The legal technology industry is still nascent, but the industry has quietly built up a number of emerging categories over the last few years. With legal tech companies raising just $739M in aggregate funding since 2011, there is still a lot of opportunity to improve processes within a legal industry still attached to manual and paper-based processes.
Using CB Insights and analytics, we identified 50 startups working in legal tech, and categorized them into a market map spanning key emerging categories such as electronic discovery, law practice management, and online legal services.
Check it out below.
We defined legal tech as all tech-enabled companies offering services and products to those in the legal industry. That includes technology catered to individual lawyers, larger corporate law firms, and other key stakeholders in the law industry.
Click on the image below to enlarge.
Online Legal Services – This section includes startups that provide a range of online legal services to consumers and businesses. This was the largest category in our map and includes Avvo which raised a $71.5M Series E from Technology Crossover Ventures in July 2015.
E-discovery – This refers to any process in which electronic data is searched and obtained for use as evidence in a civil or criminal case. Startups here are primarily building digital tools to enhance that process. The most notable private company in the category is kCura, which raised an $125M growth equity round from Iconiq Capital in February 2015.
Practice Management Software – Companies here provide billing, time, and contract-management tools to law firms. Clio one of the more well-funded startups in the category has raised over $25M from investors like Bessemer Venture Partners and Point Nine Capital, among others.
Intellectual Property/Trademark Software Services – Companies here include Innovation Asset Group which builds software that simplifies the invention disclosure process for intellectual property. Innovation Asset Group has raised $3.9M in disclosed funding to date.
Artificial Intelligence Legal Tech - Companies here use artificial intelligence to summarize legal documents and include LegalSifter, which raised seed financing in March 2016 from Birchmere Ventures.
Litigation Finance – The category counts LexShares and Mighty which allow plaintiffs to accept upfront financing (used for plaintiff medical bills etc.) and in exchange the financier gets a portion of the potential settlement after ones case closes. LexShares raised an undisclosed seed round in November 2014 and Mighty raised a $5.25M Series A led by IA Ventures and Tribeca Venture Partners in September 2015.
Legal Research – This section includes a variety of online research companies catered to the legal industry. Ravel Law, which raised a $8.1M Series A from New Enterprise Associates, Work-Bench, and Xfund in February 2014 is included in the section.
Notarization Tools - This was the smallest section in our market map and includes Notarize, which provides consumers with a digital notarization service. Notarize raised an $8.5M Series from Polaris Partners, Founders Fund, and Ludlow Ventures in June 2016.
Check out a list of the market map below.
|Legal Tech Startups Market Map List|
|Rocket Lawyer||August Capital;Google Ventures;Industry Ventures;Investor Growth Capital;LexisNexis;Undisclosed Investors||Online legal Services|
|Axiom||Amadeus Capital Partners;Benchmark;Carrick Capital Partners;CCMP Capital Advisors;DAG Ventures;Draper Richards;Greenhill Capital Partners;J.P. Morgan Partners;Wheatley Partners||Online legal Services|
|Legal Raasta||Pravin Khandelwal;Yatin Kumar Jain||Online legal Services|
|Vakilsearch||Kalaari Capital||Online legal Services|
|Avtal24||Industrifonden;Magnus Wilkne;NFT Ventures;Richard Bage||Online legal Services|
|LegalVision||Undisclosed Angel Investors;Undisclosed Investors||Online legal Services|
|LegalMatters||Venture Fathers||Online legal Services|
