UnitedLex secures $6 Mn in Series B funding

New Delhi: UnitedLex, legal consulting, analytics and outsourcing solutions provider, today announced securing Series B funding worth six million dollars. The Series B investment was led by Canaan Partners, a leading global venture capital fund and Helion Venture Partners, which had also participated in UnitedLex's Series A investment in 2007. In a move to further strengthen its leadership position, UnitedLex also announced the expansion of its Global Delivery Network with the opening of a second delivery center in Gurgaon (India) later this quarter.

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UnitedLex has invested over $1 million in 2007 in building the legal industry's first state-of-the-art 250-seater delivery center in the high-security SEZ environment. It will invest an additional $1.6 million in a second major 750-seater in 2008. As a part of the funding, the company aims to increase headcount from its current 250 to 1000 by 2009.

The company's has $10 million revenue run rate up from just $4 million at the end of 2007. Based on scaling up existing relationships and given its recent entry into the high growth eDiscovery market in the United States, UnitedLex's revenue has been rising by 5 to 10 per cent on a month-to-month basis and company projects that it will exceed $22 million revenue run rate by 2009.

Commenting on UnitedLex's rapid growth in India, Daniel Reed, Chief Executive Officer, UnitedLex said, "UnitedLex's services enable its corporate clients to spend more time on strategic and other high-value work. Our growth serves as testimony of the increased demand for knowledge process outsourcing in general and of UnitedLex's unique delivery methodology in particular. The establishment of our second delivery center in the Gurgaon SEZ is being driven by the continued strong client demand for UnitedLex's services from India. As part of achieving impressive scale in India, we plan to hire over 800 professionals over the next year at our new delivery center."

"UnitedLex's experienced leadership team, cutting-edge technology and its demonstrated success with Global 100 clients in multiple verticals makes it the worldwide leader in its space. We are excited to partner with UnitedLex and are confident of building a great business here," said Alok Mittal, Managing Director, Canaan Partners.

The UnitedLex Global Delivery Network comprises more than 250 professionals at four delivery and staging centers and at client locations worldwide. By applying a systematic approach to creating and capturing proven, repeatable processes, methodologies, tools and architectures, professionals in the Global Delivery Network enable UnitedLex client teams to deliver customized services and solutions in less time than would be required to develop them independently.