15 Minutes With Axiom's General Counsel
September 3, 2019
Published by Law 360
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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.
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.
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.