News

Polaris Partners has made an investment in Iridium Technology, a software platform for law firm financial and performance management. No financial terms were disclosed.

PRESS RELEASE

RENO, Nev.–(BUSINESS WIRE)–Iridium Technology, a leading software platform for law firm financial and performance management, has received a significant growth investment from Polaris Growth Fund, an affiliate fund of Polaris Partners, a Boston-based private investment firm with two decades of technology investing experience.

Founded by Tom Jones and Martin Vizner, Iridium was built from the ground up to serve the business intelligence needs of law firms. The company’s platform provides a growing suite of modules that connect disparate data sources within the law firm, render a “single version of the truth,” provide actionable business intelligence and analytics, and ultimately drive financial performance improvement and workflow efficiencies.

“We are thrilled to partner with Polaris to help us to continue on our high growth path,” said Tom Jones, founder and Chief Executive Officer of Iridium. “We pride ourselves on leveraging deep legal technology domain expertise to deliver a robust, highly configurable suite with superior customer service. Having the backing of Polaris is incredibly exciting for Iridium as well as our customers, because we now have the added resources to help us achieve our shared vision of creating a best-in-class law firm management platform.”

“Tom and Martin have built a unique business that is a perfect fit for the Polaris Growth strategy,” said Dan Lombard, a Partner at Polaris, who will be joining Iridium’s Board of Directors along with Sabrina Chiasson, a Vice President at Polaris. “The company has seen significant demand for their solution and delivered outstanding customer value and retention. We are excited to help support the team to drive product innovation and to expand the offering over time.”

About Iridium Technology
The Iridium platform offers a complete business intelligence solution designed specifically for legal and professional services firms. Four modules are available: Revenue, Profit, GL+Expense, and Matter Budgeting. Each module consists of a full-featured cube and a complete set of high-performance dashboards. Iridium works with the Elite Enterprise, Elite 3E, and ADERANT Expert practice management systems. The solution was designed based on Iridium’s 70,000+ hours of Legal BI experience. All content can be customized based on the firm’s business practices, terminology, and financial calculations. Over 75 leading global law firms have signed up with Iridium, ranging from 40 timekeepers to over 3,000.

About Polaris Partners
Polaris Partners has a 20-plus-year history of partnering with repeat entrepreneurs and world-class innovators who are improving the way we live and work. The multibillion-dollar firm manages specialty and diversified funds in healthcare and technology with investments across all stages. Polaris has offices in Boston and San Francisco. Learn more at polarispartners.com.