support of their future business plans.”
David Toohey, CEO, LawMaster commented, “Today begins an exciting new chapter and we are thrilled to be joining the Actionstep team. As ever, we will remain focused on our customers’ needs and building market leading and innovative technology. Under one company with one set of values and a shared roadmap, the unified team can focus on propelling our customers’ businesses to new heights.”
Actionstep is a fast-growing, dynamic SaaS business with a global customer base and team. Actionstep provides an adaptable, all-in-one legal practice management platform for modern mid-market law firms. Built in the cloud, with workflow at its heart, Actionstep streamlines legal productivity at every step.
Actionstep gives law firms all the tools needed to run a firm with clarity and confidence by combining Matter Management, CRM, Document Assembly & Storage, Time & Billing, Trust & Office Accounting, Reporting and much more in one complete system.
With unlimited scope to adapt and evolve, Actionstep’s legal practice management software takes law firms every step of their journey as thriving legal practices. www.actionstep.com
The LawMaster group has developed and supports two leading legal practice software products - LawMaster® and mattero™, which provide management solutions for different practice needs.
LawMaster® offers a comprehensive practice management software solution for high volume, commercial legal enterprises. LawMaster®’s fully integrated, intelligent functionality, designed for complex and interrelated matter management, improves visibility and automates administrative tasks to upgrade law firm performance and productivity.
mattero™ provides an intelligent mobile solution that simplifies matter management to maximise performance and legal-life balance. The mattero™ cloud-based tool easily adapts as caseload grows or practitioners may transfer their database to LawMaster® if a larger scale solution is required. www.lawmaster.com.au/
About Serent Capital
Serent Capital invests in growing businesses with compelling solutions that exceed customer needs. As businesses grow and evolve, the opportunities and challenges they face change with them. The principals at Serent Capital have firsthand experience navigating growth through their experiences as CEOs, strategic advisors, and board members to successful businesses. Serent leverages their expertise and capital to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.