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NOVEMBER 2018
LEGAL TECH
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
2
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Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
3
Feed Summary
Investment Trend Summary
Exit Outlook Summary
BlueBox
Summary of Key Markets
Notable Companies in the Sector
Recent News
Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on November 12, 2018.
Legal Tech Feed Summary
4
Legal Tech > Feed Summary
Technology solutions for Law firms and Corporate Legal Departments
• Inclusions: Legal Practice Management, eDiscovery,
Lawyers' Marketplace, Dispute resolution platforms, legal
contract management, legal research, and Intellectual
Property Management
• Exclusions: Legal firms and Managed Service Providers
• Excludes funding information of Chinese companies
Feed in Numbers
Overview
$3.3B
Funding
22
Mega
Companies
4642250
FundedCovered on
Tracxn
8
Unicorns
11
Soonicorns
76
Minicorns
11
IPO’d Cos
144
Late Stage Cos
36
126
Acquisitions
218
DeadPooled
1
Acquihired
Series A+ Cos
Wolters Kluwer
(1836, The Hague)
LexisNexis
(1973, Albany)
Thomson Reuters
(1800, New York City)
Top Companies
Investment Trend Summary
Summary of Funding Activity in Legal Tech
5
$50M - Series D
Icertis (2009, Seattle, $96M)
$25M - Series E
SpringCM (2005, Chicago, $128M)
$50M - Series A
Kira Systems(2011, Toronto, $50M)
$25M - Series C
Icertis (2009, Seattle, $96M)
$38M - Series D
PatSnap (2007, Singapore, $100M)
$25M - Series B
Concord (2015, San Francisco, $48.5M)
$30M - Series B
Seal Software (2010, San Francisco, $34.1M)
$25M - Series B
Logikcull (2004, San Francisco, $42.5M)
$28.4M - Series B
Incopro (2012, London, $28.4M)
$25M - Series B
Everlaw (2010, Berkeley, $34.6M)
Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend
*YTD *YTD
Legal Tech > Feed Summary > Investment Trend Summary
Seed Right Side Capital Management (#4), Seedcamp (#3), Seed Capital
(#3)
Series A/B Eight Roads Ventures (#2), Menlo Ventures (#2), Ignition Partners
(#1)
Series C+ Bessemer Venture Partners (#1), GV (#1), Shunwei Capital (#1)
Incubators 500 Startups (#16), Y Combinator (#12), Techstars (#8)
Other Notable
Investors
Nextlaw Labs (#7), Kima Ventures (#4), Iconiq Capital (#2)
Debt Investors
The Carlyle Group (#3), Abacus Finance Group (#2), Silicon Valley
Bank (#2)
Most Active InvestorsRecent Investments
189
261
406
266
134
24
2013 2014 2015 2016 2017 2018*
Y-o-Y # of Companies Founded 74 64 79 80 77 66
$2.7B
$192M
$74.1M
$56.3M
$28.3M
US
Europe
Canada
SEA
Israel
$ Funding
$493M
$192M
$358M
$770M
$199M $203M
$1B
72
2013 2014 2015 2016 2017 2018*
$ Funding $ Funding Predicted
# Rounds # Rounds Predicted
Summary of exit outlook in Legal Tech
Exit Outlook Summary
66
Most Active AcquirersTop Investors in Exits
Kleiner Perkins 3
DocuSign (2003, San Francisco, $522M)
LegalZoom (2001, Glendale, $266M)
Intel Capital 2
DocuSign (2003, San Francisco, $522M)
Relativity Technologies (1997, Raleigh,
$136M)
Silicon Valley Bank 2
SpringCM (2005, Chicago, $128M)
Recommind (2000, San Francisco, $24M)
Iconiq Capital 2
DocuSign (2003, San Francisco, $522M)
Relativity Technologies (1997, Raleigh,
$136M)
Sapphire Ventures 2
DocuSign (2003, San Francisco, $522M)
Recommind (2000, San Francisco, $24M)
May 2018 RPX Corporation Acq by HGGC for $555M
Aug 2017
CPA Global Acq by Leonard Green and Partners for
$3.1B
Oct 2016 Kroll Ontrack Acq by LDiscovery for $410M
Jul 2016 Epiq Systems Acq by Omers for $1B
Oct 2015 Aderant Acq by Roper Technologies for $675M
May 2012 Ariba Acq by SAP for $4.3B
Legal Tech > Feed Summary > Exit Outlook Summary
Wolters Kluwer 5
Datacert (Apr 2014), CitizenHawk (Sep 2013), Smartlaw (Sep
2014)
Thomson
Reuters
3
MarkMonitor (Jul 2012), Serengeti Law (Oct 2010),
Business Integrity (Oct 2015)
Internet Brands 3 Avvo (Jan 2018), Total Attorneys (Feb 2015), Nolo (May 2011)
LexisNexis 3
Lex Machina (Nov 2015), Ravellaw (Jun 2017), Verilaw
Technologies (May 2004)
Mitratech 3
Viewabill (Mar 2016), CaseTrack (Aug 2015), Bridgeway
Software (Jul 2015)
Recent IPOs Top Acquisitions
Ariba Jun 1999
e-Procurement, invoicing, and B2B collabo…
IPO MCap: $983M
Omtool Aug 1997
Provides document management workflows so…
IPO MCap: $103M
Epiq Systems Apr 1997
eDiscovery Services and Suite
IPO MCap: -
FTI Technology May 1996
FTI Technology: Software & Solutions for…
IPO MCap: -
RPX Corporation May 2011
Patent Risk Solutions
IPO MCap: $714M
VIQ Solutions Feb 2005
Transcription management solutions for mu…
IPO MCap: -
Thomson Reuters Jun 2002
Enterprise solutions for financial, risk,…
IPO MCap: -
Loislaw Sep 1999
Legal and related information to lawyers…
IPO MCap: $293M
FACTSHEET
Marketmap: Legal Tech
SUITE
LEGAL DOCUMENTS/FORMS
SUITE
AFTER-LIFE PLANNING
PRACTICE & CONTRACT
PRACTICE MANAGEMENT
CONTRACT MANAGEMENT
CASE & MATTER MANAGEMENT
BILLING & SPEND ANALYTICS
CREATION
ANALYSIS
LITIGATION
RESEARCH
eDISCOVERY
SEARCH ENGINE
ANALYTICS
LEGAL RESEARCH ASSISTANT*
MARKETPLACE
INTELLECTUAL PROPERTY
SUITE
BRAND PROTECTION &
ANTI-COUNTERFEIT
PATENT ANALYTICS
Overview
Companies 2250
Funded 464 Series A+ 144
Funding $3.3B Last 2 yrs $707M
Most Active Investors
Seed Right Side Capital Management (4)
Series A/B Eight Roads Ventures (2)
Series C+ Bessemer Venture Partners (1)
Others Nextlaw Labs (7)
Incubators 500 Startups (16)
Top Cities
Bay Area 147 Cos $1.1B
Seattle 19 Cos $304M
Feed in Numbers
Unicorns 8 Soonicorns 11
Minicorns 76 Editor Picks 155
Acquihired 1 Deadpooled 218
Top Companies
Thomson Reuters (1800, New York City)
Wolters Kluwer (1836, The Hague)
LexisNexis (1973, Albany)
Exits
IPOs 11 Ariba, RPX Corporation
Acquisitions 126 Ariba, CPA Global
Top Acquirers Wolters Kluwer, Thomson
Reuters
For any Feedback and Query reach out to MyAnalyst@tracxn.com
* Upcoming Business Model
Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.7 Feed Report - LegalTech - Nov 2018
Legal Tech > Feed Summary > BlueBox
Key Sub Sectors in Legal Tech Sector
Summary of Key Markets
8
Other Notable Markets
# Cos on
Platform
Last 2 Years
$ Invested # Round
Lawyer's Marketplace >
Consultation 113 $1.4M 3
Top Markets of Investment Activity
# Cos on
Platform
Last 2 Years
$ Invested # Round
Legal Contract Management >
Contract Analytics & Due Dilligence 57 $122M 16
Intellectual Property (IP) Management >
Patent Analytics & Management 84 $55.1M 12
Intellectual Property (IP) Management >
Brand Protection & Anti-Counterfeit 57 $67.2M 9
Legal Contract Management >
Contract Creation 66 $57.7M 10
Legal Contract Management >
Contract Lifecycle Management 88 $114M 7
eDiscovery > SaaS >
Review & Analytics 44 $59.7M 8
Legal Research >
Analytics 68 $26.7M 10
Legal Contract Management > Contract
Creation >
e-Signature
84 $27.7M 7
Legal Forms >
Suite 108 $10.5M 5
Sub Sectors
# Cos
Tracked
#
Funded
Total
Funding
Legal Contract Management
Companies offering contract lifecycle management
platform which spans across contract...
