The Expert Institute is thrilled to announce that we have received a significant growth investment from Spectrum Equity, a leading growth equity firm focused on the information economy. The investment represents the first institutional capital invested in our company, and positions our firm to further scale our operations, broaden our areas of practice and pursue business development opportunities through product expansion.
“We are excited to partner with Spectrum Equity given their extensive experience in scaling subscription information services companies, breadth of relevant portfolio companies, and depth of network,” said Michael Talve, CEO of The Expert Institute. “This partnership marks an important milestone for TEI’s development, and we are eager to execute upon our shared strategic vision for the company.”
Mike Farrell from Spectrum Equity, said, “TEI has filled a much-needed void in the market, providing a unique and highly valuable service to leading law firms by streamlining the historically disjointed and unstructured process of finding expert witnesses. TEI is uniquely positioned to continue to serve its customers through a highly differentiated and cost-effective service. We are thrilled to partner with Michael Talve and the rest of the TEI team as they continue to provide a world-class service to leading law firms.”
Jake Heller from Spectrum Equity, added, “It’s been exciting to see how Michael Talve and his team have taken TEI from concept to high-growth category leader with no outside, institutional capital. These characteristics of capital efficiency and bootstrapped leadership are what we look for in our portfolio companies, and we are eager to support TEI management on the next phase of growth and success.”
In conjunction with the transaction, Mike Farrell and Jake Heller from Spectrum Equity will join TEI’s Board of Directors, along with Jennifer Kitchen, former SVP of Research at CoStar Group and Chief Content Officer at RainKing, a recently exited Spectrum Equity portfolio company, and Jim Emling, an operating advisor to Spectrum Equity and former President of Zywave.
Morrison Cohen provided legal advisory services to The Expert Institute, while Latham & Watkins provided legal advisory to Spectrum Equity.