Morae Receives New Funding from BlackRock
Houston, Texas – Morae Global Corporation, the global leader in digital and business transformation for the legal industry, today announced the company has completed a new financing from certain funds and accounts managed by BlackRock, a global investment management firm. As part of the transaction, existing investor Lateral Investment Management (“Lateral”) has become the company’s majority shareholder, alongside BlackRock as senior lender and minority shareholder. The funding will provide Morae with growth capital to further expand its market presence and capabilities and to execute on strategic acquisitions to help its clients with more comprehensive solutions.
“The closure of this new funding marks a milestone in Morae’s remarkable journey and in our mission to transform the legal industry through our vision, people and technology,” said Shahzad Bashir, Chairman and CEO at Morae. “We are grateful to our new and existing investors for their commitment and support which adds momentum for the next stage of Morae’s continued growth and development. We plan to announce a new acquisition which will expand the scale of our operations, service capacity and market share for the delivery of technology-enabled solutions for law firms and corporate legal departments.”
Zachary Viders, Managing Director, Global Credit Opportunities at BlackRock said, “We are very excited to invest in Morae, which has established itself with a unique brand and valued reputation as a global provider of digital and business transformation solutions for the legal, compliance, and risk management markets. We were impressed with the company’s leadership team and vision, business strategy and their tangible capability to deliver the outcomes their clients care about most.”
Richard de Silva, Managing Partner, at Lateral said, “We congratulate Morae’s leadership and BlackRock on the successful completion of this financing. Shahzad and the rest of the Morae team have a great vision and plan for growth supported by a solid foundation they’ve built as a trusted provider of strategic advisory services and transformational solutions tailored to the needs of their corporate and law firm clients. We are excited to continue supporting Morae on their journey.”
Bashir added, “As we look to the future of legal services, we see a fundamental shift and growing market opportunity across the legal ecosystem. What remains unchanged is our singular focus on our clients and our people globally – the ‘outside in approach’ behind our OneMorae vision.”
Founded in 2015 by industry veterans, Morae has grown from its initial roots in strategic advisory services to include a comprehensive range of technology-enabled and managed services from offices across four continents. Along with its organic growth, a series of M&A deals served to accelerate this growth, including a 2017 merger with Clutch Group and acquisitions of AegisAdvantage (2017), Phoenix Business Solutions (2019), Janders Dean (2020), and Trinogy Systems (2021).
Throughout Morae’s growth, the company has cultivated strong industry partnerships and a OneMorae culture within, including the quick and welcoming integration of new teams. The company has recently been recognized for its service excellence with a series of prestigious awards, including as an ACC Value Champion, winner of the LegalWeek Innovation Awards, and various partner awards.
To learn more about Morae’s history, vision and mission, visit us at moraeglobal.com/about.
Morae Global Corporation is trusted worldwide by leading law firms, legal departments, and compliance executives for the delivery of digital and business transformation solutions. Founded in 2015 by pioneers in the legal operations field, our vision is to execute legal + business strategies, resulting in lasting change, value and protection. Morae’s clients regularly refer us to their peers, our people stay with us, and our services keep clients ahead of what’s next. Morae offers the right people and technology needed by legal professionals across globe, from our offices on four continents. Learn more at moraeglobal.com.
Lateral Investment Management is a private investment firm that enables transformational growth at owner-operated middle market businesses through customized credit and private equity strategies. We focus on partnering with successful business owners who have high conviction in their future growth and companies that have reached an inflection point where they need substantial capital and support to scale to the next level. Headquartered in San Mateo, California, Lateral targets “first institutional growth opportunities” across North America in the manufacturing, healthcare, infrastructure and technology verticals. For more information, visit http://www.lateralim.com.
Eric Feistel Director, Marketing at Morae
+1 713 364 6190 [email protected]
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