JEGI CLARITY has advised Bodhala on their sale to Onit, a portfolio company of K1 Investment Management.
Bodhala is a leading software provider of AI-powered legal spend analytics, benchmarking and market intelligence. Powered by machine learning and AI, Bodhala transforms messy data into actionable, high-impact insights to help companies save up to 20% on their outside counsel spend. The company, headquartered in New York and founded by attorneys, serves clients across the Fortune 500 and critical services economy industries. Bodhala was named the 2020 Legal Spend Management Innovation of the Year by the LegalTech Breakthrough Awards and One to Watch in Legal Technology by the Financial Times.
With proven results for optimizing spend and the procurement of legal services, Bodhala complements Onit’s commitment to provide the most innovative AI offerings for Onit and SimpleLegal corporate legal customers. The acquisition creates the most complete enterprise legal management solutions on the market, allowing corporate legal departments to evolve analytics into actionable intelligence to optimize outside counsel spend. Onit’s acquisition of Bodhala will give their customers the power to significantly increase savings and value associated with their legal spend.