BOSTON, September 30, 2024 – Spectrum Equity has announced the sale of portfolio company Expert Institute, a leading provider of outsourced legal services to the attorney market, to Levine Leichtman Capital Partners (LLCP).
Spectrum Managing Director Mike Farrell, who led Spectrum’s 2017 investment in Expert Institute, reflected on the company’s growth in the intervening years. “It’s been a pleasure to watch them execute on their vision: growing from an expert witness search provider to an industry-leading intelligence platform for the legal community.”
Since 2017, the business nearly quintupled revenue, and made substantial investments in its core product. Chief among those investments was the 2020 release of Expert iQ, a proprietary expert management platform that enables attorneys to manage their expert witness casework, schedule conference calls, and communicate directly with experts.
“We’re proud of everything we’ve accomplished with Mike and the Spectrum team,” said Expert Institute CEO Michael Talve. “They’ve been essential partners to us — helping us recruit a world-class team and being trusted advisors throughout our partnership. They’ve given us the support we need to grow our business.”
“We’re grateful for the partnership with Michael Talve and the rest of the team,” said Farrell. “And we’re excited to see the continued innovation they’ll bring to the market.”
The Expert Institute was advised by Aeris Partners, and Cooley, LLP. LLCP was advised by Honigman LLP, Houlihan Lokey, Inc. and Robert W. Baird & Co.
ABOUT EXPERT INSTITUTE
Since its inception in 2010, Expert Institute has emerged as a pioneer in legal technology, offering unparalleled access to world-class experts, a wealth of legal data, and cutting-edge opposition research. The company’s innovative cloud-based platform Expert iQ provides sophisticated case management solutions tailored to the modern legal landscape. Having partnered with over 5,000 firms nationwide, Expert Institute stands out for its dynamic blend of expert research capabilities, medical insight, dedicated client service, and advanced technological solutions. This unique combination positions it as a transformative force in legal tech, redefining how legal professionals approach case preparation and strategy.
ABOUT SPECTRUM EQUITY
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 30 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading internet-enabled software and data services companies. Representative investments include AllTrails, CINC Systems, Definitive Healthcare, Empyrean Solutions, GoodRx, Lucid Software, Origami Risk, RainKing and Zenwork. For more information, including a complete list of investments, visit our portfolio page.
The specific companies identified above do not represent all of Spectrum’s investments, and no assumptions should be made that any investments identified were or will be profitable. View the complete list of our portfolio companies. Spectrum is not responsible for the contents of any third party website linked above, and has not confirmed the accuracy of any information provided therein.