309 91 $1.1B
eDiscovery
Companies offering a platform to manage emails,
documents, and media files for litigation...
133 53 $683M
Intellectual Property (IP) Management
Companies offering solutions for IP management
including filing, tracking, analytics,...
218 63 $483M
Legal Forms
Companies offering online DIY legal form services for
individuals, SMBs, and Enterprises...
207 49 $386M
Lawyer's Marketplace
Companies offering legal services marketplace for
connecting consumers, businesses, attorneys...
436 60 $210M
Legal Practice Management
Companies offering legal practice management
platform for end to end client intake to...
552 64 $132M
Legal Research
Companies offering legal database resources &
analytics to help lawyers to make data-driven...
171 39 $100M
Legal Tech > Feed Summary > Summary of Key Markets
List of Notable Companies in Legal Tech
Notable Companies in the Sector
9
Note: *(Founded Year, Location, Total Funding)
Legal Tech > Feed Summary > Notable Companies in the Sector
Public
Loislaw
(1987, New York City)*
Omtool
(1991, Andover)
LegalZoom
(2001, Glendale, $266M)
Thomson Reuters
(1800, New York City)
Wolters Kluwer
(1836, The Hague)
VIQ Solutions
(2004, Mississauga)
FTI Technology
(1982, Washington D.C.)
Stratify
(1999, Mountain View)
Acquired
Ariba
(1996, Sunnyvale)
CPA Global
(1969, Saint Helier, $20.6M)
Epiq Systems
(1988, Kansas City)
Aderant
(1978, Atlanta)
RPX Corporation
(2008, San Francisco)
Kroll Ontrack
(1985, Minneapolis)
NetNames
(1995, London)
SpringCM
(2005, Chicago, $128M)
Recommind
(2000, San Francisco, $24M)
Iris
(2007, Olathe)
Acquired
Encore Discovery
Solutions
(2003, Phoenix)
Unicorns
DocuSign
(2003, San Francisco, $522M)
Relativity Technologies
(1997, Raleigh, $136M)
LexisNexis
(1973, Albany)
Tracxn - Legal Tech Startup Landscape
List of Notable Companies by Market in Legal Tech
Notable Companies by Market (1/5)
11
Legal Tech > Feed Summary > Notable Companies by Market
Enterprise Legal Management(Suite)
Enterprise Legal Management(Suite)
Mitratech (1987, Austin, $20.5M)
Enterprise Legal Management solution
Soonicorn. Stage: Acquired
Noble Rock, Vista Equity Partners, TA Associates
Management
LexisNexis (1973, Albany)
Enterprise Legal Management.
Unicorn. Stage: Acquired
Thomson Reuters (1800, New York City)
Enterprise solutions for financial, risk, legal, tax and
accounting
Unicorn. Stage: Public
One Equity Partners
Wolters Kluwer (1836, The Hague)
Suites for Legal office management and accounting
firms
Unicorn. Stage: Public
MMF Capital
Legal Practice Management
Suite
Clio (2008, Burnaby, $27M)
Cloud-based legal practice management solutions
for SMBs
Soonicorn. Stage: Acquired
Bessemer Venture Partners, Acton Capital Partners,
Point Nine Capital and 1 Other Investors
Aderant (1978, Atlanta)
Legal Business management software
Stage: Acquired
Prospect Street Ventures
Document Assembly & Automation
Omtool (1991, Andover)
Provides document management workflows
solutions
Stage: Acquired
Summit Partners
List of Notable Companies by Market in Legal Tech
Notable Companies by Market (2/5)
12
Legal Tech > Feed Summary > Notable Companies by Market
eDiscovery
MSP + SaaS
Lighthouse eDiscovery (1995, Seattle,
$36.8M)
eDiscovery services and technology
Soonicorn. Stage: Series A
CIT, Spire Capital, Columbia Pacific Advisors
Recommind (2000, San Francisco, $24M)
SaaS based Legal hold software for ediscovery
Stage: Acquired
Sapphire Ventures, Kennet Partners, Silicon Valley
Bank and 3 Other Investors
AccessData (1987, Lindon, $20M)
Digital forensics and e-discovery solutions.
Soonicorn. Stage: Acquired
Ron Mika, Matt Marsh, Sorenson Capital and 1
Other Investors
Encore Discovery Solutions (2003, Phoenix)
Encore Discovery Solutions
Stage: Acquired
Baird Capital
MSP + SaaS
Epiq Systems (1988, Kansas City)
eDiscovery Services and Suite
Stage: Acquired
VantEdge Partners, ValueAct Capital
FTI Technology (1982, Washington D.C.)
FTI Technology: Software & Solutions for E-
discovery
Stage: Public
Iris (2007, Olathe)
Legal Services
Stage: Acquired
Kroll Ontrack (1985, Minneapolis)
Data recovery and discovery management
Stage: Acquired
TA Associates Management
Stratify (1999, Mountain View)
eDiscovery document review
Stage: Public
In-Q-Tel, Mobius Venture Capital
SaaS
Relativity Technologies (1997, Raleigh,
$136M)
eDiscovery ERDM process management
Unicorn. Stage: Acquired
Iconiq Capital, Intel Capital, Tall Oaks Capital
Partners and 4 Other Investors
Disco (2012, Houston, $50.6M)
SaaS based eDiscovery for litigation boutiques and
AmLaw 200
Soonicorn. Stage: Series C
Bessemer Venture Partners, LiveOak Venture
Partners, The Stephens Group
List of Notable Companies by Market in Legal Tech
Notable Companies by Market (3/5)
13
Legal Tech > Feed Summary > Notable Companies by Market
Legal Research
Legal Search Engine
Loislaw (1987, New York City)
Legal and related information to lawyers and law
firms
Stage: Acquired
Capital Resource Partners
Legal Contract Management
Contract Lifecycle Management
SpringCM (2005, Chicago, $128M)
Cloud Enterprise Content and Contract Mangement
Soonicorn. Stage: Acquired
Crestline Investors, Foundation Capital, North
Bridge and 9 Other Investors
Icertis (2009, Seattle, $96M)
Cloud based contract management solutions
Soonicorn. Stage: Series D
Meritech Capital Partners, Cross Creek Advisors, B
Capital Group and 5 Other Investors
Ariba (1996, Sunnyvale)
e-Procurement, invoicing, and B2B collaboration
software
Unicorn. Stage: Acquired
Intel, The Beekman Group, Van Wagoner Ventures
and 3 Other Investors
Contract Creation
DocuSign (2003, San Francisco, $522M)
Digital Transaction Management Tool
Unicorn. Stage: Series F
Hercules Capital, Intel Capital, Dell Technologies
and 55 Other Investors
List of Notable Companies by Market in Legal Tech
Notable Companies by Market (4/5)
14
Legal Tech > Feed Summary > Notable Companies by Market
Intellectual Property (IP) Management
Suite
Anaqua (2004, Boston, $125M)
Asset management (IAM) software solution
Soonicorn. Stage: Acquired
Bessemer Venture Partners, Lead Edge Capital, The
Cambria Group
CPA Global (1969, Saint Helier, $20.6M)
IP Management
Unicorn. Stage: Acquired
Epiris, ICG, Electra Private Equity
Patent Analytics & Management
PatSnap (2007, Singapore, $100M)
Provides a search platform for patents
Soonicorn. Stage: Series D
Sequoia Capital, Shunwei Capital, Qualgro GP and 3
Other Investors
RPX Corporation (2008, San Francisco)
Patent Risk Solutions
Stage: Acquired
Index Ventures, Charles River Ventures, Kleiner
Perkins
Brand Protection & Anti-Counterfeit
NetNames (1995, London)
Online brand protection & domain name
