$10M for Legal AI, PE Rollups Ahead, and Seyfarth Heads to Miami
Billables AI, a San Francisco-based legal tech startup founded in 2023, raised a $10 million Series-A round led by Avenue Growth Partners to expand its AI-powered timekeeping software for midsized law firms. The platform automates time tracking and integrates with tools like Microsoft 365, Google Workspace, Clio, and MyCase, helping firms capture 10–30% more billable time while improving billing compliance and collection rates. The new funding will go toward R&D and sales growth, building on a $3.9 million seed round from October 2024.
MARKET MOVEMENTS
Gibson Dunnhires Kirkland litigator Matt Owen
Latham & Watkins brings on Kirkland litigation pro, Shayne Henry, in Austin
K&L Gatesadds Edward Baer, a corporate partner from Ropes & Gray in San Francisco
Jones Day announced that Paul Rugani, the former leader of Orrick’s financial and securities litigation practice has joined the firm
FIRM SPOTLIGHT - HUNTON ANDREWS KURTH LLP
Hunton Andrews Kurth LLP was formed through the 2018 merger of two historic firms, Virginia-based Hunton & Williams and Houston’s Andrews Kurth Kenyon, each known for serving major energy, transportation, and corporate clients for more than a century. The combined firm has grown into a global practice with more than 900 attorneys across domestic and international offices, offering strengths in areas such as energy, environmental law, finance, litigation, IP, privacy, and M&A. The firm is particularly recognized for its expansive energy practice, which includes over 400 attorneys handling regulatory, transactional, and litigation matters, as well as its nationally ranked environmental law team with deep government agency experience.
INDUSTRY INSIGHTS
Experts predict private equity investment in law firms will accelerate within the next year, with an estimated 10 to 15 PE-backed personal injury firm rollups expected.
Burford Capital committed more than $950 million to the legal industry in 2025 as investor interest in law firm equity continues to grow.
More partners than ever before are reaching the top rungs of the Big Law pay ladder, now around $40 million or higher, counting bonuses, which can reach 30% or even 40% of base pay.
Ranking the 50 largest firms by U.K. revenue regardless of where they are headquartered features 23 U.S.-based firms, up from 19 a year ago. Those U.S.-based firms grew revenues by 14.7% on average, compared with U.K. firms' growth rate of 6.6%. Twelve of the U.S.-based firms experienced double-digit revenue growth, compared with just four U.K.-based firms.
Seyfarth Shaw Opens Miami Office
Seyfarth Shaw LLP has opened a Miami office, its 14th in the U.S. and 18th globally, anchored by Juan Carlos Varela, a former Littler Mendelson shareholder with over 30 years of experience, who joins as managing partner of the office and chair of the firm's Latin America practice. The office launches with 20 Florida-admitted attorneys and will offer a full range of services, including M&A, litigation, real estate, regulatory compliance, and workforce strategy, with a focus on the New York–Miami–Latin America corridor. Seyfarth also added litigation partner Daniel Vielleville and compliance consultant Victor Guerra, both with deep Latin America and international experience, to round out the new office's capabilities.
Davis Polk & Wardwell Targets Boston Expansion
Davis Polk & Wardwell LLP is planning to expand its U.S. footprint with a potential Boston office and is currently in talks with lateral hires as part of the effort. The move follows its recent opening in Los Angeles and reflects a broader, targeted growth strategy focused on key financial, tech, and life sciences markets. Boston’s strong presence of asset managers and private equity firms makes it a strategic fit, complementing the firm’s existing reach in New York, California, and Washington, D.C. Firm leadership has emphasized a selective, opportunistic expansion approach tied closely to private equity and venture capital work, as Davis Polk continues to post strong financial performance with over $3 billion in revenue and top-tier profits per partner.
