Runway Growth Capital closed a senior secured term loan of $40 million for Elevate Services, a law company that provides software and services to law departments of more than 10% of the Global 1000 and more than half of the Global 100 law firms.
The term loan will refinance existing debt and provide additional working capital for Elevate’s software-powered solutions, which include legal operations software; strategy, operational and technology consulting; legal staffing and practicing lawyers; contract management; compliance; e-discovery and document review; data breach response; medical economic damages litigation support; and legal spend management and invoice review.
“We are thrilled to join forces with such a dynamic company at the intersection of business and law,” Brad Pritchard, managing director of technology at Runway Growth Capital, said. “Elevate is modernizing the legal sector with powerful and practical tools that improve efficiency, work output and, ultimately, customer outcomes. We are excited to partner with them on their next phase of growth.”
“We selected Runway because of their track record partnering with management teams to build great companies,” Liam Brown, founder, chairman and CEO of Elevate Services, said. “That showed up in the way their team worked to understand our business to deliver ideal terms for capital to execute on the next stage of our strategy.”
