It is the latest in what is expected to become a series of investments in tech start-ups by the Dentons subsidiary, having last year backed ROSS Intelligence, a legal adviser app powered by IBM Watson.
Apperio produces a smart-analytics dashboard that gives law firms and clients real-time data on legal fees and enables clients to monitor their legal spend at an overall or matter level. NextLaw Labs and Apperio will work together to streamline matter management, track legal spend in real time and standardise the legal tender process.
Seventeen of the UK’s top 100 firms, including Taylor Wessing, Olswang and CMS Cameron McKenna use Apperio’s platform, while its clients include Simply Business, Brandwatch and Octopus Investments.
NextLaw Labs is a business accelerator focused on investing in, developing and deploying new technologies to transform the practice of law. It is an autonomous, wholly owned subsidiary of global law firm Dentons.