Mitratech Holdings, Inc. Strengths, Domain Expertise, and Key Differentiators
Mitratech is a technology partner for corporate legal departments and risk and compliance professionals seeking to raise productivity, control expense, and mitigate risk by deepening organizational alignment, increasing visibility, and spurring collaboration across the enterprise.
Mitratech Holdings, Inc. Recent Developments
In May 2021, Mitratech has acquired AdvanceLaw. AdvanceLaw is a unique market through which 300 of the world’s most innovative corporate general counsels (GC) create and manage more effective law firm panels by sharing law firm performance information within the AdvanceLaw GC network. This creates superior outcomes for the general counsels and offers above-market revenue growth opportunities to top-performing law firms.
In April 2020, Mitratech has released four new workflow templates, available free of charge to any company facing operational challenges created by the coronavirus outbreak. In addition, the TAP Workflow Automation solution itself is now available free of charge to any enterprise until September 30, 2020.
In 2019, Mitratech formed the Workflow Solutions business unit. The Workflow Solutions Unit will bring more ownership and tighter control over Mitratech’s TAP product, so decisions can be made quickly and a higher level of service provided to those customers who rely on TAP to manage key legal services and operations. This seemed to be necessary since TAP was being used in 600 unique cases, double since Mitratech’s acquisition of TAP in 2018.
At the beginning of 2019, Mitra launched LegalHold, SaaS solution for end-to-end management of the legal hold process, enabling both defensible mitigations of litigation risk and improved outcomes. LegalHold was built in partnership with over 40 corporate legal department clients.
Mitratech Holdings, Inc. Mergers and Acquisitions (M&A) Activities
In September 2021, Mitratech acquired governance, risk management and compliance platform provider, Alyne.
Alyne leverages next-generation artificial intelligence to uniquely connect corporate legal and compliance functions, empowering professionals on both sides to assess, monitor, report, and act on all relative risks within the enterprise, including ESG management. The combination of Alyne and Mitratech brings a game-changing solution to the legal, risk and compliance industry.
In May 2021, Mitratech acquired ContractRoom, a developer of leading contract lifecycle management (CLM) solutions. "When ContractRoom is combined with Mitratech's proven portfolio of end-to-end solutions, Mitratech becomes the only partner that legal operations professionals need for enhancing collaboration and efficiency," said Mike Williams, CEO of Mitratech.
In July 2020, Mitratech acquired Tracker Corp, the foremost provider of SaaS I-9, E-Verify, and immigration management solutions. This will uniquely equip Mitratech to help organizations overcome the challenges of increased government scrutiny, remote workforces, inefficient immigration management, and painful and costly manual staffing processes.
In June 2020, Mitratech acquired CMPG, LLC. By adding CMPG's products to its existing Enterprise Compliance Suite (ECS), Mitratech will reinforce what's already the first-ever end-to-end range of software solutions for elevating corporate risk management, data privacy, and information governance.
In January 2020 Mitratech acquired ClusterSeven Ltd. By offering their products alongside its existing governance, risk, and compliance solutions, Mitratech will provide the first-ever end-to-end solutions suite specifically aimed at elevating companies’ data privacy and information governance efforts. Safeguarding data privacy and satisfying information governance-related regulatory requirements are essential to business survival and success.
By adding solutions from ClusterSeven to a proven family of products that includes CMO, PolicyHub, DataStore, and TAP Workflow Automation, Mitratech now supplies a full spectrum of the tools needed to ensure data privacy, empowering information governance, satisfy regulatory oversight, and gain competitive advantage.
In 2017, HGCapital made a strategic investment in Mitratech, TA Associates, which invested in Mitratech 2 years prior, will continue to retain a minority interest in Mitratech.
Mitratech Holdings, Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Mitratech Holdings, Inc. 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 Mitratech Holdings, Inc. 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 Mitratech TeamConnect, Mitratech LawTrack, customers.
