Themis Solutions Raises $20 Million

Themis Solutions Inc. | BCBusiness
Themis plans to expand its workforce from 50 to 200 using funds from the latest investment round.

Vancouver startup raises $20 million for law-firm management software

Themis Solutions Inc. of Vancouver announced Tuesday that it raised $20 million in a venture capital financing led by Bessemer Venture Partners of Menlo Park, California.
The company’s cloud-based software allows small law firms to automate administrative tasks and securely access sensitive legal information via a web platform and to perform office tasks via mobile apps.
The company will use the funding to accelerate development of Clio, its core product, and to expand internationally as it grows its team from 50 to 200, according to CEO and co-founder Jack Newton. Themis is also looking to develop software products for industries beyond legal services, although not in the near term, says Newton, adding that concerns about privacy and security of online information have fuelled interest from small firms in North America and Europe.
This latest round will bring Themis’s funding to date to $27 million. Bessemer Venture Partners, an early investor in Skype, Staples and LinkedIn, was joined by previous Themis backers Acton Capital Partners and Point Nine Capital, and a new investor, Vancouver-based Version One Ventures.
According to Oelschig, Themis fits into his firm’s strategy of funding web-based software serving professions such as law, which have unique challenges.
Co-founded in 2009 by COO Rian Gauvreau and CEO Jack Newton, Themis moved from Alberta to Vancouver in its early days. Themis recently set up a data center and European headquarters in Dublin. Eighty per cent of Themis’s staff are currently in Vancouver, with the remainder divided between Dublin and Toronto.