management
Stage: Acquired
List of Notable Companies by Market in Legal Tech
Notable Companies by Market (5/5)
15
Legal Tech > Feed Summary > Notable Companies by Market
Legal Forms
Suite
LegalZoom (2001, Glendale, $266M)
Legal Document Services
Unicorn. Stage: Public
Permira investment, IVP, Kleiner Perkins and 8
Other Investors
Rocket Lawyer (2008, San Francisco, $53.4M)
Online legal services
Soonicorn. Stage: Series E
Industry Ventures, August Capital, Investor and 6
Other Investors
Lawyer's Marketplace
Consultation
Avvo (2006, Seattle, $132M)
Legal marketplace, lawyer's directory, Q&A forum
and legal marketing
Soonicorn. Stage: Acquired
TCV, Coatue, Vulcan Capital and 3 Other Investors
Courtroom Solutions
Transcription Workflow Management Software
VIQ Solutions (2004, Mississauga)
Transcription management solutions for multiple
inddustries
Stage: Public
Tera Capital
Recent News in Legal Tech Sector
Recent News
16
Legal Tech > Feed Summary > Recent News
Nov 2018
LexisNexis® Risk Solutions wins Chartis RiskTech100® 2019
award for Financial Crime - Data, PR Newswire
Nov 2018
Factbox: Plans for electric vehicle battery production in Europe,
Reuters
Nov 2018
Wolters Kluwer to Become Exclusive Production, Promotion and
Distribution Partner for National Institute for Trial Advocacy, PR
Newswire
Nov 2018
DocuSign And NAR Partner To Offer Products To Digital Neophytes,
Inman
Nov 2018 DISCO Selected By Private Credit Manager, TexasTechPulse
Nov 2018
Zylpha's All New Bundling System Transforms Legal Documentation
Standards, RealWire
Nov 2018
Thomson Reuters’ $650 Million Waterfall Tender Offer, Global Legal
Chronicle
Nov 2018
Thomson Reuters eyes 'substantive' purchases after Blackstone
deal, Reuters
Nov 2018
Thomson Reuters reports better-than-expected quarterly profit,
Channel NewsAsia
Nov 2018
Wolters Kluwer's ELM Solution Introduces Legal Holds Module,
Enhancements for Passport® and TyMetrix® 360° Solutions,
Business Wire
Nov 2018
Exari Improves Compliance with Cyber Exposure Solution for the
Insurance Industry, PR Newswire
Key Recent News Key Recent News
Nov 2018
Relativity Announces the Release of Relativity Trace--a New App for
Proactive Risk Management and Compliance, PR Newswire
Nov 2018
Wolters Kluwer Tax & Accounting Recognized by the Golden Bridge
Awards, Citybizlist
Nov 2018 Dennemeyer Group Acquires octimine technologies, FinSMEs
Nov 2018
ideaPoint Launches New Software to More Easily Capture
Partnering Opportunities and Novel Ideas, Business Wire
Nov 2018 Onit Ranks #11 on Houston Chronicle’s Top Workplaces, Citybizlist
Nov 2018
Rocket Matter Partners with BirdEye to Help Law Firms Build…,
BestProductsReview
Nov 2018
Cornerstone Technologies, a Subsidiary of Sonasoft, Partners with
Exterro to Extend its E-Discovery Services Into Enterprise Market,
NewMediaWire
Nov 2018
Icertis Strengthens Executive Team With Experienced Microsoft and
Startup CFO, PR Newswire
Oct 2018 Daily funding roundup - October 31st, 2018, Vator
Oct 2018
DISCO Expands Global Presence with European Data Centre and UK
Office, Business Wire
Oct 2018
Consilio Acquires Document review and Compliance Solution
Provider, DiscoverReady, ReadITQuik
Oct 2018 Frontier Capital exits MultiLing investment, Private Equity Wire
Oct 2018 Virtual Court rooms take another step forward, Global Legal Post
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trends
Market Details
Exit Outlook
Investors
News
Appendix
17
Funding Trends
Median Deal Size and Trend
New Entrants in Funding Club
Distribution of companies by Funding Range
Funding Funnel of the Sector
Top Investments and Investors
Investors in Unicorn club
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Finance & Accounting Tech
Oct 2018
Business Intelligence
Oct 2018
Construction Tech
Oct 2018
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Investments ($M) and number of rounds in Legal Tech; 2011-2018
Global Funding Trends (1/2)
19
Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Legal Tech > Investment Trends > Global Funding Trends
#Rounds
$Funding
3 Year CAGR
6 Year CAGR 6% # of Rounds12% $ Funding
21% # of Rounds
17% $ Funding
$493M
$103M
$201M $192M
$358M
$770M
$199M $203M
$1B
0
10
20
30
40
50
60
70
80
90
$0k
$200M
$400M
$600M
$800M
$1.B
$1.2B
2011 2012 2013 2014 2015 2016 2017 2018*
$ Funding Predicted $ Funding # Rounds Predicted # Rounds
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
$6M $16M $16M $17M $33M $27M $38M $37M
$78M $102M
$67M $66M $66M
$117M
$115M
$348M
$19M $83M $109M $276M $671M $55M $50M $108M
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
16 19 46 37 47 47 50 24
8
12 16
22
19 24
23
37
1 4 12 5
13 9 4
5
2011 2012 2013 2014 2015 2016 2017 2018 YTD
Seed Early Stage Late Stage
25
66
Total # of Rounds
$103M
$493M
Total $ Invested
20
Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies
Stage-wise Number of RoundsStage-wise $ Invested
New Entrants in Funded Club
Global Funding Trends (2/2)
Investments ($M) and number of rounds in Legal Tech; 2011-2018
Legal Tech > Investment Trends > Global Funding Trends
37
32
33
42
39
36
29 248
$4.1M
$1.9M
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
$4.0M
$4.5M
0
50
100
150
200
250
300
2012 2013 2014 2015 2016 2017 2018 YTD Total
Entrants in Funding Club Avg. Ticket Size
$4.1M $1.5M $1.6M $1.2M $1.1M $0.9M $2.9M $1.9M
$311M
$66M
$114M
$73M
$258M
$619M
$0K $50M
$651M
11
0
2
4
6
8
10
12
0
100000000
200000000
300000000
400000000
500000000
600000000
700000000
2011 2012 2013 2014 2015 2016 2017 2018 YTD
$ Funding Predicted $ Funding # of Rounds Predicted # Rounds
Mega Rounds
1 3 3 3 6 - 2 10
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201821
Legal Tech > Investment Trends > Funding Trends by Geography
Investments ($M) and number of rounds in Legal Tech
Funding Trends by Geography
Funding Trends by Geography Top Cities of Funding
City $ Funding # Rounds
Bay Area 1.1B 125
Seattle 304M 28
Glendale 266M 2
Austin 158M 25
Chicago 139M 22
Raleigh 136M 4
New York City 92.6M 46
Houston 86.9M 12
Boston 67.3M 11
London 63.2M 25
Total Funding
238
119
11
15
7
13
2
13
# Rounds
$2.7B
$192M
$74.1M
$56.3M
$28.3M
$24.4M
$20.6M
$6.3M
US
Europe
Canada
SEA
Israel
India
Channel
Islands
Australia
Note: Excludes funding information of China companies
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201822
Trend of Average Deal Size ($M)
$0.5
$0.9
$0.4
$0.6
$1.0 $0.9 $1.1
2011 2012 2013 2014 2015 2016 2017
$2.2
$5.0 $5.1
$2.8
$5.1 $4.9 $4.7
$23.2 $20.8
$0.0
$5.9
$10.0
$13.0
$9.8
$18.5 $20.7
$9.9
$68.9
$61.0
$10.9
$25.0
Legal Tech > Investment Trends > Median Deal Size and Trend
