San Diego, CA (June 10, 2024) – CARET, the leading provider of SaaS practice management and integrated payment technology for midsize law firms, announced today the sale of its enterprise document automation and assembly business, HotDocs, to Mitratech, a global technology leader for legal, risk, and HR teams.
HotDocs has grown into the global industry-leading provider of document automation and assembly solutions to the world’s largest law firms, banking, and financial institutions, including a large amount of the AM Law 200.
“We are proud to have established HotDocs as the category leader of simplifying complex document creation for large enterprises,” shares Keri Gohman, CARET CEO. “Mitratech, with a similar global customer footprint of major law firms and corporations, will be an ideal home for HotDocs to achieve its next phase of growth.”
CARET will retain the exclusive legal practice management integration with HotDocs through its comprehensive cloud-based CARET Legal platform.
This strategic sale enables CARET to double down on serving the evolving needs of midsize law firms with modern and user-friendly solutions designed to enhance the business of law. The company will accelerate investment in AI capabilities to transform firm efficiency.
“Technology has always been the great enabler, allowing organizations to punch well above their weight,” says Gohman. “That has never been more evident than it is today as firms look for solutions to better compete in a marketplace undergoing a significant transformation.”
The company’s robust portfolio of on-premise and SaaS legal practice management platforms and private cloud solutions provide a natural continuum as firms increasingly look to the cloud as their preferred technology for the future.
William Blair and Kirkland & Ellis LLP acted as financial and legal advisors to CARET in connection with the transaction.
About CARET
CARET provides leading practice management and fintech platforms to tens of thousands of legal firms across the world, empowering highly skilled professionals to refocus their expertise on what truly matters. CARET serves more midmarket law firms than any other provider through its portfolio of practice management platforms including AbacusLaw, Amicus Attorney, Amicus Cloud, and CARET Legal.
CARET Legal, the company’s award-winning SaaS platform, combines the power of automated legal workflows, robust matter management, insightful dashboards, seamless client communication tools, full legal accounting, integrated payment processing and more to enhance the business of law.
To learn more, visit CARETLegal.com