TBA Law Blog

Posted by: Stacey Shrader Joslin on Sep 14, 2020

Eight years after it acquired the practice and case management provider MyCase, AppFolio has sold it to the private equity firm Apax Partners for $193 million. The deal is expected to close by the end of the third quarter. Apax Partners says it plans to support MyCase with increased investments in product development, sales and marketing, while maintaining all current employees. The move is the latest in a two-year period that has seen a flurry of activity around practice management software companies. In 2018, Tabs3 acquired CosmoLex to expand its cloud-based practice management tools. In 2019, Litify secured a $50 million investment to expand into the corporate legal and small to mid-sized firm market; Clio secured $250 million in funding; and Bill4Time entered the market, in large part due to an acquisition by PracticePanther. And this past June, Lexicon launched a standalone legal practice management platform. Law.com has the story from Legal Tech News.