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LPO UnitedLex buys smaller rival LawScribe after growing 20% in 8 months

Legal Process Outsourcing (LPO)
Legal Process Outsourcing (LPO)
Legal process outsourcing (LPO) company UnitedLex, which is backed by Indian and Silicon Valley venture capital (VC) firms, has acquired Los Angeles-based LPO LawScribe giving it offices in Los Angeles, New York and Gurgaon, reported VCCircle.

LawScribe has been one of the smaller LPO players, focusing primarily on document review, intellectual property, corporate transactions and legal research.

UnitedLex was founded in 2006 in the US and has grown to a total headcount of 650 professionals across seven offices, with the majority being based in India, followed by the US and India.

In March 2010 UnitedLex won UK telecoms giant BT as a client, which would outsource part of its global in-house legal work to a team beginning with 15 lawyers in India. Back then the firm had a total legal headcount of only 550.

UnitedLex CEO Dan Reed told Legally India at the time that the LPO was targeting revenues of $35m to $40m by the next financial year in 2011.

UnitedLex is backed by India-based VC firm Helion Venture Partners and Silicon Valley-based Canaan Partners, reported VCCircle, having raised $5m in its second roun dof funding in 2008 following its series A round in 2007.

VCCircle wrote:

Earlier this year, knowledge process outsourcing (KPO) firm Integreon raised $50 million from Actis. Sequoia Capital India has backed Pangea3, while there are angel backed companies like Mindcrest (Ganesh Natarajan), and JuriMatrix (Jerry Rao).

The LPO industry is the fastest growing sub-sector in the Knowledge Process Outsourcing (KPO) domain, according to report by Evalueserve earlier this year. The LPO sector grew by 40% each year during the downturn and growth between 2010 and 2015 is expected to be approximately 26% annually. The annual revenue of the industry is currently at $300 million, and this is expected to reach $960 million by December 2015.

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