September 6, 2019 | Published by Artificial Lawyer
Last night, pioneering on-demand lawyer service and ALSP, Axiom, announced that it had taken a significant investment from private equity (PE) fund, Permira. Artificial Lawyer spoke to San Francisco-based Senior Vice President & Head of Commercial for North America, David Pierce, about why there was no IPO as announced back in February, and what’s next following the new funding.
Elena Donio will stay on as CEO as Permira becomes the legal staffing behemoth's biggest stakeholder. Permira, the European private equity firm known for its investments in professional services businesses, has made a “significant” investment in legal staffing and services provider Axiom and will be the majority owner of the company, according to Axiom senior vice president David Pierce.
In what must be assumed to be a u-turn on its plans to float, Axiom today (5 September) announced that it has taken a “significant investment” from Permira, albeit the sum is as yet undisclosed. The Axiom management team, led by CEO Elena Donio, will continue in their current roles. You will recall that Permira is already active in the legal tech sector having taken a controlling stake in LegalZoom in 2014.
Axiom, one of the world’s largest alternative legal services providers, said today that it has entered into an agreement with private equity firm Permira by which a company backed by Permira funds will take a significant investment in Axiom.
The CEO of a company that calls itself 'the future of law' says she still can't escape sexism at work — but she's on a mission to prove mentorship can break the glass ceiling. Along with calling out sexism when she sees it, Donio tells women not to say "yes" to everything and to take time away from work if they want to spend it with their families.
The Seattle area has become known as an international technology and innovation hub, with first-rate tech companies, universities, and a thriving start-up scene all contributing to the city’s large and growing talent pool. We have an exclusive interview with Elena Donio, CEO of Axiom who speaks more on technology impacting the legal sector.