SAN FRANCISCO & NEW YORK, October 13, 2021--(BUSINESS WIRE)--ASG, a portfolio company of Alpine Investors that builds vertical software platforms, announced that Francisco Partners, a leading global investment firm that specializes in technology businesses, is making a strategic growth investment in Paradigm. This investment will drive continued growth and innovation across Paradigm’s products, team and infrastructure to deliver an exceptional experience for their customers.
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Led by Soumya Nettimi (CEO) and Colin Li (CFO / CRO), Paradigm has become one of the most well-known and trusted practice management software and native payments providers to an industry that is increasingly demanding easy-to-use and cloud-based solutions. Today, Paradigm’s suite of four market-leading products has scaled to over 100 employees who serve over 11,000 law firms. Both Soumya and Colin were recruited through ASG and Alpine’s in-house leadership program and will continue with Paradigm in their current roles.
"Through our partnership with ASG and Alpine, Paradigm has been able to build a world-class legal software and payments business, with high levels of innovation and incredibly satisfied customers. I’m proud of what the Paradigm team has accomplished and the impact we’ve had on our customers and the legal industry at large," said Soumya Nettimi, CEO of Paradigm. "Looking ahead, we are thrilled to kick off our next chapter of growth with Francisco Partners, with their impressive track record and deep expertise in both software and payments."
"Soumya, Colin and the Paradigm team have built a remarkable business, brand and culture," said Steve Reardon, CEO of ASG. "At ASG, we have always believed we can build leading vertical software platforms through organic and inorganic growth and a deep focus on people. Paradigm is a huge validation of this thesis."
"Paradigm’s leadership, industry-leading solutions and adoption of Alpine’s PeopleFirst philosophy and ASG’s software playbook, have led to their incredible success," said Mark Strauch, Chairman of ASG and Partner at Alpine. "With Francisco Partners' experience in scaling software companies and supporting its people-driven leaders and cultures, we are confident that they are the right partner for Paradigm's next chapter."
William Blair served as financial advisor and Kirkland & Ellis served as legal advisor to Paradigm and Alpine Investors. Raymond James served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Francisco Partners.
Paradigm offers a suite of legal software solutions to help lawyers manage, automate and grow their firms. With four world-class legal practice management and payments solutions — PracticePanther, Bill4Time, MerusCase and Headnote — managed under one roof, Paradigm empowers lawyers across the spectrum of practice area, geography and business needs. At Paradigm, we are fast-paced, ambitious and unified by a common vision to build the best legal technology products in the world.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
ASG, backed by Alpine Investors, is a unique and fast-growing software business that buys, and builds vertical software companies. ASG believes deeply in the power of people and data to grow great organizations, and that sharing knowledge, expertise, and resources across its community of businesses drives exponential growth. Founders of software companies continue to trust ASG to grow their businesses and build even stronger legacies for the future. For more information, visit https://www.alpinesg.com.
About Alpine Investors
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in companies in the software and services industries. Its PeopleFirst strategy includes a CEO program which allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $2.25 billion eighth fund. For more information, visit http://www.alpineinvestors.com.
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