Mitratech Holdings, Inc. Overview
Ownership: - x
Number of Employees: 400
Functional Markets: Collaboration, Content Management, ERP Services and Operations, Procurement, TRM, IaaS,
Key Verticals: Automotive, Banking and Financial Services, Consumer Packaged Goods, Education, Government, Healthcare, Insurance, Life Sciences, Manufacturing, Non Profit, Oil, Gas and Chemicals, Professional Services, Retail, Utilites,
Mitratech Holdings, Inc. Key Enterprise and Cloud Applications
Mitratech TeamConnect, Mitratech LawTrack,
Mitratech Holdings, Inc. Revenues, $M:
| Type/Year | 2019 | 2020 | 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.
Mitratech Holdings, Inc. Revenue Breakdown By Type, $M:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Mitratech Holdings, Inc. Enterprise Applications Revenues By Functional Markets, $M:
Mitratech Holdings, Inc. Enterprise Applications Revenues By Verticals, $M:
Mitratech Holdings, Inc. Revenues By Region, $M
| Region | % of Total Revenues | 2020 Total Revenues, $M | 2020 Enterprise Applications Revenues, $M | 2020 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
Mitratech Holdings, Inc. Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Mitratech Holdings, Inc. Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Mitratech Holdings, Inc. Customers
No. of Mitratech Holdings, Inc. Customers: 1500
No. of Mitratech Holdings, Inc. Enterprise Applications Customers: 1500
No. of Mitratech Holdings, Inc. Cloud Customers: x
No. of Mitratech Holdings, Inc. Cloud Subscribers: 500000
The company serves a total of 1,500 client companies of all sizes across the globe, and over 500,000 users representing 30% of the Fortune 500 and over 500,000 users in over 160 countries. Among its customers are Charles Stanley, Yahoo, NetApp, Gilead Sciences and many others.
Mitratech Holdings, Inc. Market Opportunities, M&A and Geo Expansions
In March 2021, Mitratech has agreed to a strategic investment from Ontario Teachers’ Pension Plan Board (Ontario Teachers). Following completion of the transaction, Hg, a leading global software investor and the majority investor in Mitratech since 2017, will retain a minority interest. TA Associates will sell its minority investment in the business.
Mitratech achieved record financial results and profits in 2019, as well as a key acquisitions to bolster its product lineup, changes to its leadership team and additions to its global partnership network. The company credits its 2019 fiscal success to meeting the rising market need for best-in-class technology with proven track records and ROI. Beyond financial results, Mitratech saw growth of its worldwide client base; by the end of 2019, six of the top 10 global financial institutions utilized Mitratech enterprise legal management solutions.
In April 2018, Miratech acquired ThinkSmart LLC, creating an end-to-end platform designed to transform legal operations. With the addition of ThinkSmart and the ThinkSmart Automation Platform, Mitratech’s TeamConnect platform brings people, processes, and information together, by leveraging TAP’s easy-to-use workflow automation engine to extend TeamConnect’s reach across the entire enterprise. TAP Workflow Automation empowers Mitratech customers to automate nearly any repetitive manual legal, compliance, or risk process, enhancing their agility and responsiveness, improving performance and compliance, and accelerating ROI.
Mitratech Holdings, Inc. Risks and Challenges
Mitratech welcomed Mike Williams as new CEO, in November 2019. The next stage of Mitratech’s strategy under William’s leadership is yet to be unveiled.
Mitratech Holdings, Inc. Ecosystem, Partners, Resellers and SI
Mitratech partnered with Keesal, Young & Logan (KYL) to help a greater number of legal professionals quickly implement standardization and compliance across a wide range of legal processes. Additionally, Mitratech has Channel Partners (Anchor Consulting, TSG, Savannah, Union Systems ltd, Finastra), Technology Partners (Oracle, SAP, Adobe, DocuSign, Salesforce), and Service Partners (Duff & Phelps, Consilio, Morae Global, Kranium Consulting, Keesal, Young & Logan (KYL)).
Mitratech Holdings, Inc. Cloud Infrastructure Insights
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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).
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