In reporting yes،ay on the record-setting $900 million investment in law practice management company Clio, I included a list of the 10 largest previous investments in legal tech. It did not take long for me to learn that the list was incomplete.
So I set about trying to come up with a more accurate list. It is not easy, frankly, to compile this information. My ،pe is we can crowdsource this. If you know of deals I am missing, please let me know. And if you know of deals I have listed incorrectly, please also let me know that.
(Update: As I get updates that ،p companies down the list in ranking, I’ll leave them on. That means the list will exceed 25.)
Here is what I have come up with:
- Clio, $900 million, 2024, July 23, 2024.
- LegalZoom, $500 million (secondary), July 31, 2018.
- Clio, $250 million, 2019., Sept. 4, 2019.
- Rocket Lawyer, $223 million, April 21, 2021.
- Everlaw, $202 million, Oct. 22, 2021.
- Onit, $200 million, Jan. 11, 2019.
- Ontra, $200 million, Oct. 27, 2021.
- Reveal-Brain،e, $200 million, Jan. 26, 2021.
- Icertis, $150 million, Oct. 24, 2022.
- Ironclad, $150 million, Jan. 18, 2022.
- Hebbia, $130 million, July 8, 2024.
- Notarize (Proof), $130 million, March 25, 2021.
- Relativity (kCura), $125 million, Feb. 3, 2015.
- ContractPodAI, $115 million, Sept. 30, 2021.
- Clio, $110 million, April 27, 2021.
- Filevine, $108 million, April 8, 2022.
- LegalOn Technologies, $108.60 million (based on 2022 yen to dollar exchange rate), June 22, 2022.
- Evisort, $100 million, May 11, 2022.
- Exterro, $100 million, June 1, 2018.
- Harvey, $100 million, July 23, 2024.
- Ironclad, $100 million, Dec. 21, 2020.
- LinkSquares, $100 million, April 4, 2022.
- Litera, $100 million, Aug. 14, 2017.
- SirionLabs, $85 million, May 10, 2022.
- CS DISCO, $83 million, Jan. 24, 2019.
- Harvey, $80 million, Dec. 19, 2023.
In compiling this list, I have omitted some companies that are “legal tech adjacent.” Most notably, I have omitted DocuSign, which some might argue is a legal tech company. Had I included it, it would have been on this list twice, for its $303.29 million raise on Oct. 30, 2015, and its $115 million raise on Oct. 27, 2024.
Two other legal tech adjacent companies I left off the list are Zenwork, which raised $163 million on Nov. 9, 2021, and Quantstamp, which raised $137 million on April 1, 2022.
I have Litera on the list for its 2017 $100 million investment. I also saw a report of a $204 million raise in 2022, but I have not been able to confirm that.
Like I said, if you know of others, please send them along.
Featured image by Pete Linforth from Pixabay.
منبع: https://www.lawnext.com/2024/07/the-25-largest-legal-tech-investments-of-all-time.html