International law firm CMS has advised UK-based LegalTech start-up Apperio Limited (“Apperio”) on its £7.5 million cash injection in a fundraise round led by Draper Esprit. The Series A round also received support from existing investors Notion, IQ Capital and various angel investors.

Formed in 2013 and a key member of the CMS equIP programme, Apperio gives companies complete visibility of legal spend. It allows them to track both billed and unbilled hours, in ‘real-time’, run analytics and monitor law firm performance. The technology helps in-house teams to effectively manage budgets, while at the same time helping them to demonstrate value.

Anthony Waller, who led Apperio on the fundraise, comments: “Apperio is an important member of the original equIP cohort, and we are delighted to watch their success over the years and support them on their exceptional growth path. This fundraise marks the next stage in Apperio’s development, as they look to move their strategy forward and expand the business into new markets.”

Apperio’s founder Nicholas d’Adhemar, said: “CMS has been a great partner to Apperio over the years and continue to instill a huge deal of confidence in us as a young business. The CMS team were central to the success of this fundraise, showing incredible commitment and commercial acumen throughout.”

The CMS team also included associates Lauren Wood and Rebecca Stewart, and trainee Catherine Keeling.