Median and Average Deal Size in $M (per Stage) in Legal Tech; 2011-2017
Median Deal Size and Trend
Note: Excludes funding information of Chinese companies. *Graph not to scale
Median Deal Size and Range
$10K* $5M
$21K $50M
$1.5M $66M
$395K $233M
$17.5M
$12M
$3.7M
$572K
Series C+
Series B
Series A
Seed
Stage
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Note: 223 companies with undisclosed funding amount are not included
23
<$1M
$1-10M
$10-50M
$50-100M
$100M+
Funding Range
86
101
53
5
7
No. of Companies
Legal Tech > Investment Trends > Distribution of companies by Funding Range
No. of companies by funding range in Legal Tech; as of Nov 2018
Distribution of companies by Funding Range
$31M
$364M
$1.1B
$302M
$1.4B
$ Investment
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Stage No. of Companies
Funding
Funnel
100%
21%
6%
3%
2%
24
Note: Numbers in the brackets show the count of companies
Time to raise
next round
36
65
144
464
2250
Series C+
Series B
Series A
Funded
Founded
Next
Round
100M+
Valuation
Exits
Acqui-
Hired
Dead
Pooled
Others
21% 1%
(32)
1%
(22)
0%
(1)
10%
(217)
70%
(1568)
31% 7%
(31)
5%
(21)
- 7%
(31)
62%
(289)
45% 12%
(17)
5%
(7)
- 1%
(1)
54%
(78)
55% 25%
(16)
9%
(6)
- - 45%
(29)
- 42%
(15)
11%
(4)
- - 31%
(11)
Legal Tech > Investment Trends > Funding Funnel
Number of companies progressing to subsequent funding stages in Legal Tech
Funding Funnel
18 Months
23 Months
47 Months
Investment backedBootstrapped
11
8
78
11
Soonicorns
Unicorns
Acquisitions
IPOs
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201825
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018
Notable Investments in last 24 months (1/4)
LATE STAGE
$50M - Series D Feb 2018
Icertis (2009, Seattle, $96M)
Cloud based contract management solutions
Meritech Capital Partners, Cross Creek Advisors, B
Capital Group, Ignition Partners, Greycroft Partners,
Eight Roads Ventures, PSP Partners
$38M - Series D Jun 2018
PatSnap (2007, Singapore, $100M)
Provides a search platform for patents
Sequoia Capital, Shunwei Capital, Qualgro GP
$25M - Series E Feb 2017
SpringCM (2005, Chicago, $128M)
Cloud Enterprise Content and Contract Mangement
Crestline Investors
$25M - Series C Mar 2017
Icertis (2009, Seattle, $96M)
Cloud based contract management solutions
B Capital Group, Ignition Partners, Greycroft
Partners, Eight Roads Ventures, E.ventures
LATE STAGE
$20M - Series C Jan 2018
Disco (2012, Houston, $50.6M)
SaaS based eDiscovery for litigation boutiques and
AmLaw 200
Bessemer Venture Partners, LiveOak Venture
Partners, The Stephens Group
Series C Nov 2016
PatSnap (2007, Singapore, $100M)
Provides a search platform for patents
Sequoia Capital, Shunwei Capital, Qualgro GP
Series C May 2017
Zapproved (2008, Portland, $17.2M)
SaaS based Ediscovery
Vista Equity Partners
EARLY STAGE
$50M - Series A Sep 2018
Kira Systems (2011, Toronto, $50M)
Contract automation
Insight Venture Partners
$30M - Series B Jun 2018
Seal Software (2010, San Francisco, $34.1M)
Contract analysis: Clause extraction and review
Toba Capital
$28.4M - Series B May 2018
Incopro (2012, London, $28.4M)
IP and brand protection services
Highland Europe
$25M - Series B Oct 2018
Concord (2015, San Francisco, $48.5M)
e-signature and contract management solution
Tenaya Capital, Charles River Ventures, Alven
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201826
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018
Notable Investments in last 24 months (2/4)
EARLY STAGE
$25M - Series B Jan 2018
Logikcull (2004, San Francisco, $42.5M)
eDiscovery
New Enterprise Associates, OpenView, Storm
Ventures
$25M - Series B Jun 2018
Everlaw (2010, Berkeley, $34.6M)
Ediscovery and litigation
Menlo Ventures, Andreessen Horowitz
$20M - Series B May 2018
Notarize (2015, Boston, $31M)
Online Notary service
Polaris Partners, Lennar, Second Century Ventures,
Realogy, Fifth Wall Ventures, Founders Fund,
National Association of Realtors
$12M - Series B Apr 2018
LawGeex (2014, Tel Aviv, $22.3M)
Automated Contract analyzer
Aleph Venture Capital, Lool Ventures
EARLY STAGE
$12M - Series B Mar 2017
Casetext (2013, Palo Alto, $20.8M)
AI-based legal research assistant
Canvas Ventures, Union Square Ventures, 8VC, Red
Sea Ventures
$12M - Series B Mar 2018
UpCounsel (2012, San Francisco, $26M)
Online workplace for legal services
$11.6M - Series A Jun 2018
Doctrine.fr (2016, Paris, $13.8M)
Big Data for legal research analytics
Otium, Xаvier Niel
$10M - Series A Jan 2018
Concord (2015, San Francisco, $48.5M)
e-signature and contract management solution
Charles River Ventures, Alven
$10M - Series A Nov 2017
Luminance AI (2015, Cambridge, $13M)
AI for legal due diligence
Talis Capital, Invoke Capital, Slaughter and May
EARLY STAGE
$8.7M - Series A Oct 2017
ROSS Intelligence (2014, San Francisco, $8.8M)
Legal Research technology
Inovia Capital, Comcast Ventures Catalyst, Y
Combinator, Real Ventures, Nextlaw Labs, Nicolas
Pinto, Continuity Capital Partners
$7M - Series A Mar 2017
LawGeex (2014, Tel Aviv, $22.3M)
Automated Contract analyzer
LionBird, Lool Ventures, Recruit Holdings
$6.3M - Series A Dec 2016
Concord (2015, San Francisco, $48.5M)
e-signature and contract management solution
$5M - Series A May 2017
LegalRaasta (2015, Delhi, $6M)
Online legal services provider
Impanix Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201827
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018
Notable Investments in last 24 months (3/4)
EARLY STAGE
$4.4M - Series A Oct 2018
Lexoo (2014, London, $5.7M)
Marketplace for posting legal jobs and hiring
solicitors at fixed fee.
Earlybird Venture Capital, Forward Partners, Ned
Staple
$4M - Series A Jan 2018
CloudLex (2015, New York City, $7.7M)
Project and case management for Trial Lawyers and
Law firms
Aligned Partners Venture Services, Axis Capital
Partners
$3.7M - Series A Apr 2018
Litify (2016, New York City, $8.7M)
Law firm practice managaement
Esquire Bank
$3.7M - Series A May 2017
Concord (2015, San Francisco, $48.5M)
e-signature and contract management solution
Alven, Streamlined Ventures, Cota Capital, Tien Tzuo
EARLY STAGE
$3.5M - Series B Oct 2017
TrademarkNow (2012, Helsinki, $7.7M)
Trademark search and Analytics
Karma Ventures, Balderton Capital
$3.2M - Series A Jun 2017
MUSO (2009, London, $3.2M)
Online Anti Piracy Platform
Harwell Capital
$3M - Series A Oct 2017
NexLP (2013, Chicago, $5.1M)
Insights from unstructured data using NLP and
Machine Learning
Dundee Venture Capital
$1.9M - Series A Nov 2017
LegalSifter (2013, Pittsburgh, $4.9M)
ML to read legal docs
$1.8M - Series A Jul 2018
LawPath (2013, Sydney, $3.7M)
Legal forms and lawyer marketplace.
