Mitratech Holdings, Inc. Strengths, Domain Expertise, and Key Differentiators
Mitratech functions as a valued technology partner for corporate legal departments and professionals in risk and compliance. It is dedicated to elevating productivity, controlling expenses, and mitigating risk by fostering organizational alignment, enhancing visibility, and encouraging collaboration across the enterprise.
Mitratech Holdings, Inc. Recent Developments
In January 2024, Mitratech introduces AI innovations like AI Text Summarization in TAP for streamlined decision-making. PlatoBI now includes the Legal Spend Dashboard for comprehensive insights. Achievements in 2023 include TeamConnect 7.1 enhancements, an AI Governance roadmap, Legal Hold integration with Microsoft Purview, and portfolio additions (Circa, Trakstar, Mineral, and Syntrio) to strengthen the compliance platform.
In May 2023, Mitratech partnered with Agiloft, a contract lifecycle management (CLM) provider, to integrate their solutions. This collaboration streamlines data exchange across contracts, documents, legal invoices, and more. Combining Mitratech's TeamConnect and Agiloft's CLM platform, it enhances visibility, decision-making, and productivity for legal teams. This strategic alliance reflects Mitratech's commitment to innovation and customer responsiveness, offering efficient data sharing and valuable insights for legal departments.
In October 2023, Mitratech partnered with Syntrio to integrate impactful courses into its HR solutions suite. Covering key areas like employment law, harassment, discrimination, and more, these courses empower organizations to foster positive cultures and ensure regulatory compliance. Mike Williams, Mitratech's CEO, emphasizes the partnership's significance in enhancing the employee learning experience and aiding organizations in risk mitigation and compliance.
In May 2021, Mitratech concluded the acquisition of AdvanceLaw. Operating as a unique market, AdvanceLaw brings together 300 of the world's top corporate general counsels (GC) to optimize the performance of law firm panels. The collaborative sharing of law firm performance data within the AdvanceLaw GC network results in superior outcomes for general counsels, providing high-performing law firms with revenue growth opportunities surpassing market averages.
In April 2020, Mitratech introduced four complimentary workflow templates to assist companies facing operational challenges due to the coronavirus outbreak. Additionally, the TAP Workflow Automation solution is now available at no cost for any enterprise until September 30, 2020.
Mitratech Holdings, Inc. Mergers and Acquisitions (M&A) Activities
In January 2024, Mitratech strengthens its market position with acquisitions of Syntrio and Mineral, enhancing its compliance suite. These additions offer a comprehensive solution, including an ethics hotline, HR platform, eLearning libraries, and regulatory alerts. CEO Mike Williams highlights their significance in addressing dynamic regulatory landscapes and reinforcing Mitratech's commitment to comprehensive compliance solutions.
In April 2023, Mitratech strengthened its HR solutions with the acquisitions of Circa and Trakstar, enhancing HR compliance and talent strategy offerings. Circa focuses on OFCCP and DEI software, addressing recruitment challenges, while Trakstar provides advanced talent acquisition and performance management solutions. These additions align with Mitratech's vision to empower organizations in navigating compliance and efficiency challenges, ensuring robust talent management for diverse HR needs.
In January 2022, Mitratech acquired Quovant, a spend management and legal bill review solution provider. With over two decades of industry expertise, Quovant streamlines legal bill review processes, offering transparency and efficiency. The integration into Mitratech's suite aims to provide customers with comprehensive spend visibility through a unified platform, emphasizing next-generation insights and collaboration. Quovant serves prestigious clients, including over 20% of the Fortune 50 and seven of the top 10 U.S. healthcare systems.
In July 2022, Mitratech acquired AssureHire, bolstering its HR software suite. AssureHire brings advanced automation and a thorough verification process for streamlined onboarding. Integrated with Mitratech's Tracker I-9, the acquisition aims to provide a unified and efficient candidate experience, addressing challenges in the job market.
In August 2022, Mitratech acquired TalentReef, a talent management platform for high-volume hourly hiring. With features like a rapid application process and AI chatbot, TalentReef enhances Mitratech's global platform for streamlined recruitment. This aligns with Mitratech's recent AssureHire acquisition for background screening. TalentReef will integrate with Tracker I-9 and AssureHire, ensuring compliant onboarding for hourly workers.
In May 2021, Mitratech concluded the acquisition of ContractRoom, a developer of contract lifecycle management (CLM) solutions. The integration of ContractRoom into Mitratech's comprehensive suite of end-to-end solutions, as highlighted by CEO Mike Williams, establishes Mitratech as the pivotal partner for legal operations professionals aiming to elevate collaboration and efficiency.
In January 2020, Mitratech accomplished the acquisition of ClusterSeven Ltd. This strategic integration involves pairing ClusterSeven's products with Mitratech's extensive governance, risk, and compliance solutions, creating the industry's first end-to-end solutions suite. This suite is specifically tailored to enhance organizations' efforts in data privacy and information governance. Acknowledging the pivotal significance of data privacy and meeting regulatory requirements related to information governance is imperative for ensuring the resilience and success of the business.
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
5001 Plaza On The Lake Suite 111
Austin, TX, 78746, United States
1 512-382-7322
https://www.mitratech.com/
Ownership: - x
Number of Employees: 700
Functional Markets: Collaboration, Content Management, ERP Services and Operations, Procurement, TRM,
Key Verticals: Automotive, Banking and Financial Services, Consumer Packaged Goods, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Life Sciences, Manufacturing, Faith-Based Nonprofit, Youth and Elderly Care, Oil and Gas, Chemicals, Professional Services, Retail, Utilities,
Mitratech Holdings, Inc. Key Enterprise and Cloud Applications
Mitratech TeamConnect, Mitratech LawTrack,
Mitratech Holdings, Inc. 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.
Mitratech Holdings, Inc. Revenue Breakdown By Type, $M:
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 | 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 |
Mitratech Holdings, Inc. Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
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| 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: 1800
No. of Mitratech Holdings, Inc. Enterprise Applications Customers: 1800
No. of Mitratech Holdings, Inc. Cloud Customers: x
No. of Mitratech Holdings, Inc. Cloud Subscribers: 500000
The company extends its services to a broad clientele of 1,500 global enterprises, engaging with over 500,000 users. Prominent clients such as Charles Stanley, Yahoo, NetApp, and Gilead Sciences, among others, contribute to the organization's reach, encompassing 30% of the Fortune 500. This extensive user base is distributed across 160 countries.
Mitratech Holdings, Inc. Market Opportunities, M&A and Geo Expansions
In June 2022, Mitratech appointed Ian Huynh as CTO, signaling a significant leap in technological advancement. Huynh's expertise strengthens Mitratech's position for innovation, aligning with the company's commitment to secure, scalable platforms in the legal and HR software domain.
In March 2021, Mitratech entered into a strategic investment arrangement with the Ontario Teachers’ Pension Plan Board (Ontario Teachers). Upon the finalization of the transaction, Hg, a leading global software investor and the primary stakeholder in Mitratech since 2017, will retain a minority interest. Concurrently, TA Associates will divest its minority investment in the company.
Mitratech Holdings, Inc. Risks and Challenges
Mitratech appointed Mike Williams as the Chief Executive Officer in November 2019. The future strategic direction of Mitratech under Williams' leadership is eagerly awaited.
Mitratech Holdings, Inc. Ecosystem, Partners, Resellers and SI
Mitratech has partnered with Keesal, Young & Logan (KYL) to streamline the implementation of standardization and compliance in legal processes. The company also collaborates with 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, KYL).
Mitratech Holdings, Inc. Cloud Infrastructure Insights
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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).
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