Email
Password
Remember meForgot password?
    Log in with Twitter

article imageLegal tech company raises $25 million in Series B funding round

By Lisa Cumming     Jul 8, 2018 in Business
California-based legal tech company Everlaw recently announced a $25 million Series B funding round, bringing their total funding to $34.6 million. This bodes well for the future of the legal tech startup sector.
This most recent funding round, their fourth overall, was led by Menlo Ventures and they receive ongoing support from Andreessen Horowitz, who participated in Everlaw's Series A and B funding rounds.
Founded by AJ Shankar and Jeff Friedman, Everlaw offers e-discovery, transcription, predictive case review and case analytics services. According to a company press release, Everlaw plans to use the funding to continue developing their Ai-backed litigation software.
“We’re putting to bed the myth that lawyers don’t care about technology,” said AJ Shankar, co-founder and CEO of Everlaw, in the press release. “Lawyers want great software as much as anyone, and they need it more than ever. They’re managing an explosion of data in litigation—not just email, but text messages, instant messages, social media, and corporate messaging tools like Slack. They’re grappling with new regulations like GDPR and keeping their clients’ data safe from cyber attack. And of course they’re trying to build rock-solid cases."
Of the GDPR, many experts were quick to warn lawyers that the regulation would be further-reaching than many lawyers think.
U.S.-based international law firm Jones Day published a GDPR guide and legal experts were quick to warn Canadian lawyers that the GDPR would advise their practice as well.
Legal tech startups that aim to help lawyers and law professionals navigate a cyber-focused world are gaining momentum, with nearly $200 million in investments going to legal tech startups in May and June — Everlaw being one of them. At one point in time legal tech startups couldn't even get a foot in the door.
The emergence of companies that are building technologies to help save lawyers time in research, transcribing and other repetitive tasks, and the funding that they're receiving, indicates the possibility of more legal tech startups emerging and receiving substantial funding.
More about legal tech, Legal, Tech, everlaw
 
Latest News
Top News