Lawfty Announces $40 Million in Debt Financing Led by CoVenture

WASHINGTON, Oct. 23, 2024 /PRNewswire/ -- Lawfty, the data-powered personal injury law firm that offers a clear advantage for personal injury clients and firms, today announces $40 million in debt financing led by CoVenture Management LLC ("CoVenture"). This financing will further accelerate the development of Lawfty's data-powered business, empowering law firms to capitalize on opportunities emerging in the legal space and personal injury clients to seek the justice they deserve.

For the last decade, Lawfty technology has been aggregating data from each and every personal injury lead, from inquiry to settlement, giving them unprecedented insight into what cases monetize for, and what clients and cases are best suited for Lawfty and its partner firms. Furthering this insights-driven approach, Lawfty co-signs every case to align their interests with both clients and firms.

Building a law firm upon a foundation of technology uniquely positions Lawfty to identify the top-tier lawyers and firms nationwide, analyze cases ongoing to ensure ideal outcomes, and bring certainty to personal injury clients and cases at scale. 

"We are committed to developing technology to drive better outcomes for personal injury victims and law firms alike," said Todd Richheimer, CEO of Lawfty. "It's an exciting time and we're thrilled to have CoVenture's support as we enhance and expand our reach. This investment further allows us to deliver exceptional legal representation, contributing to improved outcomes for personal injury victims."

"We are excited to be partnering with Lawfty," said Michael Breitstein, Partner at Coventure. "We believe that Todd's leadership, coupled with Lawfty's innovative, tech-focused approach will help bridge a critical gap in the industry for both clients and law firms. We look forward to supporting Lawfty's growth as it continues to scale operations while redefining personal injury."

Since being founded in 2013, Lawfty has helped over 57,000 personal injury clients and is closing in on a billion dollars of settlement value created, demonstrating the power of its technology.

About Lawfty

Lawfty is a nationwide law firm that leverages over a decade of proprietary case data, technology, analytics, marketing, and financial savvy to generate cases, improve liquidity, and help predict revenue for its law firm partners, while ensuring maximum compensation and compassion for clients.

About CoVenture

CoVenture is a privately held alternative asset management firm focused on direct credit opportunities and credit-oriented investments in early and later-stage companies. The firm has two primary areas of focus: Credit Opportunities, which CoVenture provides asset-backed debt capital to technology-driven companies; and Hybrid Capital Solutions, a flexible mandate to make bespoke investments in later-stage businesses seeking growth capital or non-traditional liquidity solutions. For media inquiries, please contact: [email protected]

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SOURCE Lawfty