The L Suite, a neighborhood for in-house authorized executives, has acquired Luminate+, an e-learning platform that aggregates persevering with authorized schooling content material from main legislation companies right into a Netflix-style streaming service.
The L Suite mentioned that the acquisition, introduced right this moment, will allow it to handle a longstanding want for sensible studying tailor-made for contemporary in-house counsel by offering its members – primarily common counsel and chief authorized officers – with entry to high-quality CLE content material.
Monetary phrases of the transaction weren’t disclosed.
The deal supplies The L Suite’s 4,000-member neighborhood with entry to Luminate+’s expertise platform and its content material partnerships with legislation companies similar to Davis Polk, Orrick, Goodwin, Baker McKenzie, and White & Case.
Throughout an interview prematurely of the announcement, Andrew Dick, the previous massive legislation lawyer who based Luminate+, instructed me that his platform addresses inefficiencies in how legislation companies distribute their CLE webinar content material and the way legal professionals devour it.
Whereas legislation companies produce hundreds of beneficial CLE webinars yearly, Dick mentioned, this content material typically reaches solely a fraction of its potential viewers because of the constrictions of live-only codecs and fragmented distribution.
“Regulation companies are doing tons of webinars because the pandemic … Some are doing 100, 200, 300 a yr,” Dick mentioned. “They’re getting 3, 4, 500 individuals registering for these applications, half or extra of whom don’t find yourself displaying up for the webinar due to a battle.”
However as soon as the webinar airs reside, legislation companies do little extra with them as a result of they lack the expertise required to supply CLE credit for on-demand programming.
The Luminate+ platform permits legislation companies to increase the shelf lifetime of their webinar content material by making the recordings out there on-demand and dealing with all of the technical necessities for CLE accreditation.
“It’s fairly simple to supply CLE credit score for a reside program,” Dick mentioned. “On demand is a really totally different course of. You should have a system that may observe attendance, observe participation.”
Free and Paid Entry
Beneath the acquisition, L Suite members will obtain complimentary entry to Luminate+ via their member hub.
Others can entry the content material via a paid subscription. The platform presently provides two subscription tiers for non-members: a base plan at $250 yearly per consumer offering entry to legislation agency CLE content material, and a premium plan at $750 yearly that features unique content material that includes common counsel views and insights.
The corporate can also be presently providing a seven-day free trial.
The deal represents a strategic enlargement for The L Suite, which has constructed its enterprise round creating unique communities for authorized executives. The group hosts over 300 occasions yearly and supplies a web based platform for member collaboration.
Greg Raiten, co-founder of The L Suite, mentioned the acquisition strengthens the corporate’s means to serve authorized executives who want fast entry to studying sources throughout numerous authorized and regulatory subjects. The mixed providing goals to bridge gaps between legislation companies and in-house authorized departments whereas creating what Raiten referred to as “a richer, extra impactful studying ecosystem.”
“By integrating Luminate+’s cutting-edge platform with The L Suite’s strong neighborhood and industry-leading content material partnerships,” Raiten mentioned, “we’re remodeling how authorized professionals interact with CLE — enabling seamless entry to a complete library of important information aggregated from the world’s prime legislation companies.”
For Luminate+, the acquisition supplies instant entry to The L Suite’s established neighborhood and legislation agency relationships, addressing what Dick described as “hen and egg” challenges in constructing each content material partnerships and consumer engagement as a standalone firm.
The platform may also construct on its affiliation with The L Suite to develop new content material particularly for legislation companies, together with a curriculum that includes insights from 25-30 common counsel on enhancing consumer service.
“We’re going to do a complete curriculum that associates and companions of companies can watch and get their CLE credit score the place they get to listen to immediately from GCs in regards to the issues that work very well and the issues they hate,” Dick mentioned.
The corporate will proceed working independently underneath Dick’s management, with the founder taking up the extra position of vp of strategic initiatives at The L Suite.
The acquisition additionally included LINK, a authorized operations neighborhood cofounded by Dick and Stephanie Corey, which can be built-in into The L Suite’s household of government communities.