LegalZoom
EARLY STAGE
$84.9k - Series A Jul 2017
Seal Software (2010, San Francisco, $34.1M)
Contract analysis: Clause extraction and review
Tern
Series A May 2018
Kira Systems (2011, Toronto, $50M)
Contract automation
Bowmans
Series A Oct 2017
Notarize (2015, Boston, $31M)
Online Notary service
National Association of Realtors
Series A Dec 2016
Luminance AI (2015, Cambridge, $13M)
AI for legal due diligence
Talis Capital
Series A Nov 2016
Hire An Esquire (2011, New York City, $350k)
Just in time attorney resources
Nextlaw Labs
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201828
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Notable Investments in last 24 months
Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018
Notable Investments in last 24 months (4/4)
SEED STAGE
$2.4M - Seed Dec 2017
Heretik (2017, Chicago, $2.4M)
Legal contracts reviewing platform
Corazon Capital, Chicago Ventures
$2.2M - Seed Sep 2018
Oneflow (2012, Stockholm, $2.2M)
Contract creation, authoring and e-signature
solutions
Spintop Ventures
$543k - Seed Jul 2017
Doxly (2016, Indianapolis, $3.6M)
Legal transaction management platform
$345k - Seed Jun 2017
Kopjra (2014, Bologna, $510k)
digital rights management
Casalini Zambon, Club Digital
$330k - Seed Aug 2018
Doxly (2016, Indianapolis, $3.6M)
Legal transaction management platform
SEED STAGE
$310k - Seed Nov 2016
LawRato (2012, Delhi, $410k)
Online open marketplace for lawyers
Indian Angel Network, BVC Ventures
$300k - Seed Jan 2017
LegalSifter (2013, Pittsburgh, $4.9M)
ML to read legal docs
$120k - Seed Feb 2018
Oathello (2016, Dublin, $120k)
On demand lawyers and notary services
Techstars
Seed Dec 2016
Beagle (2014, Toronto)
AI using NLP for Contract Automation
Nextlaw Labs
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201829
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Notable Investments in last 24 months in China
Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018
Notable Investments in last 24 months in China
LATE STAGE
$52.3M - Series C Aug 2018
BestSign (2014, Hangzhou, $74M)
Electronic signature platform
Matrix Partners China, DCM Ventures, Morningside
venture Capital, Tiger Global Management
Series C Feb 2017
Kuaifawu (2014, Beijing, $10M)
Online marketplace to avail legal services like
taxation, patent and trademark registration to
Chinese start-ups.
Tencent
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Most Active Investors (VC, PE) by Stage in Legal Tech; Last 5 years (Nov 2013-Nov 2018)
Most Active VC & PE Investors
30
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investment Trends > Most Active VC & PE Investors
SEED STAGE
Right Side Capital Management(4
Investments)
Vector Legal Method, Paladin, Legalinc
1
Seedcamp(3 Investments)
Juro, Libryo, Legal Robot
2
Seed Capital(3 Investments)
Swiftcourt, LegalDesk, Archii
3
Ulu Ventures (2 Investments)
Bridge US, Hire An Esquire
4
Crosslink Capital (2 Investments)
UpCounsel, Fairclaim
5
Foley Ventures(2 Investments)
Page Vault, Esquify
6
Greycroft Partners (2 Investments)
ZenBusiness, Fairclaim
7
Founders Fund (2 Investments)
ZenBusiness, LawPal
8
Structure Capital (2 Investments)
Fixed, Fixed
9
Slow Ventures(2 Investments)
ZenBusiness, Fixed
10
EARLY STAGE
Eight Roads Ventures (2 Investments)
Icertis, Red Points
1
Menlo Ventures(2 Investments)
UpCounsel, Everlaw
2
Charles River Ventures
Concord
3
Alven
Concord
4
Ignition Partners
Icertis
5
New Enterprise Associates
Logikcull
6
Polaris Partners
Iridium Technology
7
Foundry Group
HelloSign
8
Mangrove Capital Partners
Red Points
9
Greycroft Partners
Icertis
10
LATE STAGE
Bessemer Venture Partners
Clio
1
GV
DocuSign
2
Shunwei Capital
PatSnap
3
Sequoia Capital
PatSnap
4
Qualgro GP
PatSnap
5
B Capital Group
Icertis
6
The Stephens Group
Disco
7
Intel Capital
DocuSign
8
Bain Capital Ventures
DocuSign
9
In-Q-Tel
Brainspace
10
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201831
Legal Tech > Investment Trends > Most Active Ecosystem Investors
Top Ecosystem Investors in Legal Tech; Last 5 years (Nov 2013-Nov 2018)
Most Active Ecosystem Investors
INCUBATOR/ACCELERATOR
500 Startups(16 Investments)
Ironclad, LawTrades, Wevorce
1
Y Combinator(12 Investments)
HelloSign, Airhelp, Casetext
2
Techstars(8 Investments)
Wevorce, NexLP, Vector Legal Method
3
NDRC(4 Investments)
Brightflag, Oathello, Vizlegal
4
Plug and Play Tech Center(3 Investments)
Tomorrow, Bouju, AdviseHub
5
Startupbootcamp(2 Investments)
Signaturit, Seal Agreements
6
Boost VC(2 Investments)
Visabot, Bitproof
7
PreSeed Ventures(2 Investments)
LegalDesk, Archii
8
NFX(2 Investments)
Reach, Headnote
9
Acceleprise(2 Investments)
PactSafe, Legalinc
10
OTHER NOTABLE INVESTORS
Nextlaw Labs(7 Investments)
ROSS Intelligence, Apperio, Doxly
1
Kima Ventures(4 Investments)
Doctrine.fr, Modria, LawPal
2
Wayra(2 Investments)
Brightflag, Oito Tecnologia Juridica
3
Microsoft Ventures(2 Investments)
Kelsen, ClearContract
4
Iconiq Capital(2 Investments)
DocuSign, Relativity Technologies
5
Recruit Holdings(2 Investments)
DocuSign, LawGeex
6
Vista Equity Partners(2 Investments)
Mitratech, Zapproved
7
West View Capital Partners(2
Investments)
LDiscovery, KLDiscovery
8
LegalZoom(2 Investments)
LawPath, Legalbase
9
Square 1 Bank
SpringCM
10
DEBT INVESTORS
The Carlyle Group(3 Investments)
DTI, LDiscovery, KLDiscovery
1
Silicon Valley Bank(2 Investments)
Onit, Recommind
2
Wellington Financial(2 Investments)
SpringCM, Exari
3
The North West Fund(2 Investments)
Datalaw, Rekoop
4
Abacus Finance Group(2 Investments)
RenewData, LDiscovery
5
Hercules Capital
DocuSign
6
Maranon Capital
LDiscovery
7
Mercia Technologies
The Link App
8
Horizon Technology Finance
SpringCM
9
Providence Equity Partners
Abacus Data Systems
10
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201832
Legal Tech > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (1/2)
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201833
Legal Tech > Investment Trends > Investors in Unicorn club
Investors in Unicorn Club (2/2)
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201834
Legal Tech > Investment Trends > Unicorn Investors in the Sector
Unicorn Investors in the Sector
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
35
BlueBox
Key Sub Sectors
Detailed Sector Taxonomy
Top Markets of Investment Activity
Top Markets of Early Stage Investors
Other Notable Markets
Market Deep Dive
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Finance & Accounting Tech
Oct 2018
Business Intelligence
Oct 2018
Construction Tech
Oct 2018
Marketmap: Legal Tech
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.37 Feed Report - LegalTech - Nov 2018
Legal Tech > Market Details > BlueBox
Key Sub Sectors (1/2)
38
Key Sub Sectors in Legal Tech
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Legal Contract Management
Companies offering contract lifecycle management platform which spans across contract
creation, revi....
SpringCM (2005, Chicago, Acquired)
DocuSign (2003, San Francisco, $522M)
309 91 $1.1B
eDiscovery
Companies offering a platform to manage emails, documents, and media files for litigation
process th....
Relativity Technologies (1997, Raleigh,
Acquired)
Disco (2012, Houston, $50.6M)
133 53 $683M
Intellectual Property (IP) Management
Companies offering solutions for IP management including filing, tracking, analytics, anti-
counterfeit management etc.
