The funding brings Everlaw to a $2B valuation. The company was last valued at $497M in March 2020. Here are the top-line bullets you need to know.
Everlaw, a provider of cloud-based electronic discovery technology for lawyers, has raised $202M in a Series D. The round drew participation from Andreessen Horowitz, Menlo Ventures, and TPG Growth, among others.
HOW’S THE COMPANY PERFORMING?
- California-based Everlaw provides legal teams with AI-driven cloud technologies that help streamline processes surrounding litigation and investigation.
- The Everlaw platform is used by 91 Am Law 200 law firms and Attorney Generals from all 50 US states. The company’s prominent clients include Hilton and Dick’s Sporting Goods.
- Everlaw has reported 80% business growth over the past year.
- The number of total cases on its platform has more than doubled since March 2020 — its case volume at Am Law 100 firms grew 4x over the same period.
WHY DOES THE MARKET MATTER?
- The global eDiscovery market is projected to grow at a CAGR of 6.6% and reach a value of $12.9B by 2025, according to Markets and Markets.
- North America is expected to hold the highest market share during the forecast period.
- Higher litigation across the globe, the rising adoption of AI- and cloud-based solutions for legal analytics, and increasing regulatory pressure across regions are likely to fuel the market’s growth.