AUSTIN, TX August 8, 2023 – Flo Recruit, legal recruitment software unlocking data-driven strategy for law firms, announced that it has closed an oversubscribed $4.2M seed round led by LiveOak Venture Partners and Moneta Ventures with participation from Tau Ventures and Alumni Ventures. Flo Recruit intends to use the funds to accelerate the expansion of its Flo Recruit Applicant Tracking product, particularly in developing advanced reporting and deep system integration for clients.
Flo Recruit was formed in 2019 to help law firms build talent pipelines earlier. As the emerging leader in legal applicant tracking, their software now powers the complete student and lateral recruitment cycles of a growing number of U.S. law firms. Their clients have unprecedented access to talent due to Flo Recruit’s unique ecosystem, which directly connects law schools and firms.
The legal industry has seen record attrition and attorney salary increase in recent years, raising budget alarms in an industry that sources 80% of lateral hires via agencies (compared to 10% in tech) with 25%+ fees. Law firms must assess new strategies for reaching top student and lateral candidates within budget bounds or risk falling behind. In response, Flo Recruit Applicant Tracking is revolutionizing law firms’ ability to access candidate data, historically locked behind the convoluted reporting of legacy systems, to empower firms to explore varied sourcing methods.
“The legal industry deserves a better applicant tracking system,” said Katherine Allen, Co-Founder and CEO of Flo Recruit. “Market shifts have pushed firms to adopt less structured, more diverse recruiting tactics. Flo Recruit clients are making strategic decisions based on real-time insight. Others are making expensive guesses because they can’t access their own data fast enough.”
“Using Flo Recruit for every aspect of our student and lateral recruiting has made our candidate data comprehensive and accessible,” said Vanessa Golan, Director of Recruiting at Locke Lord LLP. “Flo is key in helping us reduce search firm spend, and the automations on the law student side have been mission critical to our success this season.”
“We were instantly drawn to Flo Recruit's mission to modernize legal recruiting and empower law firms to win top talent in an ever-changing landscape,” said Venu Shamapant of LiveOak Ventures. “Their innovative applicant-tracking software unlocks invaluable data-driven strategies and addresses the pressing challenges faced by the legal industry in talent acquisition. As lead investors, we believe in the vision of Katherine, Atreya, and the Flo Recruit team, and we are excited to support them as they continue to revolutionize legal recruiting.”
“We have known Katherine and Atreya since they first launched Flo Recruit, and it has been amazing to see the progress they have made. Flo Recruit is endlessly dedicated to creating the market-leading platform for end-to-end legal recruiting, and the outstanding feedback from their customers speaks volumes about the efficacy of their platform. We’re thrilled to partner with Flo Recruit as they continue to transform legal recruiting.” said Aasim Hasan of Moneta Ventures.
“It’s important to me to keep working with folks who have been with us since the beginning because they understand our clients,” added Allen. “The leaders of this funding round provide exactly that; Moneta has advised us since 2019, and LiveOak was one of our first institutional investors the same year. LiveOak’s investment in DISCO (NYSE: LAW) shows their unique understanding of legal tech. These are intentional, impactful partnerships, and we couldn’t be more excited.”
About Flo Recruit
Flo Recruit is a high-growth SaaS company based in Austin, Texas building superior technology solutions for every aspect of the legal recruitment cycle, from networking through offer-accepted. Flo Recruit is proud to partner with 200+ legal clients, including 50% of Vault100 law firms and 95% of the top 50 ranked U.S. law schools.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital fund based in Austin, Texas. With over 23 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $5 billion of enterprise value. While almost all of LiveOak's investments begin in the early stages, LiveOak is a complete life cycle investor focused on technology and technology-enabled service companies. With nearly $500M under management, LiveOak Venture Partners has led investments in 60 high-growth Texas-based companies, including DISCO (NYSE: LAW), Eventus, OJO Labs, AmplifAI, Homeward, Take Command Health, and Osano. Recognized as the Venture Capital Firm of the Year at the inaugural A-List awards by the Greater Austin Chamber of Commerce, LiveOak is dedicated to supporting local founders, fostering the next generation of leaders, and building category-dominating companies.
About Moneta Ventures
Moneta Ventures is an early-stage venture capital firm with offices in Austin, TX, and Folsom, CA. The firm invests in high-growth B2B technology companies along the US West Coast and in Texas. Founded by serial entrepreneurs with a track record of building and exiting large technology companies, Moneta works closely with founders to help companies scale operationally alongside capital investment. Moneta Ventures has invested in more than 45 companies in underserved and emerging venture markets since 2014, including Aumni, VideoVerse, Grin, Mindtickle, Sibros, and App Orchid.