Anaqua (2004, Boston, Acquired)
PatSnap (2007, Singapore, $100M)
218 63 $483M
Legal Forms
Companies offering online DIY legal form services for individuals, SMBs, and Enterprises
LegalZoom (2001, Glendale, Public)
Rocket Lawyer (2008, San Francisco,
$53.4M)
207 49 $386M
Lawyer's Marketplace
Companies offering legal services marketplace for connecting consumers, businesses,
attorneys and lawyers
Avvo (2006, Seattle, Acquired)
Notarize (2015, Boston, $31M)
436 60 $210M
Legal Practice Management
Companies offering legal practice management platform for end to end client intake to
invoicing with....
Clio (2008, Burnaby, Acquired)
Apperio (2012, London, $12.7M)
552 64 $132M
Legal Research
Companies offering legal database resources & analytics to help lawyers to make data-driven
decision....
Lex Machina (2009, Menlo Park, Acquired)
Casetext (2013, Palo Alto, $20.8M)
171 39 $100M
Enterprise Legal Management(Suite)
Companies offering legal suite solutions for end-to-end enterprise legal practice management,
contra....
Mitratech (1987, Austin, Acquired)
Onit (2009, Houston, $21.4M)
22 6 $56.9M
Legal Tech > Market Details > Key Sub Sectors
Key Sub Sectors (2/2)
39
Key Sub Sectors in Legal Tech
Market Top Companies
# Cos
Tracked
#
Funded
Total
Funding
Dispute Resolution
Companies offering out-of-court dispute resolution platform for small claim cases
Modria (2011, San Jose, Acquired)
Airhelp (2013, New York City, $17.1M)
80 22 $48.6M
Courtroom Solutions
Companies offering a remote appearance platform for court sessions and trial presentation
solutions
Veritext (1997, Florham Park, Acquired)
Trint (2014, London, $3.1M)
37 8 $4.8M
Legal Tech > Market Details > Key Sub Sectors
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (1/7)
40
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (2/7)
41
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (3/7)
42
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (4/7)
43
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (5/7)
44
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (6/7)
45
Legal Tech > Market Details > Detailed Sector Taxonomy
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Detailed Sector Taxonomy (7/7)
46
Legal Tech > Market Details > Detailed Sector Taxonomy
Rank Market
Last 2 Years
$ Invested # Round Top Funded Company
1
(+4)
Legal Contract Management > Contract Analytics & Due Dilligence
Companies offering an AI based platform for reviewing, parsing and tagging documents
(Companies covered 57 | Funded 26 | Total Funding $178M)
$122M
(+$106M)
16
(+9)
Kira Systems
(2011, Toronto, $50M)
2
(+6)
Intellectual Property (IP) Management > Patent Analytics & Management
Companies offering tools for patent analytics and management
(Companies covered 84 | Funded 23 | Total Funding $146M)
$55.1M
(+$41.9M)
12
(+8)
PatSnap
(2007, Singapore, $100M)
3
(+1)
Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit
Companies offering brand protection & anti-counterfeit management solutions related to core IP
(Companies covered 57 | Funded 22 | Total Funding $119M)
$67.2M
(+$48.8M)
9
(+2)
Incopro
(2012, London, $28.4M)
4
(+3)
Legal Contract Management > Contract Creation
Companies designing templates for creating contract forms
(Companies covered 66 | Funded 17 | Total Funding $67.4M)
$57.7M
(+$50.1M)
10
(+2)
Concord
(2015, San Francisco, $48.5M)
5
(-4)
Legal Contract Management > Contract Lifecycle Management
Companies offering an end-to-end contract management platform
(Companies covered 88 | Funded 21 | Total Funding $327M)
$114M
(+$53.8M)
7
(-3)
Icertis
(2009, Seattle, $96M)
6
(-2)
eDiscovery > SaaS > Review & Analytics
Companies offering SaaS based eDiscovery review & analytics platform
(Companies covered 44 | Funded 14 | Total Funding $263M)
$59.7M
(-$110M)
8
(+1)
Everlaw
(2010, Berkeley, $34.6M)
7
(+2)
Legal Research > Analytics
Companies developing platform for analytics on lawyers, judges etc
(Companies covered 68 | Funded 21 | Total Funding $59.7M)
$26.7M
(+$20.7M)
10
(+5)
Doctrine.fr
(2016, Paris, $13.8M)
47
Note: The numbers in the bracket represent the change in a 2 year period.
Top Markets of Investment Activity (1/2)
Top Markets by Funding in Legal Tech in last 2 years (November 2016 - October 2018)
Legal Tech > Market Details > Top Markets of Investment Activity
48
Top Markets of Investment Activity (2/2)
Legal Tech > Market Details > Top Markets of Investment Activity
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Rank Market # Investments Key Investments
1
eDiscovery > SaaS
Companies offering SaaS based eDiscovery solutions
(Companies created 12 | Funded 5 | Total Funding $62.4M )
1 Logikcull (2004, San Francisco, $42.5M)
2
Legal Contract Management > Contract Creation > e-Signature
Companies offering contract digital signature management solutions to convert them into legally binding
documents
(Companies created 84 | Funded 20 | Total Funding $571M )
1 HelloSign (2011, San Francisco, $16M)
3
Legal Contract Management > Contract Lifecycle Management
Companies offering an end-to-end contract management platform
(Companies created 88 | Funded 21 | Total Funding $327M )
1 Ironclad (2014, San Francisco, $13.3M)
Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer
Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures
49
Top Markets of Early Stage Investors
Top Markets where Early Stage Investors are investing in last 2 years (November 2016 - October 2018)
Legal Tech > Market Details > Top Markets of Early Stage Investors
Rank Market
Last 2 Years
# of Comp Founded $ Invested # Round Top Funded Company
1
Lawyer's Marketplace > Consultation
Companies offering an online legal consultation platform
(Companies covered 113 | Funded 11 | Total Funding $134M)
44 $1.4M
(+$1.4M)
3
(+3)
Pravoved.ru
(2011, St. Petersburg, $1M)
2
Lawyer's Marketplace > Listing & Booking > Listing
Companies offering a pure-play lawyer listing platform
(Companies covered 109 | Funded 10 | Total Funding $1.9M)
33 $0
(0)
0
(-)
Legal Reach
(2012, San Francisco,
$900k)
50
Other Notable Markets
Other Notable Markets with high Entrepreneurial Activity in Legal Tech in last 2 years (November 2016 - October 2018)
Legal Tech > Market Details > Other Notable Markets
Incubators Y Combinator (#1)
Seed Nextlaw Labs (#1), Seedcamp (#1)
Series A/B Toba Capital (#1), Foundry Group (#1)
Series C+
Apogee Legal Jul - 2018
Acq by Seal Software
Counselytics Apr - 2018
Acq by Conga
$50M - Series A
Kira Systems (2011, Toronto, $50M)
$30M - Series B
Seal Software (2010, San Francisco,
$34.1M)
$4.7M - Series A
Contract Wrangler (2016, San Mateo,
$4.7M)
$2.2M - Angel
LinkSquares (2015, Somerville, $2.2M)
Series A
Kira Systems (2011, Toronto, $50M)
$12M - Series B
LawGeex (2014, Tel Aviv, $22.3M)
$120k - Seed
Lawyaw (2016, San Francisco, $120k)
$1.2M - Seed
Hyperlex (2017, Paris, $1.2M)
$2.4M - Seed
Heretik (2017, Chicago, $2.4M)
$10M - Series A
Luminance AI (2015, Cambridge,
$13M)
Oct 2018
Luminance launches eDiscovery product to assist with
