LeanLaw, a company that provides a financial operating system for small and mid-sized law firms, said today it has raised $4 million in a Series A financing round led by FINTOP Capital.
Based in Boise, Id., LeanLaw’s cloud-based product provides IOLTA trust accounting, time and expense tracking, billing, matter management, electronic payments, and reporting.
LeanLaw integrates and synchronizes with QuickBooks Online, which it says makes it an ideal option for small and mid-sized law firms that use QuickBooks Online.
Learn more about LeanLaw in the LawNext Legal Technology Directory.
“With cloud-based billing and invoice workflows, law firms will see invoices paid 70% faster with LeanLaw’ streamlined accounting workflows” said Jonathon Fishman, CEO of LeanLaw, in a press release announcing the investment.
“LeanLaw’s greatness comes from understanding the cross section of what we can automate, integrate and what are the data opportunities. FINTOP’s investment will accelerate our ability to deliver product innovation, bringing even more value to our clients.”
The company says it will use the funds “to become a competitive challenger to legacy legal tech and to move forward with its fintech integrations.”
Chris Haley, partner at FINTOP Capital, who will join LeanLaw’s board, said he believes that the next phase of growth in workflow software is going to be the integration of operations and finance.
“At FINTOP, we have witnessed the shift toward embedded financial services and the many benefits it brings to clients,” Haley said. “We look forward to partnering with LeanLaw to help law firms operate smarter and improve their financial performance.”