CosmoLex
“Can a legal-vertical SaaS replace QuickBooks and the payment processor for every small law firm by owning trust accounting end-to-end?”
Founded2013
HQWest Palm Beach, FL (formerly Monmouth Junction, NJ)
Total raised$350K
IndustryVertical SaaS / Legal
The story
CosmoLex was built in 2013 as a cloud-native legal practice management platform whose defining wedge was replacing QuickBooks with built-in, IOLTA-compliant trust and business accounting. It expanded from pure practice management into embedded payments (CosmoLexPay), CRM, and websites — becoming a bundled operating system for solo and small law firms. It now sits inside ProfitSolv, a professional-services software rollup, alongside sibling products serving adjacent verticals.
Last 12 months
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Product timeline
2012
Founders recognized cloud shift in legal industry and began building CosmoLex· founding
2013
CosmoLex Cloud, LLC formally established as first-of-its-kind cloud legal practice management system with built-in trust accounting· founding
2022
Launched CosmoLexPay — built-in payment processing service for credit/debit/ACH/eCheck· banking
2022
Completed SOC 2 Type 1 attestation (later upgraded to SOC 2 Type 2)· compliance
2024
Acquired by / operating under ProfitSolv (ProfitSolv Purchaser, Inc.)· acquisition
The stack
4 layers disclosed in CosmoLex’s embedded-finance stack
Payments / PSP
CosmoLexPay (self-branded)LawPay
Money movement
in the full report
Open banking
in the full report
Accounting
in the full report
Accounting gap: none
6 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.