litigation, Legal IT Professionals
Sep 2018
Intralinks and Axiom Alliance Benefits European
Dealmakers, PR Newswire
Sep 2018 FTI Consulting Teams with Kira Systems, Citybizlist
Sep 2018
Kira Systems closes $50 mln Series A with Insight Venture
Partners, PE Hub
Aug 2018
Seal Software Bolsters Strength in Legal Services, Pharma
and Healthcare Sectors With Key Appointments, PRWeb
Aug 2018
Seal Software Named to Inc. 5000 List of America’s Fastest-
Growing…, BestProductsReview
Jun 2018
Weightmans strikes partnership with University of Liverpool
and Kira Systems, Insider Media
Jun 2018
Seal Software Releases New Version of Seal Content and
Analytics, Technology-Signals
May 2018
LinkSquares raises $2M seed round for software to save
paper pushers, The Business Journals
Apr 2018
Luminance extends AI platform to regulatory compliance
work, Global Legal Post
Mar 2018
Lawyaw uses AI to help lawyers draft documents faster,
Technology Thrill
Mar 2018
Thomson Reuters collaborate with eBrevia for AI-driven
contract remediation, Finextra
Mar 2018
AI Faster and More Accurate at Analyzing Contracts Than
Top Lawyers, Disruptor Daily
News
2
1
9
26
57
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Legal Contract Management > Contract Analytics & Due Dilligence: Market Factsheet
51
Exits
Most Active Investors
Recent InvestmentsCompanies offering an AI based
platform for reviewing, parsing
and tagging documents
Kira Systems
(2011, Toronto, $50M)
Seal Software
(2010, San Francisco, $34.1M)
Axiom
(2000, New York City, $28M)
LawGeex
(2014, Tel Aviv, $22.3M)
Luminance AI
(2015, Cambridge, $13M)
Top Companies
#1 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence
Companies Created 57 | Funded 26 | Total Funding $178M
0
5
10
$0k
$100M
$200M
$300M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Contract Analytics & Due Dilligence
52
Legal Contract Management > Contract Analytics & Due Dilligence: Top Companies
Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence
#1 Top Markets of Investment Activity
Market: Contract Analytics & Due Dilligence (1/2)
Analyst’s Pick
Kira Systems (2011, Toronto, $50M)
Contract automation
Minicorn. Stage: Series A
Insight Venture Partners, Bowmans
Seal Software (2010, San Francisco, $34.1M)
Contract analysis: Clause extraction and review
Minicorn. Stage: Series B
Toba Capital, Tern, Kreos Capital
Axiom (2000, New York City, $28M)
Contract analysis and legal services
Editor's Pick. Stage: Series A
Carrick Capital Partners, DAG Ventures, Benchmark
Capital and 4 Other Investors
LawGeex (2014, Tel Aviv, $22.3M)
Automated Contract analyzer
Minicorn. Stage: Series B
Aleph Venture Capital, Lool Ventures, LionBird,
Recruit Holdings
Analyst’s Pick
Luminance AI (2015, Cambridge, $13M)
AI for legal due diligence
Minicorn. Stage: Series A
Talis Capital, Invoke Capital, Slaughter and May,
Vision
Leverton (2012, Berlin, $5.5M)
Intelligent Information Extraction
Minicorn. Stage: Series A
LegalSifter (2013, Pittsburgh, $4.9M)
ML to read legal docs
Minicorn. Stage: Series A
Birchmere Labs, Carnegie Mellon University,
Birchmere Ventures
Heretik (2017, Chicago, $2.4M)
Legal contracts reviewing platform
Minicorn. Stage: Seed
Corazon Capital, Chicago Ventures, Service Provider
Capital
Analyst’s Pick
eBrevia (2011, Stamford, $2M)
Machine learning to automate contract review in
due diligence, lease abstraction, contract mgmt, &
doc drafting.
Minicorn. Stage: Seed
Connecticut Innovations, Rothenberg Ventures
Counselytics (2013, New York City, $850k)
contract review using Machine Learning
Minicorn. Stage: Acquired
Great Oaks Venture Capital, Compound
Lawyaw (2016, San Francisco, $120k)
AI enbaled solutions for legal document drafting
Editor's Pick. Stage: Seed
Y Combinator, Revel Partners
Beagle (2014, Toronto)
AI using NLP for Contract Automation
Minicorn. Stage: Seed
Nextlaw Labs, Creative Destruction Lab, Seedcamp,
GTAN
Crux IQ (2016, Chennai)
Intelligent contract analytics
Minicorn. Stage: Unfunded
53
Legal Contract Management > Contract Analytics & Due Dilligence: Top Companies
Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence
#1 Top Markets of Investment Activity
Market: Contract Analytics & Due Dilligence (2/2)
Analyst’s Pick
Legal Robot (2015, San Francisco)
AI for contract review
Minicorn. Stage: Seed
Seedcamp
Ayfie (2016, New York City)
Text analytics and enterprise search platform
Editor's Pick. Stage: Funded
Weslake Ventures
LexaTexer (2013, Berlin)
Predictive analytics solutions for multiple
industries
Editor's Pick. Stage: Unfunded
rfrnz (2017, Munich)
Contract analysis using Artificial intelligence
technologies
Editor's Pick. Stage: Funded
Techfounders
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
54
Legal Contract Management > Contract Analytics & Due Dilligence: Leaderboard
Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence
#1 Top Markets of Investment Activity
Better than Market Average
Market: Contract Analytics & Due Dilligence
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 Kira Systems 2011 Toronto Series A $50M 2 - - - 4 3.4k - - 14 - - 459 16%
5.0
Luminance
AI
2015 Cambridge Series A $13M 3 - - - - 1.5k - - 19 - - 395 39%
5.0
Seal
Software
2010
San
Francisco
Series B $34.1M 3 - - - - 895 - - 13 - - 106 13%
4.8 Axiom 2000
New York
City
Series A $28M 1 - - - 4 4.7k - - 12 - - 253 6%
4.5 LegalSifter 2013 Pittsburgh Series A $4.9M 4 - - - - 715 - - 3 - - 99 16%
4.1 Heretik 2017 Chicago Seed $2.4M 1 - - - 4 237 - - 1 - - 83 54%
3.9 LawGeex 2014 Tel Aviv Series B $22.3M 4 - - - - - - - 5 - - - -
3.6 eBrevia 2011 Stamford Seed $2M 5 - - - - 1.4k - - 1 - - 44 3%
3.6 Brightleaf 2006 Westwood Series A $6.9M 3 - - - - 266 - - - - - 7 3%
3.5
Contract
Wrangler
2016 San Mateo Series A $4.7M 1 - - - 4 28 - - - - - 10 56%
3.4 LinkSquares 2015 Somerville Seed $2.2M 1 - - - - 320 - - 1 - - 23 8%
3.2 Apogee Legal 2015 Charlotte Acquired - - 5 - - 4 54 - - 1 - - 7 15%
2.8 Counselytics 2013
New York
City
Acquired $850k 2 - - - - 595 - - - - - -321 -35%
2.5 reDock 2016 Ottawa Funded - - - - - 4 215 - - - - - 22 11%
2.4 Leverton 2012 Berlin Series A $5.5M 1 - - - - - - - 1 - - - -
Incubators Arch Grants (#1), Capital Innovators (#1)
Seed Eniac Ventures (#1), Voyager Capital (#1)
Series A/B Foundation Capital (#1), Kleiner Perkins (#1)
Series C+ Shunwei Capital (#1), Sequoia Capital (#1)
octimine technologies Nov - 2018
Acq by Dennemeyer
Filing Analytics Sep - 2018
Acq by CPA Global
RPX Corporation May - 2011
IPO'd on NASDAQ
AcclaimiP Apr - 2016
Acq by Anaqua
Innography Nov - 2015
Acq by CPA Global
PatentCore Jul - 2014
Acq by Reed Tech
Pantros IP Oct - 2013
Acq by IP.com
$4M - Series A
Aistemos (2013, London, $4M)
$38M - Series D
PatSnap (2007, Singapore, $100M)
$2.6M - Seed
Legit (2016, Cambridge, $2.6M)
$2.1M - Seed
IPwe (2017, Dover, $2.1M)
$3.2M - Series A
TurboPatent (2010, Seattle, $6.7M)
$983k - Seed
Iamip (2013, Stockholm, $2.1M)
Nov 2018 Dennemeyer Group Acquires octimine technologies, FinSMEs
