Litify Strengths, Domain Expertise, and Key Differentiators
Founded in late 2016, Litify's singular platform built on Salesforce streamlines and automates task management, document generation, intake management, and client communications. The platform's key differentiators lie in providing data-driven insights, enabling law firms, in-house legal departments, government agencies, and nonprofits to scale and improve their financial performance securely and efficiently.
Litify Recent Developments
In July 2021, Litify made a significant geographical expansion by establishing its regional office in downtown Wilmington. This decision aligns with the broader trend of embracing remote work, as the majority of Litify employees operate remotely. Currently, 12 professionals are stationed in the Wilmington area, indicating a commitment to regional presence and community engagement.
In July 2019, Litify raised $50 million in Series A funding. The financing was used to fund Litify's continued growth and general operations, with a focus on expanding its offerings to a broader customer base, including in-house counsel, a corporate law offering for mid-to-large size firms, and an off-the-shelf solution for smaller-sized law firms.
Litify Mergers and Acquisitions (M&A) Activities
In June 2021, Litify completed the acquisition of LegalStratus, a Salesforce-based E-Billing solution. This strategic union leverages the collective resources and expertise of Litify and LegalStratus, poised to provide corporate legal departments, government agencies, and insurance providers with unprecedented transparency and integrated tools.
Regarding financial prowess, Litify raised an impressive $50 million in Series A funding in July 2019. This capital infusion was directed toward sustaining Litify's growth trajectory and bolstering its operational capabilities. Notably, the funding aimed at expanding Litify's offerings to a diverse customer base, ranging from in-house counsel to mid-to-large corporate and smaller law firms.
Litify Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Litify applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Litify and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Litify Platform customers.
Litify Overview
45 Main St. Suite 416
Brooklyn, NY, 11201, United States
1 718-305-4081
https://www.litify.com/
Ownership: - x
Number of Employees: 200
Functional Markets: Content Management, ERP Services and Operations,
Key Verticals: Federal Government, Life Insurance, P&C Insurance, Specialty Insurance, Professional Services,
Litify Key Enterprise and Cloud Applications
Litify Platform
Litify Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Litify Revenue Breakdown By Type, $M:
Litify Enterprise Applications Revenues By Functional Markets, $M:
Litify Enterprise Applications Revenues By Verticals, $M:
Litify Revenues By Region, $M
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Litify Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Litify Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Litify Customers
No. of Litify Customers: 350
No. of Litify Enterprise Applications Customers: 350
No. of Litify Cloud Customers: 350
No. of Litify Cloud Subscribers: 45000
With a customer base exceeding 350, Litify boasts an impressive clientele including Pond Lehocky, Your Florida Law Firm, Lynch Law Firm, The Ledger Law Firm, and HawkLaw. This diverse customer portfolio signifies Litify's ability to cater to various legal entities, spanning regions and industries.
Litify Market Opportunities, M&A and Geo Expansions
In March 2021, Litify has launched its own document management and generation product, timekeeping and billing solutions, a video conferencing application, and client portals. Built into the Litify platform, these new products further allow users to manage every aspect of their organization in one place. But while Litify has expanded its product suite and seen its user count reach nearly 45,000, seeing legal teams leverage the platform to grow rapidly is what excites the company the most.
In October 2019, Litify the Uplink technology of Lunar, an Orlando-based registered Salesforce partner. The acquisition furthers Litify's mission to deliver state-of-the-art legal technology. Litify will add one of Lunar's SaaS products, Uplink, to its software suite.
With the acquisition of Uplink, Litify customers will now be able to track all of their client communications, including text messages, within one system. Litify Inbox already integrates with Outlook, allowing law firms to easily save email threads to case records and create and complete tasks within Outlook.
Litify Risks and Challenges
Internal challenges, such as scaling operations to meet increasing demand, and external risks, including changes in government regulations, must be navigated adeptly. Go-to-market challenges could arise as the company extends its reach, necessitating a strategic approach to sustain its upward trajectory.
Litify Ecosystem, Partners, Resellers and SI
Litify's open architecture plays a pivotal role in its success, enabling seamless integration with other business-critical applications and data. The architecture facilitates information sharing and data construction through thousands of applications available via the Salesforce AppExchange. The robust ecosystem includes network effects with System Integrators and Value Added Resellers, contributing to Litify's continued growth and adaptability in the dynamic legal tech landscape.
Litify Cloud Infrastructure Insights
Subscribe to read more about:
- Litify Public Cloud and Infrastructure (IaaS)
- Litify Platform (PaaS)
- Litify Application Delivery
- Litify Private Cloud and Data Centers
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
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