Nexl secures $6.6m Series A to expand CRM for law firms

The news: Sydney software company Nexl has raised $6.6 million in a Series A round led by Shearwater Capital and EVP.

The numbers: The investment round brings Nexl’s total funding for 2023 to $10 million. Launched in 2021, Nexl is a CRM platform for law firms, now working with over 100 companies globally, including Australia's Big Six.

The context: Nexl made its debut as a “no-data-entry” CRM, later evolving into an all-in-one collaboration platform for law firms. The company said that funds raised from the Series A will go towards expanding its core market in the US and boosting its go-to-market capabilities.

What they said: Nexl's CEO and founder Philipp Thurner said: “This shift towards a more cohesive, business-like approach in law firms is something we’re proud to support. Our clients are the vanguard of this change, and our rapid progress, with two funding rounds in just twelve months amidst a tough VC climate, speaks volumes about our mutual success. This is not just about funding; it’s a clear indicator of the legal industry’s commitment to collaborative, data-driven strategies."