While valuations of public software-as-a-service businesses have been taking a hammering of late as investors cool on the sector amid a wider, post-pandemic tech stock sell-off, SaaS startups still need to raise funding to scale their budding businesses — or, well, they hope they’ll be able to do so on reasonable terms despite these wider market bumps.
Today, London-based Legl — a 2019-founded SaaS startup that sells tools to law firms wanting to digitize processes and automate workflows in areas like client onboarding, payments and compliance to support a more modern customer experience — is announcing the close of an $18 million Series B round, just over a year after it raised a $7M Series A.
The Series B was led by several technology investors, including existing investor Octopus Ventures (which led its Series A), although Legl isn’t specifying the round’s other backers. Previously disclosed investors in the business include Backed, Samaipata
