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Sam Kidd, founder and chief executive of digital legal services company LawVu.
Photo: Supplied
LawVu, a tech startup that makes cloud-based software for in-house legal teams, has raised another $15 million to accelerate its global expansion.
Big-name New Zealand-based technology investment firm Movac made the investment to support LawVu’s expansion plans, and will also take a seat on LawVu’s board.
LawVu chief executive Sam Kidd said the money would help the company meet growing demand – particularly in Australia, the United States and the UK – with a global market expected to grow to US$40 billion by 2030.
“We’ve been relentless in extending our international foothold despite the economic headwinds,” Kidd said.
LawVu’s total funding to date now sits at around $55 million, with Movac joining Australia’s AirTree Ventures, United States’ Insight Partners and New Zealand’s Icehouse, which participated in previous funding rounds.
“Having Movac come on board with their support signals immense confidence in our mission, as we accelerate our global,” Kidd said.
Movac general partner Jason Graham said LawVu had continued to go from strength to strength.
“We knew LawVu was a natural fit within our growth fund portfolio,” Graham said.
“We look forward to our partnership with Sam and the team as they continue to pave the way as a global category leader, representing New Zealand on the world stage.”
Tauranga-based LawVu generated about 93 percent of its revenue from overseas markets.
The company had customers in 15 countries, with a number of large clients, including PWC, Telstra, Estee Lauder and Linktree.
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