Exterro eyes IPO in 2023 on crossing significant $1 billion valuation mark

27 Jul 2022 , 12:02 PM

Exterro, a legal governance, risk, compliance software, and portfolio company of Leeds Equity Partners, stated that it secured an undisclosed amount of equity capital commitment, taking the company’s valuation at over $1 billion.

The funding round was jointly led by institutional investors Coller Capital and Glendower Capital. Leeds Equity also made a significant new equity commitment from its latest fund Leeds Equity Partners VII to the company.

The company intends to utilize these resources to streamline more resources for the growth of company’s Legal GRC portfolio of products via M&A and product development.

Exterro strives to continue its journey to develop new initiatives for law firms and service providers and expand the reach of its digital forensic products. Further, it aims to expand its presence to new geographies by delivering its new products.

The company further stated that it is targeting an IPO in 2023. It believes that for now, it has everything in place from high growth, profitability, and strong cash flows as its major strengths. All these factors will enable the company to go public with ease when the company determines the right timing.

Exterro carries on its Research & Development activities in a Coimbatore facility in India, under the leadership of Kavitha Thangasami, Chief Research and Development Officer.

Company’s global employee base comprises over 50% of the Indian workforce, and the company envisages a double increase in Indian hiring next year.

As per the company, the Indian market is one of its most prominent areas for significant growth, and it is seeking to build a concrete team to capitalize this opportunity.

Since 2018, after a major investment from Leeds Equity, Exterro managed to quadruple its revenue and now has an attractive base of over 3,000 active customers around the world.