A new era of growth for Axiom
By Axiom Law
Today is an exciting day for Axiom, as we announce a milestone step in our journey to transform the way lawyers and legal departments work. Permira, the global private equity firm, will make a significant investment in Axiom to accelerate our momentum and global expansion, and help us quickly scale to meet increasing client and market demand and own the market for on-demand legal talent.
Many of you know Axiom as a pioneer in the gig economy for legal services. Early on we recognized that many in the legal industry are frustrated about how work is done, and the access they have to legal talent. That makes the space ripe for disruption. While disrupting a highly established and traditional space like this is an amazing opportunity, it requires specific focus and capital.
By partnering with Permira, we will now have access to Permira’s capital, expertise and extensive network. This will be a huge boost in supporting our goal to transform the legal talent space, creating even greater career opportunities for our employees and lawyers and empowering clients to access premier expertise. We can also further invest in our technology platform, which helps to identify, match and engage companies with talent, continue expanding our sales force to better meet the needs of current and potential clients, and leverage Permira’s international footprint to support our continued expansion in the U.S. and globally.
Over the past year, we considered a range of options to help us accelerate our growth and take advantage of the massive untapped market opportunity. That included our announcement in February 2019 that we would pursue an initial public offering. However, during this process we were able to explore an alternative path to those same objectives, via private investment. Our conversations with Permira revealed what we believe is a superior option for meeting our short- and long-term goals for growth and to transform the legal talent market.
Permira and Axiom share a long-term vision – that there is a better way for legal departments and lawyers to work. Together, we want to take the many powerful assets that uniquely position Axiom in the space – the world’s best and most diverse pool of legal talent, a unique culture of openness, inclusion and empowerment, and an enviable client roster – and build on them to truly transform the legal talent landscape. Permira is known for focusing on long-term growth instead of the short-term, holding its average portfolio company five years and making long-term investments in companies with the objective of transforming their performance and driving sustainable growth. We realized this was the ideal path forward for Axiom, our clients, attorneys and employees.
How will the investment be used?
As part of our growth strategy, we are excited to focus this investment on several key areas, including but not limited to:
- Cementing Axiom as a career destination by focusing on the needs of the lawyers and empowering them to thrive while pursuing more of the work they love
- Elevating Axiom’s capabilities to make legal departments more dynamic and access limitless expertise without compromise
- Leveraging technology to enable Axiom to seamlessly scale and introduce new services, including innovative ways to market expertise for better client-lawyer matching
- Fostering a culture of continuous reinvention to generate exciting developmental and career opportunities for Axiom employees
Looking toward the future
Axiom continues to outperform in the market, with double digit growth and an established brand that serves more than half of the Fortune 100. We have 20 years’ experience working in this space and have a curated talent pool of over 2,000 lawyers across seven countries and three continents. In short: Axiom has never been better positioned to help our clients succeed. Permira’s investment presents us with an immense opportunity to further grow and diversify our talent pool, develop new ways to serve clients, and launch our nascent technology platform. We look forward to working hand-in-hand with the Permira and Axiom teams as we realize our potential at an even faster pace.
For more information on today’s news, please read the full press release here. We look forward to updating you throughout our journey to transform the legal talent market.
Contract negotiation is a challenge for legal departments due to the large, uneven volume of work. Axiom’s lawyers can help empower legal teams with flexible, effective contract support.
Lawyer Naomi Gaffney has deepened her experience at Axiom where she practices financial law.
Axiom’s innovative approach to law attracts talented lawyers who want to do high-quality legal work with industry leaders worldwide.