the-25-largest-legal-tech-investments-of-all-time

The 25 Largest Legal Tech Investments Of All Time

Lawyers

In reporting yesterday 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 hope 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 bump 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:

  1. Clio, $900 million, 2024, July 23, 2024.
  2. LegalZoom, $500 million (secondary), July 31, 2018.
  3. Clio, $250 million, 2019., Sept. 4, 2019.
  4. Rocket Lawyer, $223 million, April 21, 2021.
  5. Everlaw, $202 million, Oct. 22, 2021.
  6. Onit, $200 million, Jan. 11, 2019.
  7. Ontra, $200 million, Oct. 27, 2021.
  8. Reveal-Brainspace, $200 million, Jan. 26, 2021.
  9. Icertis, $150 million, Oct. 24, 2022.
  10. Ironclad, $150 million, Jan. 18, 2022.
  11. Hebbia, $130 million, July 8, 2024.
  12. Notarize (Proof), $130 million, March 25, 2021.
  13. Relativity (kCura), $125 million, Feb. 3, 2015.
  14. ContractPodAI, $115 million, Sept. 30, 2021.
  15. Clio, $110 million, April 27, 2021.
  16. Filevine, $108 million, April 8, 2022.
  17. LegalOn Technologies, $108.60 million (based on 2022 yen to dollar exchange rate), June 22, 2022.
  18. Evisort, $100 million, May 11, 2022.
  19. Exterro, $100 million, June 1, 2018.
  20. Harvey, $100 million, July 23, 2024.
  21. Ironclad, $100 million, Dec. 21, 2020.
  22. LinkSquares, $100 million, April 4, 2022.
  23. Litera, $100 million, Aug. 14, 2017.
  24. SirionLabs, $85 million, May 10, 2022.
  25. CS DISCO, $83 million, Jan. 24, 2019.
  26. 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.