Law Practice Management
Alternative legal services provider Axiom Global has taken initial steps to launch an initial public offering.
On Tuesday, Axiom announced that it submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The filing is the first step with the SEC to take a company public.
Founded in 2000, the company has raised $28 million in venture funding, according to Crunchbase.
The company said in a press release that it hasn’t decided the number of shares to be offered or the price range of the proposed offering.
Also announced on Tuesday, Axiom will spin off Knowable, a contract analysis software company, and Axiom Managed Solutions. Each of the three companies have independent leadership and will explore separate investment strategies, according to a release.
“Across the years, jointly innovating with our clients as a part of Axiom, we’ve developed the view that there are three fundamental categories of legal work,” said Brendan Nelson, head of product at Knowable, in a release. “Under Axiom’s brand umbrella, AMS and Knowable have built market leading businesses and solutions to address the second and third categories, respectively. Today’s announcement recognizes the benefits of focus. Operating as independent companies will enable all three businesses to specialize in addressing their unique market opportunities.”
The filing comes at a time when 2019 is expected to be a year of barnburner tech IPOs, including Airbnb, data analytics company Palantir Technologies and ride-sourcing company Uber.