Legal-and-compliance software company Relativity made an official announcement on Thursday saying that private equity firm Silver Lake will be making a substantial investment into its business and therefore becoming the largest stakeholder. According to the Wall Street Journal, Relativity was valued at $3.6 billion.
Relativity is planning to use the boost from the partnership and funnel it into expanding innovation and technology capacity, including artificial-intelligence communication surveillance platform. The company currently has over 300,000 annual users in 49 countries.
“Silver Lake is one of the most respected voices in technology, and their investment in Relativity signifies their confidence in our commitment to innovate and deliver best-in-class technology across the industries we serve. We are fortunate to welcome Silver Lake as our new partner and look forward to their participation on our Board of Directors,” said Mike Gamson, CEO of Relativity.