The leader in next-generation legal solutions formally known as Axiom Managed Solutions, Factor thrives on turning complex legal work particularly in relation to life sciences into a reliably well-oiled machine. Based in New York, Factor employs over 400 lawyers and contracts specialists who have negotiated over 1 million contracts through hundreds of client engagements. The fast-growing company has been blazing trails for a little over a decade and have built up a strong and loyal client base.
Factor appeals to its clients by shrugging off industry buzzwords like “sliver bullet” technology and focusing on grit and experience. A cursory tour of their website reveals that they are firmly anti-hype, preferring to rely on expert lawyers, smart tech, and “good old-fashioned hard work.” This devotion to diligence over flare is likely what attracted Carrick Capital Partners’ watchful eye.
Carrick, a software investment firm with over $1 billion in assets under management, recently announced a new investment in Factor. The new deal would multiply their previous investment while also making them the majority shareholder in the company. While the investment is said to be significant, the exact terms of the deal were not disclosed.
Varun Mehta, Factor’s Chief Executive Officer, noted that “Factor has the geographic reach, domain expertise and financial backing to provide our clients with the industry’s most innovative solutions. We fully expect to leverage this investment into larger opportunities, and more focus on our customers and our mission in transforming the way legal solutions are delivered for general counsel and the companies they serve.”
Factor plans to use the capital to amplify its footprint in the global marketplace, and rapidly increase development of customized, large-scale legal solutions for clients in the Life Sciences, Enterprise, and Financial Services industries. Factor made its mark the past few years as it assisted big-name clients in the financial and technology sectors achieve significant wins. They have also worked to develop strong industry partnerships with other providers of legal tech.
While not technically a regulated law firm itself, Factor employs those operating within general counsel and private law firms. As such, they can tackle myriad problems from the regulatory to the transactional, and is gearing up to expand its services even further.