NetDocuments to accelerate its growth thanks to the strategic investment of Warburg Pincus
SALT LAKE CITY, May 25, 2021 / PRNewswire / – NetDocuments, the leader in secure cloud content services and productivity platform for law firms, corporate legal teams and compliance departments, today announced that it has reached a definitive agreement for receive a significant investment from Warburg Pincus, a global growth investor, alongside existing investor Cove Hill Partners, LP (“Cove Hill”). Warburg Pincus acquires Clearlake Capital Group, LP’s (“Clearlake“) interest in NetDocuments.
Warburg Pincus’ investment alongside Cove Hill will support the rapid and continued growth and innovation of the company. Terms of the transaction were not disclosed.
For more than two decades, NetDocuments has innovated with its world-class content services and productivity platform. NetDocuments is used by over 3,150 professional and corporate legal services firms and most recently ad unprecedented growth in Q1 2021, continuing its record commercial momentum. The company will continue to be led by the CEO, Josh baxter, and the rest of the current management team.
“The partnership with Warburg Pincus offers enormous potential not only to strengthen relationships with existing clients, but also to exploit new opportunities and new markets to become the core software for legal professionals,” said Josh baxter, CEO of NetDocuments. “We are delighted to be working with Warburg Pincus and Cove Hill on the next phase of the company’s growth and would like to thank Clearlake for their close partnership with our team and for their strategic insight over the years. “
“NetDocuments effectively serves as a productivity platform for the legal community and is rooted uniquely in its commitment to customer service. The company’s solid background, coupled with a talented management team, has positioned it well for the acceleration. moving to the cloud, “said Andrew Park, Managing Director, Warburg Pincus. “We look forward to partnering with Josh, the team at NetDocuments and Cove Hill in bringing the company to its next chapter of growth,” added Alex Stratoudakis, Managing Director, Warburg Pincus.
“Cove Hill is delighted to welcome Warburg Pincus as an investor in the company. We are delighted to partner with them and the strong management team at NetDocuments to drive long-term growth,” said Jane levy vance, Director at Cove Hill.
“We have greatly appreciated our successful partnership with NetDocuments over the past four years as the company has grown into a leading SaaS platform for the legal industry,” said Prashant Mehrotra, a partner at Clearlake. “During this period, NetDocuments implemented a strategy to rapidly expand its product portfolio through organic R&D investments and expand its commercialization reach by strengthening sales and marketing leadership and resources. of the society. We thank the Cove Hill team for their success. collaboration, and we wish the NetDocuments team every success for the future. ”
Baxter concluded, “It’s about capitalizing on the company’s momentum and our reputation as a cloud platform for content and productivity. With a strong focus on growth and global reach, Warburg Pincus “represents a great new partner. This investment will accelerate both of us, organically and through M&A, nationally and internationally. With Cove Hill’s continued support, we have an exciting future ahead of us.” “
For more information on NetDocuments, please Click here.
Founded in 1999, with more than 3,150 corporate clients worldwide, NetDocuments is the legal industry’s most trusted cloud content and productivity services platform. Complete with state-of-the-art integrated security, compliance and governance solutions, NetDocuments offers document management, comprehensive collaboration and email management technology with disaster recovery, enterprise search, and topic focus capabilities. For more information on NetDocuments, click on here.
About Warburg Pincus
Warburg Pincus LLC is one of the world’s leading growth investors. The company has more than 60 billion dollars in private equity assets under management. Warburg Pincus has invested more than $ 22 billion in technology companies since its inception and is one of the most active growth investors in enterprise technologies and cloud platforms. Notable technology investments include BEA Systems, Nuance Communications, CrowdStrike, Avalara, Modernizing Medicine and Clearwater Analytics in the US, eSentire and Assent Compliance in Canada, Ziggo in the Netherlands, Network International in EMEA and Bharti Telecom in India. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested over $ 90 billion in over 930 companies in over 40 countries. The company is headquartered at new York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Bombay, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com.
About Cove Hill Partners
Cove Hill Partners is a long-term-oriented private equity firm focused on partnering with exceptional management teams to build cutting-edge technology and consumer businesses. the Bostona based company currently manages long-term funds with more than $ 2.5 billion the commitments of its investors and founders. The company was founded in 2017 by seasoned private equity investors to invest their personal capital alongside a small group of like-minded investors. Cove Hill has an innovative structure that provides the flexibility to enable a patient, focused and value-added approach in a small portfolio of long-term investments. For more information on Cove Hill Partners, see www.covehillpartners.com.
About Clearlake Capital
Founded in 2006, Clearlake Capital Group, LP is an investment firm operating integrated businesses in private equity, credit and other related strategies. With a sectoral approach, the firm seeks to partner with experienced management teams by providing patient and long-term capital to dynamic companies that can benefit Clearlake’s operational improvement process, OPS® The main target sectors of the company are technology, industry and consumption. Clearlake currently has around $ 35 billion of assets under management, and its principal investment directors have led or co-directed more than 300 investments. The firm has offices in Santa Monica and Dallas. More information is available at www.clearlake.com and on Twitter @ClearlakeCap.
Pincus of Warburg:
Sarah McGrath Bloom
Cove Hill Partners
Lambert & Co.