Maples Advises Brightflag on its US$28 Million Equity Fundraising
09 Dec 2020
Maples and Calder (Ireland) LLP, the Maples Group's law firm, is pleased to have advised Brightflag on the Irish corporate legal aspects of its US$28 million equity fundraising led by One Peak Partners.
Brightflag is an Irish technology company that uses artificial intelligence to help legal firms manage their spending. One Peak Partners led this investment funding round with long-time backers Sands Capital Partners, and Dublin-based Frontline Ventures and Tribal VC also participating. Brightflag will use the funds to expand its international footprint while accelerating product innovation to sustain its best-in-class customer experience.
Brightflag has developed software that uses text analysis to read and understand legal invoices. This information can then be used to generate savings for big corporations that typically spend many millions on legal fees. Their software has helped brands like Dropbox, Volvo, and AccuWeather better evaluate law firm performance, refine resourcing strategies, and sharpen financial forecasts.
A team based in the Group's Irish office advised Brightflag and was led by Colm Rafferty, a Partner and co-head of the Irish Corporate practice, who was assisted by Of Counsel, Jordan O'Brien and Associate, Éanna Malone.
Commenting on the transaction, Colm Rafferty said: "It was a great to work with Alex, Ian and Sinead of Brightflag on such an exciting deal which illustrates how AI is beginning to transform even the most traditional of industries."
Read more about this innovative transaction at: The Irish Times.
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