Exterro Completes Major Strategic Recapitalization of Over $1 Billion

Mumbai, India – July 28, 2022 – Exterro, Inc., a portfolio company of Leeds Equity Partners (“Leeds Equity”), today announced that it has completed a strategic recapitalization and raised additional committed equity in a value-enhancing continuation vehicle transaction Exterro to more than 1 billion dollars (USD). With the backing of a group of leading global institutional investors co-led by Coller Capital and Glendower Capital, this transaction will allow Exterro to focus more resources on growing its Legal GRC product portfolio through mergers and acquisitions and product development. Exterro will continue to develop new initiatives for law firms and service providers, accelerate the growth of its digital forensics product set, and reinvest in its premier 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, LP, alongside the continuation vehicle and management.

Exterro is a leading provider of Legal, Risk, and Compliance (GRC) governance software, delivering deep insights into data, workflow efficiency, and process orchestration in critical cases. use of electronic discovery, digital forensics, data privacy and cybersecurity. The company operates in a large, fast-growing market with significant macroeconomic drivers, including increasing litigation volumes, the proliferation of enterprise data, an increasingly complex regulatory environment, the convergence of data risks and the ubiquity of digital evidence in criminal 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 continue to develop the best technologies in eDiscovery, data privacy , forensics, risk and compliance,” said Bobby Balachandran, Founder and CEO of Exterro. “As the lines between legal, financial, IT and security departments blur, Exterro is uniquely positioned to offer the only platform that can unify and effectively address the data and legal requirements of these disparate business silos. Leeds Equity has been an incredible partner in Exterro’s growth, and we are delighted to continue our partnership with them as Exterro enters this new phase of growth.

Since Leeds Equity’s initial investment in 2018, Exterro has more than quadrupled its revenue and now serves more than 3,000 clients worldwide. Exterro’s concerted growth strategy has focused on organic product innovation, geographic expansion, and strategic mergers and acquisitions, including the acquisition and integration of Jordan Lawrence and AccessData. It also included significant R&D investments in e-discovery, privacy, digital forensics and incident management, as well as investments in the Exterro team. These business-critical activities are integrated with Exterro’s industry-leading Legal GRC platform, which was purpose-built to manage the convergence between legal operations, litigation support, compliance, breach response and internal investigations. In addition to Exterro’s corporate markets, the company has also increasingly served forensic science departments, providing increased efficiency to agencies experiencing budget and personnel constraints, most recently with the West Indian Police Department. UK midlands.

“Bobby Balachandran and the entire Exterro team have built an industry-leading company uniquely positioned to help companies manage and analyze data and generate actionable business intelligence. These are essential requirements to operate against the challenges of eDiscovery, data privacy, cybersecurity and forensic investigations,” said Jacques Galante, partner at Leeds Equity Partners. “We look forward to building on this tremendous partnership as Exterro continues to seize the immense opportunity for growth in its global markets. »

Mr. Balachandran originally founded Exterro in 2008 with the belief that the legal industry would benefit from, and there was huge demand for, process improvements that could be learned from lessons learned in other industries. Today, Exterro offers the only Legal GRC platform for enterprises – which include global companies such as Boeing, United Healthcare, American Express, Aflac and Oracle – to mitigate risk, control costs and have complete visibility of end-to-end on their legal processes. . Exterro has won numerous industry awards and accolades including Global InfoSec Awards, Best Forensic Product (2022), KM World Reader’s Choice Awards, Best e-Discovery (2021), LegalTech Breakthrough, LegalTech CEO of Year (2021), and more. The company also contributes to many civic causes led by its Exterro Gives Back initiative, which supports several organizations including Women Entrepreneurs of India, Operation Child in the US, Safe Escape in the UK and the LifeRay Foundation. . , to only cite a few.

“The legal GRC industry continues to be very attractive given the favorable macroeconomic conditions, and we are proud to continue our strong partnership with Exterro to strengthen its leading position in the market. We are excited to continue to support the business through organic investments and strategic mergers and acquisitions,” said Kevin Malone, Principal at Leeds Equity Partners.

Jefferies Financial Group, Inc. acted as financial advisor, while Kirkland & Ellis and Reed Smith acted as legal advisors on the transaction.