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CosmoLex
by ProfitSolv
by ProfitSolv
Profile Information Last updated on: 23 July 2024
Profile Information Last updated on: 23 July 2024
We help make selecting a software for your business effortless, economical and efficient.
by ProfitSolv
by ProfitSolv
Profile Information Last updated on: 23 July 2024
Profile Information Last updated on: 23 July 2024
CosmoLex is a cloud-based legal practice management software designed to streamline the operations of law firms by integrating various essential functions such as trust and business accounting, time tracking, billing, email and document management, and client relationship management into a single platform. The software aims to help law firms manage their administrative and business tasks efficiently, allowing lawyers to focus more on practicing law.
CosmoLex was founded in 2013 by Rick Kabra, Ph.D., who envisioned bringing the benefits of cloud computing to small-to-midsize law firms. The company has grown significantly since its inception, becoming a leading provider of legal practice management software. In 2018, CosmoLex was acquired by Tabs3, a well-established developer of legal software, which has allowed it to expand its offerings and customer base further.
CosmoLex has not reported any external funding rounds and has grown through bootstrapping. As of 2021, the company generated a revenue run rate of $3.8 million and served over 1,000 customers. The acquisition by Tabs3 in 2018 marked a significant milestone, though specific financial details of the acquisition were not disclosed.
CosmoLex offers a comprehensive suite of features designed to meet the unique needs of law firms:
The acquisition by Tabs3 in 2018 allowed CosmoLex to remain a standalone product while benefiting from Tabs3's extensive resources and market reach. This strategic move has enabled CosmoLex to continue developing its cloud technology and expanding its feature set, providing a seamless transition for customers between desktop and cloud solutions
CosmoLex regularly updates its software to include new features and improvements. Recent updates have introduced functionalities such as SMS messaging for invoices, split billing for multiple parties, and an ethical wall to restrict access to certain matters. The company also launched CosmoLex NextGen, featuring an adjustable design, user-configurable dashboards, custom fields, and enhanced document templating and assembly.
CosmoLex emphasizes a mission-driven approach to simplify law firm operations and provide competitive advantages through technology. The company values innovation, customer satisfaction, and continuous improvement. It fosters a collaborative work environment and invests in talent acquisition, research, and development to maintain its competitive edge.
CosmoLex serves a diverse user base of over 1,000 law firms, primarily small to midsize firms. The software is designed to be user-friendly and accessible, with extensive training and support options to ensure smooth adoption. The company also engages with its user community through regular webinars, knowledge base articles, and personalized support, fostering a strong sense of community and customer loyalty
By ProfitSolv