VENICE, Calif., June 21, 2023 /PRNewswire/ -- Growth Street Partners today announced a minority growth investment in ECFX, the leading provider of electronic court notice management for law firms and corporate legal teams. The LegalTech Fund, a leading investor in innovative legal technology companies, also participated, as did Cove Fund and other existing investors. ECFX will use the $7M investment to expand its platform and further its leadership position in a rapidly adopting market.
ECFX was founded by Dan O'Day and Nelson Quintero, both lawyers and each with 25+ years of experience in the legal and legal technology industries. Many litigation firms still process notices manually, leading to increased risk and higher costs. Research has shown that over 50% of law firms report missing court notices. ECFX's platform solves this, as well as minimizes non-billable hours that docketing teams, legal assistants, paralegals, and lawyers spend manually downloading, profiling, and distributing information from ECF notices from state and federal courts. Any firm can calculate their potential savings using ECFX's ROI calculator.
ECFX is trusted by firms of all sizes across the country, including several Am Law 100 firms, such as DLA Piper LLP (US), Dentons US LLP, Cooley LLP, and Cole Scott & Kissane, P.A., which alone has processed 200,000 unique documents through ECFX this year.
"We are on a mission to help law firms reduce risk and increase efficiency," explained Dan O'Day, CEO and Co-Founder of ECFX. "Partnering with Growth Street positions us to continue building out our team, investing in our industry leading product, and further expanding our leadership position in this growing category," added Nelson Quintero, COO and Co-Founder of ECFX.
"Growth Street is excited to partner with Dan, Nelson, and the rapidly growing ECFX team," said Nate Grossman and Steve Wolfe, the Co-Founders of Growth Street Partners. "ECF notices are growing rapidly as court systems across the country continue to go digital, and law firms are wasting time and money manually processing these notices. ECFX has the broadest court coverage, easiest to use platform, and best customer service in the industry. It is clear why so many leading law firms are adopting the platform to manage this critical workflow."
In conjunction with the minority growth investment, Growth Street Partners will join the Board of Directors.
ECFX
ECFX was founded by legal and technology experts with a single goal: to address unmet automation needs in the legal industry. It is committed to filling in gaps in legal workflows with intelligently automated solutions, enabling firms to save time, gain control, mitigate risk, and improve visibility. Its premier product, ECFX Notice, automates the downloading, profiling, storing, and distribution of court documents in ECF notices for both state and federal courts — saving firms hundreds of hours a week to focus on the work clients value. Please visit www.goecfx.com to learn more.
Growth Street Partners
Growth Street Partners provides early growth capital to rapidly growing SaaS and technology-enabled services companies addressing underserved markets. The firm partners with founders who have personally lived through the problems their businesses solve. The firm has raised two funds and has over $200 million of assets under management. Investments include Pear Deck, LineLeader, Visual Lease, Hotel Effectiveness, Suralink, HR Acuity, Govenda, Pikmykid, PublicInput, uConnect, goHappy, PSTrax, and ECFX. If you are a founder from industry looking to scale your business without losing control or are simply interested in more information, please visit www.growthstreetpartners.com.
https://www.prnewswire.com/news-releases/ecfx-the-leading-electronic-court-notice-management-platform-raises-7m-from-growth-street-partners-with-participation-from-the-legaltech-fund-cove-fund-and-others-301856299.html
SOURCE: Growth Street Partners
