The changing technological landscape of the legal sector continued to drive deal activity this year. Evolve the Law congratulates our members eBrevia, Logikcull, and Allegory, who were involved in such deals. Below is a round-up of some of the most notable legal tech transactions of the past 12 (or so) months:
- In January of this year, cloud-based discovery platform Logikcull announced that it had raised an additional $25 million in a round of funding. The round was led by New Enterprise Associates, as well as existing investors OpenView Venture Partners and Storm Ventures.
- Also in January, legal directory site Avvo was acquired by Internet Brands, one of the world’s largest operators of targeted vertical websites.
- In December 2017, global legal services provider Integreon announced that it had acquired cloud-based litigation management platform Allegory. Allegory’s technology aims to provide greater transparency and efficiency for litigators and in-house counsel.
- Exterro, an eDiscovery software company, announced in May that it had received strategic investment funding from Leeds Equity Partners, a private equity firm.
- In June, AI-powered content discovery and analytics products developer Seal Software announced that it had received a $30 million investment from Toba Capital. Toba Capital had served as Seal Software’s principal exiting investor prior to this investment.
- Seal Software also announced in June that it had entered into a global partnership with DocuSign.
- Also in June, eDiscovery and litigation platform Everlaw announced that it had received $25 million in funding by Menlo Ventures. The same announcement noted that the company was receiving continued participation from Andreessen Horowitz, which brought the total funding to $34 million.
- Artificial intelligence company Eigen Technologies announced in June that it had received $17.5 million in funding co-led by Goldman Sachs Principal Strategic Investments and Temasek.
- Also in June, Tessian, a machine intelligence start-up company, announced that it had raised $13 million in a round of funding led by Balderton Capital and existing investor Accel.
- At the start of September, iManage announced that it had acquired Elegrity, a risk and matter management technology provider.
- In December, global risk and compliance solutions company Donnelley Financial Solutions announced that it had entered into a definitive agreement to acquire eBrevia, a provider of artificial intelligence-based data extraction and contract analytics software solutions. According to the press release, the net purchase price to DFIN at closing was about $19.5 million.
Here’s hoping for more continued success in 2019!
Natalie Bahmanyar is the newest member of the Breaking Media team. A Maryland native, Natalie will bring her wide-ranging research and writing experience to her role as Research Project Manager and ETL editorial liaison.
