Nexl,
a
no-data-entry
CRM
platform
for
lawyers,
has
raised
$4
million
in
a
financing
round
led
by
Australian-based
B2B
venture
capital
firm
EVP
with
follow-on
participation
from
The
Legal
Tech
Fund,
Vulpes
and
Saniel
Ventures.
Nexl
said
it
will
use
the
investment
to
accelerate
the
development
of
its
core
product,
increase
acquisition
efforts
in
major
markets,
and
attract
industry
talent
to
build
out
its
fast-developing
ecosystem
for
partners
and
clients
alike.
Nexl
said
its
product
is
in
use
at
more
than
100
law
firms
in
37
countries,
including
such
firms
as
Eversheds, Wiersholm, Dentons, Bartier
Perry, Polsinelli,
and Al
Tamimi.
Read
more
about
Nexl
in
the
LawNext
Legal
Technology
directory.
Unlike
traditional
CRM
products,
Nexl
works
by
automatically
capturing
all
of
a
lawyer’s
interactions,
including
emails
and
meetings,
and
then passively
mapping
all
relationships
and
interactions
among
firm
members,
prospects,
and
clients
on
an
ongoing
basis.
The
company
was
founded
by
Philipp
Thurner,
who
previously
led
innovation
at
Gilbert
and
Tobin,
a
premier
Australian
corporate
law
firm.
He
had
the
goal
of
developing
a
relationship
platform
that
functions
in
environments
where
client
acquisition
activity
is
passive,
unstructured,
and
entirely
relationship
dependent.
“Relationships
are
everything
in
professional
services,
yet
the
management
of
these
relationships
usually
relies
on
decentralized
and
largely
disorganized
communication
and
information-sharing
practices,”
Thurner
said.
“Management
and
growth
teams
within
law
firms
will
generally
have
very
little
visibility
as
to
the
strength
of
individual
client
relationships
and
the
context
behind
each.”
Having
launched
its
platform
just
18
months
ago,
Nexl
said
that
raising
money
in
the
toughest
investment
climate
in
recent
memory
is
validation
of
its
thesis.