Strategic recapitalisation leaves Exterro valued higher than $1 billion
Exterro Inc. a portfolio company of Leeds Equity Partners (“Leeds Equity”), announced that it has completed a strategic recapitalisation and secured additional committed equity capital as part of a continuation vehicle transaction valuing Exterro at more than $1 billion (USD).
With the support of a group of global institutional investors co-led by Coller Capital and Glendower Capital, this transaction will enable Exterro to devote more resources to the growth of its Legal GRC portfolio of products through M&A and product development.
Exterro will continue to develop new initiatives for law firms and service providers, drive accelerated growth of its digital forensics product set and reinvest in its first-class global Training Academy, as it delivers new products to new geographies. As part of the recapitalisation, Leeds Equity has made a significant new equity commitment from its latest flagship fund, Leeds Equity Partners VII, L.P., alongside the continuation vehicle and management.
Exterro is a provider of Legal Governance, Risk, and Compliance (GRC) software, which provides deep data insights, workflow efficiencies, and process orchestration across e-discovery, digital forensics, data privacy, and cybersecurity use cases. The company operates in a large, fast-growing market with significant macro drivers, including increasing litigation volumes, the proliferation of corporate data, an increasingly complex regulatory environment, the convergence of data risks and the ubiquity of digital evidence in crime and terrorist activities.
“Since our last funding with Leeds Equity, global demand for Exterro’s Legal GRC platform has grown exponentially, fueling our product innovation as we’ve continued building best-in-class e-discovery, data privacy, forensics, risk, and compliance technologies,” said Bobby Balachandran, Founder and CEO of Exterro.
“As the lines between legal, finance, IT, and security departments blur, Exterro is in a unique position, offering the only platform that can effectively unify and address the data and the legal requirements of those disparate business silos. Leeds Equity has been an incredible partner in Exterro’s growth, and we are thrilled to continue our partnership with them as Exterro enters this new phase of growth.”
“Bobby Balachandran and the entire Exterro team have built an industry-leading business uniquely positioned to help enterprises manage and analyse data and drive actionable business intelligence. These are critical requirements to operating in the face of challenges across e-discovery, data privacy, cybersecurity, and forensic investigations,” said Jacques Galante, Partner at Leeds Equity Partners.
“We look forward to building on this great partnership as Exterro continues to capture the immense growth opportunity across its global markets.”