AffiniPay, Parent Company of LawPay, Acquires MyCase from Apax Funds
AUSTIN, TX (June 9, 2022) -- AffiniPay, the parent company of LawPay, announced today that it will acquire legal practice management software company, MyCase, from funds advised by Apax. This combination creates one of the fastest-growing integrated legal practice management software and payments companies, and strengthens both LawPay and MyCase’s commitment to serve all law firms and their clients.
The combined company generates an excess of $200 million in annual run rate revenue. As a high-growth and profitable business, AffiniPay’s acquisition of MyCase will accelerate the adoption of digitization for payments and legal practice management software.
“We are very excited to announce AffiniPay’s acquisition of MyCase. Together, MyCase and LawPay are uniquely positioned to meet the holistic financial and business needs of law firms,” said Dru Armstrong, Chief Executive Officer at AffiniPay. “For over a decade, our respective clients have trusted us to deliver innovative legal solutions that enable them to succeed as professionals. As a legal market leader, we believe in putting the law firm and their clients first; together, we remain focused on innovation, customer experience and partner integrations to ensure our clients continue to thrive.”
The MyCase suite of legal practice management software solutions will now be integrated with LawPay’s market-leading payments platform, both designed exclusively to serve attorneys. Together, LawPay and MyCase will now serve over 65,000 law firms, with over 200,000 legal professionals across the United States and Canada.
“At MyCase, we ensure our law firms can focus on what matters - serving their clients. We know that every law firm is unique and deserves solutions that are easy to implement and use,” said Jim McGinnis, Chief Executive Officer at MyCase. “We continue to invest in MyCase with new capabilities like MyCase Drive, MyCase Accounting and in platforms like CasePeer for Personal Injury firms and Soluno for billing and accounting. We would like to thank Apax, who has partnered with us to help innovate and accelerate our growth and are excited to be joining forces with LawPay in this next chapter. Together, we will take our combined solutions to the next level.”
The LawPay and MyCase integrated product will lead the legal tech market with the most comprehensive platform, including:
- Quickest payment turnaround time with firms receiving funds up to 39% faster
- The easiest legal practice management platform: new firms are up and running in under three days utilizing free data migration, a 9.5/10 customer rating on ease of use, and users save up to three or more billable hours per day
- Only recommended payment solution in the industry by all 50 state bar associations
- Best- in- class Net Promoter Score in the legal technology industry
- Widest range of payment options (Buy Now Pay Later, mobile app, QR Code, card scanner, text-to-pay) in the legal technology industry.
Moving forward, the two legal technology leaders will join forces to create a unified platform to power the modern law firm for legal professionals. The merged company will continue investing and expanding both existing and new integrated partnerships to give law firms the best choice in legal services and technology.
TA Associates supported the acquisition of MyCase with additional investment capital, and will continue as the majority owner of the merged company. The funds advised by Apax and certain MyCase employees will become minority investors alongside AffiniPay’s founder, Amy Porter, and certain AffiniPay employees.
“TA is excited to welcome the Apax funds as a meaningful investor in the combined company and to partner with them and the AffiniPay and MyCase teams to build a market-leading legal and professional technology platform,” said Roy Burns, a managing director and co-head of TA’s North American financial services. “Each business is a growth and innovation leader in software and fintech, respectively, and we are thrilled to provide the resources for the company to continue delighting their clients,” added Clara Jackson, a director at TA Associates.
“We have been proud to partner with Jim and the team to build MyCase into one of the preeminent brands in legal tech,” Umang Kajaria, a partner at Apax, said. “Since its carve-out less than two years ago, MyCase has meaningfully accelerated its organic growth while also expanding through strategic acquisitions to help thousands of law firms run their practices efficiently. We are enthusiastic about the future of MyCase and are delighted to partner with AffiniPay and TA Associates to continue innovating and serving our law firm customers.”
AffiniPay advisors included Lazard and Goodwin Procter LLP. MyCase advisors included William Blair and Simpson Thatcher & Bartlett LLP.
LawPay was developed specifically to help law firms streamline billing and collections, providing a simple, secure solution for legal clients to pay their bills. LawPay is the industry leader in legal payments, providing a cost-effective solution for more than 50,000 law firms around the country. It is available through all 50 state bars, 60+ local and specialty bars and the ABA as a vetted and approved payment solution for the legal industry. LawPay is also the ALA’s Exclusive VIP Partner for Payment Processing. Learn more at lawpay.com.
AffiniPay is the market leader in professional services payments serving legal, accounting, architectural, engineering and construction firms. AffiniPay has been recognized as one of Inc. 5000’s fastest growing companies for 10 years in a row. Each of its brands leads the market it serves with solutions purpose-built by industry including LawPay, ClientPay, CPACharge, and AffiniPay for Associations. AffiniPay’s solutions are trusted by more than 60,000 firms with more than 150 strategic partnerships and endorsements, including the American Bar Association and the American Institute of Certified Public Accountants. Visit affinipay.com to learn more.
MyCase is the all-in-one legal practice management software designed for the modern law firm. MyCase covers the entire client lifecycle with Lead Management, Case Management, Billing and Invoicing, and Robust Reporting. It includes market-leading features such as integrated MyCase Payments, 2-way text messaging, MyCase Client Portal to centralize client communication and MyCase Drive. The MyCase family of brands includes the broadest suite of legal practice management software solutions in the industry including MyCase, CASEpeer (Personal Injury), Soluno (Billing & Accounting), DocketWise (Immigration) and Woodpecker (Document Automation). Learn more at www.mycase.com.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
Apax Partners LLP ("Apax") is a leading global private equity advisory firm. For nearly 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.