ProfitSolv secures a strategic investment co-led by FTV Capital and Lightyear Capital to fuel product innovation and growth in the legal and accounting software market.

Information on the Target

ProfitSolv, founded in 2020, is a prominent provider of practice management software and payment solutions specifically tailored for the legal, accounting, and professional services sectors. The company has swiftly established its presence in the market, currently serving approximately 21,000 clients across the United States and facilitating over $20 billion in invoicing annually. ProfitSolv's comprehensive suite of integrated software solutions simplifies critical workflows such as time tracking, billing, accounting, client engagement, and payments, catering to firms of varying sizes, from individual practitioners to those with over 150 employees.

Since its inception, ProfitSolv has experienced significant growth, backed by initial investors Lightyear Capital and Greater Sum Ventures. The company aims to solidify its leadership by continuing to embrace innovation while expanding its market reach through strategic mergers and acquisitions (M&A).

Industry Overview in the Target’s Specific Country

The practice management software market for the legal and accounting industries in the United States is substantial, with an estimated worth exceeding $5 billion. This sector is experiencing rapid growth, with a compound annual growth rate (CAGR) surpassing 10%, as professional service