Nexl Secures $23M Series B Funding to Accelerate Law Firm Growth Platform Innovation

As investments continue to flow into legal technology, the current beneficiary of this trend is Nexlan AI-powered CRM and “growth platform” for law firms, which closed a $23 million Series B funding round.

The round was led by Tidemark Capital, whose founder Dave Yuan said Nexl “represents a progressive function shift in legal CRM.”

“By merging relationship intelligence with CRM, they have created a rich user experience that occupies a true control point in the industry,” said Yuan, who serves on Nexl’s board of directors. “We are excited to partner with Nexl for the long term as they continue to become the go-to platform for law firms around the world.”

Founded in 2018, Nexl sets itself apart from traditional CRMs, the company claims, because of its ability to integrate relationship intelligence, revenue insights and market data within a single platform.

The platform is designed for use by a firm’s attorneys, marketers and business development teams, as a single firm-wide growth and CRM platform.

Nexl will use this financing to accelerate the development of this platform, pursue acquisitions and strengthen its management team.

“By partnering with Tidemark, Nexl not only gains capital, but also access to a playbook and community that has propelled some of the most successful vertical SaaS businesses in the world,” said Philipp Thurner, founder and CEO of Nexl.

“When every lawyer is empowered to contribute to growth and BD and marketing take their rightful place as strategic partners rather than support functions, firms unlock their true potential.

Nexl says its platform is used by more than 150 law firms worldwide.

Tidemark is known for its expertise in vertical SaaS, having developed the Vertical SaaS Knowledge Project and built one of the largest global communities of SaaS founders and operators. The firm also brings the legal industry perspective: at his previous firm, Yuan invested in LegalZoom, and at Tidemark, the team is also an investor in Clio.