Athennian emerges from stealth, receives $8 million in latest funding round
Athennian, a provider of cloud-based legal entity management software, has emerged from stealth to reveal an $8 million Series A investment that will accelerate product-led growth and invest in scaling Athennian’s cloud infrastructure to support its growing global customer base.
This round was led by Arthur Ventures, and supported by Round13 Capital, InterGen Capital, and ATB Financial, as well as existing investors Thin Air Labs, BlueSky Equities, Viewpoint Capital, Strategic Equities, and others. A previously unannounced $2 million seed financing round from Q3 2019, brings the total level of funding to $10 million.
Athennian’s software is used by legal departments and professional services firms to automate subsidiary and entity management.
“The legal entity management market has very high barriers to entry that protected on-premise incumbents operating like monopolies for decades. Athennian brings the first, true enterprise cloud platform with consumer-grade user experiences into the category,” said Adrian Camara, CEO of Athennian. “Our revenue acceleration reflects the hard work our team and customers have undertaken to transition that data and workload into the cloud.”
Legal entity management software has historically been used to centralize director, officer, shareholder, tax, and other entity data to create a single source of truth.
To add efficiency, Athennian integrates document generation, e-signatures, e-filing, and project management to automate workflows, such as entity formation, appointments, transactions, and annual compliance.
“Businesses are operating in an increasingly volatile, uncertain and complex environment. As a result, in-house legal teams and paralegals have seen their workloads increase dramatically, driving a need for more automation,” said Patrick Meenan of Arthur Ventures. “Athennian’s rapid growth is a testament to their market-leading product. Arthur Ventures is thrilled to lead this financing round.”
For more information about this news, visit www.athennian.com.