Dealcloser, a transaction management hub that eliminates the soul-crushing manual labor from the workflows of M&A and corporate legal professionals, today announces a new funding round of USD $2.5 million. The growth capital investment was co-led by Bryce Catalyst, the same fund that led Dealcloser's seed round in January 2021, and new investor Fernwood Holdings, with participation from other investors.
EDMONTON, Alberta, June 20, 2023 /PRNewswire-PRWeb/ -- Dealcloser, a transaction management hub that eliminates the soul-crushing manual labor from the workflows of M&A and corporate legal professionals, today announces a new funding round of USD $2.5 million. The growth capital investment was co-led by Bryce Catalyst, the same fund that led Dealcloser's seed round in January 2021, and new investor Fernwood Holdings, with participation from other investors.
The funding will allow Dealcloser to hire additional sales and marketing team members to bring Dealcloser to more law firms across North America and Europe. In addition, the company plans to develop the platform further to expand its capabilities so that it can serve customers in other verticals.
"Dealcloser is trusted by AM Law 200 firms, and our incoming investment will accelerate our mission to deliver a market-leading solution for the world's largest law firms," says Amir Reshef, CEO, Dealcloser.
"Since our last investment, Dealcloser has grown from a promising early-stage transaction management platform to a mature, all-in-one solution used by an impressive and growing list of firms," says Cary Burch, CEO, Bryce Catalyst. "With this additional investment, we are confident that Dealcloser will continue on its journey to becoming the most-used solution of its kind."
"We are excited to join the Dealcloser team as new investors in the company," says Bill Glenn, Partner, Fernwood Holdings, and former executive team member with Aderant. "Having witnessed firsthand the market gap the product fills, we believe the company is well-positioned to continue on its strong trajectory and establish itself as a market-leading solution."
Dealcloser has had a record-breaking year with the rapid adoption of its platform, seeing a 310% increase in deals created on its platform in the last 12 months. Dealcloser has also recently announced that legal tech veteran and serial entrepreneur Jag Dhariwal joined the leadership team as Chief Growth Officer at the end of 2022. Dhariwal was the co-founder and CEO of OLAP Vision, a business he successfully exited to Thomson Reuters in 2018. Dealcloser also recently released integrations with DocuSign, iManage and NetDocuments, along with many improvements to their software such as introducing signing packages to those who prefer signing with wet ink. To learn more or to book a personalized demo, visit dealcloser.com.
About Dealcloser
Dealcloser is a software made for corporate legal professionals at all levels, at all firm sizes, at each stage of the deal closing process. While other popular transaction management platforms can handle the basics, Dealcloser offers the most streamlined deal-closing experience. From project checklists and version control to e-signatures and closing binders, everything is handled directly on the Dealcloser platform.
About Bryce Partners
At Bryce Partners, we have an affinity for closely held and operator-owned companies; and we believe that beyond profits, aligned interests and shared purpose are true measures of a successful partnership. We seek to unlock the value of each business. With decades of experience, we bring collaboration, guidance, resources, operational cadence and a solid strategy. We believe that now is the time to leverage our operational experience and tap into companies that are poised to scale and take an actionable role to help them grow to create collaborative value. Demand for these companies is exploding due to the current political, global economy and COVID-19 environments that are having a profound impact on Cyber Security, LegalTech and RegTech. A perfect time to start a new venture. This is why we have created Bryce Catalyst as our investment company, managed by Bryce Partners and a stellar group of operating executives.
About Fernwood Holdings
Fernwood Holdings is a venture capital firm offering both investment and hands-on operational support to a portfolio of early and growth stage companies. Fernwood focuses its investment activity on hyper-growth innovators in the human capital productivity, cyber-security and creator-economy verticals. Fernwood founder Tim Crow led an accomplished career spanning more than 25 years in human capital management for leading companies. From 2007 to 2017 Mr. Crow served as Chief Human Resources officer for The Home Depot, the world's largest home improvement retailer. Working alongside Mr. Crow is Bill Glenn, a former executive of Aderant, a leading legal practice management software provider. Mr. Glenn has deep experience across growth stage investing, M&A transactions, and technology company operations.
Media Contact
Rachel Jordan, Dealcloser, 619-572-9876, [email protected]
SOURCE Dealcloser
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