|UpCounsel||AngelPad;Collaborative Fund;Crosslink Capital;FundersClub;Haroon Mokhtarzada;Homebrew;Menlo Ventures;Metamorphic Ventures;Signatures Capital;SV Angel;Undisclosed Angel Investors||Online legal Services|
|LawTrades||500 Accelerator||Online legal Services|
|Legistify||Ranjit Singh;Undisclosed Angel Investors||Online legal Services|
|LawGeex||8200 EISP;Eilon Tirosh;LionBird;Lool Ventures;Rami Lipman||Online legal Services|
|LegalZoom||K1 Capital, Polaris Partners, Kleiner Perkins Caufield & Byers, Institutional Venture Partners, and Permira Advisors||Online legal Services|
|Wevorce||Cota Capital;Deciens Capital;Fenox Venture Capital;Foundation Capital;Pejman Mar Ventures;Sam Altman;Signatures Capital;Techstars Ventures;WeFunder;Y Combinator||Online legal Services|
|Avvo||Benchmark;Coatue Management;DAG Ventures;Ignition Partners;Technology Crossover Ventures;Vulcan Capital||Online legal Services|
|Legalbase||LegalZoom;Norselab;Orange Growth Capital||Online legal Services|
|LawPath||Brook Adcock;LexisNexis;Macdoch Ventures||Online legal Services|
|Innovation Asset Group||Undisclosed Angel Investors;Undisclosed Investors||IP/Trademark software and services|
|Zhiguoguo||Legend Holdings;Matrix Partners China;Undisclosed Angel Investors||IP/Trademark software and services|
|TrademarkNow||Balderton Capital||IP/Trademark software and services|
|Clairvolex Knowledge Processes||Anaqua;IndusAge Partners||IP/Trademark software and services|
|Renew Data Corporation||ABS Capital Partners;ATEL Ventures;CIBC World Markets;Comerica Bank;Garvin Hill Capital Partners;Undisclosed Investors||E-discovery|
|Catalyst Repository Systems||FTV Capital||E-discovery|
|Zapproved||Allen Alley;K1 Capital;Kanth Gopalpur;Mark Stevens;Raj Kulkarni;Skip Walter;Steve Sharp;Steve Wynne;Steven Singh;Undisclosed Investors||E-discovery|
|CS Disco||Bessemer Venture Partners;LiveOak Venture Partners;Stephen Wallace;Trevor Jefferies||E-discovery|
|Modus eDiscovery||Azalea Capital;Harbert Management Corporation||E-discovery|
|Everlaw||Andreessen Horowitz;K9 Ventures||E-discovery|
|Cicayda||Ballast Point Ventures;Richland Ventures||E-discovery|
|Qdiscovery||Bridge Investments;Starboard Capital Partners||E-discovery|
|Logikcull||Anshu Sharma;Nick Mehta;Storm Ventures||E-discovery|
|eDepoze||Nova Partners;Undisclosed Investors||E-discovery|
|Clio||Acton Capital Partners;Bessemer Venture Partners;Christoph Janz;Point Nine Capital;Version One Ventures||Practice management software|
|Peppermint Technology||Scottish Equity Partners||Practice management software|
|PracticePanther Legal Software||Ori Tamuz;Undisclosed Venture Investors||Practice management software|
|jEugene||Y Combinator||Practice management software|
|TurboPatent||Voyager Capital||Practice management software|
|LawCanvas||muru-D||Practice management software|
|Page Vault||Cornerstone Angels;Foley Ventures;Fulcrum Investing;Golden Angels Network;Great Oaks Venture Capital;Harbor Street Ventures;IrishAngels;M25 Group;Meridian Street Capital;Nelnet;Pallasite Ventures;Pritzker Group Venture Capital;Ringleader Ventures;The Cultivator;Valence Partners;Warhawk Ventures||Practice management software|
|Mighty Group||Tribeca Venture Partners and IA Ventures||Litigation Finance|
|Notarize||Founders Fund;Ludlow Ventures;Polaris Partners;Undisclosed Angel Investors||Notarization Tools|
|Ravel Law||New Enterprise Associates;Work-Bench;Xfund||Legal Research|
|Casetext||A-Grade;Ben Davenport;BoxGroup;Charlie Cheever;Crosslink Capital;Formation 8;Paul Buchheit;Rob Emrich;Susa Ventures;SV Angel;Tom Glocer;Union Square Ventures;WeFunder;Y Combinator||Legal Research|
|Judicata||Aaron Levie;David Lee;Dylan Smith;Keith Rabois;Khosla Ventures;Peter Thiel||Legal Research|
|vLex||Caixa Capital Risc;Enisa||Legal Research|
|LegalSifter||Birchmere Ventures;Carnegie Mellon University;Undisclosed Angel Investors||AI Legal Tech Software|
|Premonition||Undisclosed Investors||AI Legal Tech Software|
|Lexoo||Forward Partners;Jonathan McKay;Lean Investments||Lawyer Search|
|LawBooth||Undisclosed Investors||Lawyer Search|
Want more legal tech data? Check out our venture capital database below.