Oct 2018 IP.com lands deal with OnePetro, Rochester Business Journal
Oct 2018
Wolters Kluwer Partners with Alt Legal to Enhance
Trademark Docketing Abilities, PR Newswire
Aug 2018
IPwe And BlockHiro Announce Strategic Relationship,
AIThority
Jul 2018 The West is Set to Lose the Innovation Arms Race, PRWeb
Jul 2018
Loci is using blockchain technology to tell you if your
invention is unique, VentureBeat
Jun 2018
UK-based patent analytics startup Aistemos raises £3 million
from Beringea, Tech.eu
Jun 2018
IP platform PatSnap picks up $38M from Sequoia and Xiaomi
founder’s fund, TechCrunch
Jun 2018
Gainey McKenna & Egleston Announces A Class Action
Lawsuit Has Been Filed Against RPX Corporation (RPXC),
GlobeNewswire
May 2018
Zeno sells 4 network security patent to SF-based RPX
Corporation, Indiatimes
May 2018
HGGC agrees $555m take-private of patent risk,
management business RPX Corporation, AltAssets
May 2018
BRIEF-RPX Corp To Be Acquired By HGGC For $10.50 Per
Share, Reuters
Apr 2018 Legit Raises $2.6M Seed, Citybizlist
Feb 2018 PatSnap releases Workspaces cloud platform, Research Live
Dec 2017 RPX : Announces Executive Changes, 4-Traders
News
8
2
8
23
84
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Intellectual Property (IP) Management > Patent Analytics & Management: Market Factsheet
55
Exits
Most Active Investors
Recent InvestmentsCompanies offering tools for
patent analytics and management
RPX Corporation
(2008, San Francisco)
PatSnap
(2007, Singapore, $100M)
Innography
(2006, Austin, $14M)
TurboPatent
(2010, Seattle, $6.7M)
Aistemos
(2013, London, $4M)
Top Companies
#2 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Patent Analytics & Management
Companies Created 84 | Funded 23 | Total Funding $146M
0
5
10
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Patent Analytics & Management
56
Intellectual Property (IP) Management > Patent Analytics & Management: Top Companies
Legal Tech > Market Details > Market: Patent Analytics & Management
#2 Top Markets of Investment Activity
Market: Patent Analytics & Management
Analyst’s Pick
PatSnap (2007, Singapore, $100M)
Provides a search platform for patents
Soonicorn. Stage: Series D
Sequoia Capital, Shunwei Capital, Qualgro GP and 3
Other Investors
Aistemos (2013, London, $4M)
IP analytics platform
Editor's Pick. Stage: Series A
Beringea, ProVen VCTs
Legit (2016, Cambridge, $2.6M)
AI-based platform for creating invention disclosure
forms
Editor's Pick. Stage: Seed
Eniac Ventures, Elementum Ventures, Max
Ventures and Industries and 5 Other Investors
IPwe (2017, Dover, $2.1M)
Blockchain-based patent registry system
Editor's Pick. Stage: Seed
Analyst’s Pick
Juristat (2012, St. Louis, $1.7M)
Legal analytics for lawfirms
Minicorn. Stage: Seed
Arsenal Capital Management, The Entrust Group,
Arch Grants, Capital Innovators
CognitionIP (2018, Palo Alto)
Patent filing and analytics solution provider
Editor's Pick. Stage: Funded
Y Combinator, Trifecta Capital, Zeno Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
57
Intellectual Property (IP) Management > Patent Analytics & Management: Leaderboard
Legal Tech > Market Details > Market: Patent Analytics & Management
#2 Top Markets of Investment Activity
Better than Market Average
Market: Patent Analytics & Management
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 PatSnap 2007 Singapore Series D $100M 5 - - - - 1.2k - - 16 - - 122 12%
3.7 TurboPatent 2010 Seattle Series A $6.7M 3 - - - - 71 - - 2 - - 10 16%
3.4
octimine
technologies
2012 Munich Acquired $1.1M 1 - - - 4 376 - - 2 - - 6 2%
3.4 Alt Legal 2013
New York
City
Seed $100k 1 - - - 5 8 - - 2 - - 3 60%
3.4 IPwe 2017 Dover Seed $2.1M 1 - - - 4 2.8k - - 2 - - - -
3.4 Juristat 2012 St. Louis Seed $1.7M 6 - - - - 1.4k - - - - - 11 1%
3.4 Teqmine 2013 Helsinki Seed $540k 1 - - - - 243 - - 1 - - 323
-
404%
3.3 Aistemos 2013 London Series A $4M 1 - - - - 1.1k - - 2 - - -6 -1%
3.2 IPlytics 2014 Berlin Seed - 1 - - - - 562 - - 3 - - 10 2%
2.9
RPX
Corporation
2008
San
Francisco
Acquired - 3 - - - - - - - 17 - - - -
2.9 Legit 2016 Cambridge Seed $2.6M 2 - - - 4 172 - - 1 - - -5 -3%
2.9 FirstToFile 2000 San Mateo Acquired $3.9M 2 - - - - 90 - - 1 - - -1 -1%
2.7 Iamip 2013 Stockholm Seed $2.1M 2 - - - 4 1.2k - - - - - -24 -2%
2.7 Innography 2006 Austin Acquired $14M 4 - - - - 3 - - 2 - - -2481
-
100%
Incubators Vectr Ventures (#1), Mistletoe (#1)
Seed Trident Capital (#1), Social Starts (#1)
Series A/B Foundation Capital (#1), Eight Roads Ventures (#1)
Series C+
Cyveillance Dec - 2015
Acq by LookingGlass
Topple Track Jun - 2015
Acq by Symphonic Distribution
Web IP Apr - 2014
Acq by NetNames
CitizenHawk Sep - 2013
Acq by Wolters Kluwer
MarkMonitor Jul - 2012
Acq by Thomson Reuters
BayTSP Oct - 2011
Acq by Irdeto
NetNames Oct - 2011
Acq by HgCapital for $236M
$28.4M - Series B
Incopro (2012, London, $28.4M)
$12M - Series B
Red Points (2011, Barcelona, $26.2M)
$12M - Series B
Red Points (2011, Barcelona, $26.2M)
$1.1M - Series A
BrandShield (2010, Ramat Hasharon,
$2.5M)
$3.2M - Series A
MUSO (2009, London, $3.2M)
$345k - Seed
Kopjra (2014, Bologna, $510k)
Oct 2018
MUSO launches Piracy by Industry Dashboard, Advanced
Television
May 2018
Vaultitude Creates Unified Blockchain-Based Solution for
Intellectual Property Management, Coinspeaker
May 2018
Corsearch Announces Strategic Partnerships with Key-
Systems GmbH and INCOPRO, Business Wire
May 2018
AI is finding out when the person using your account isn’t
you, The Next Web
May 2018
PhishLabs and BrandProtect Merge to Become the Leading
Provider of Threat Intelligence and Mitigation Solutions,
PRWeb
May 2018
Brand protection company Red Points raises an additional
$12 million in Series B funding, Tech.eu
Jan 2018 Red Points takes $12M to help brands beat fakes, TechCrunch
Dec 2017
Image Protect Inc. Achieves 300% Efficiency Increase in
Infringement Case Settlement Time; Core software
engineering breakthrough expedites average case settlement
time to 46 Days, GlobeNewswire
Dec 2017
Blenheim Natural Resources Buys BrandShield Stake Amid
Blockchain Deal, London South East
Dec 2017
Security company discovers database of 1.4B user
credentials on the dark web, SiliconAngle
Dec 2017
Image Protect Inc. Announces Historic Rise in Current Active
Infringement Cases, NewMediaWire
Dec 2017
Red Points is helping brands win the war against
counterfeiters, Silicon Republic
News
7
1
12
22
57
M&A/IPO
Series C+
Series A+
Funded
Companies
Covered
Funding Funnel
Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Market Factsheet
58
Exits
Most Active Investors
Recent InvestmentsCompanies offering brand
protection & anti-counterfeit
management solutions related to
core IP
Incopro
(2012, London, $28.4M)
Red Points
(2011, Barcelona, $26.2M)
4iQ
(2016, San Francisco, $14M)
Cyveillance
(1997, Reston, $14M)
MarkMonitor
(1999, San Francisco, $12M)
Top Companies
#3 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit
Companies Created 57 | Funded 22 | Total Funding $119M
0
2
4
6
$0k
$50M
$100M
$150M
2014 2015 2016 2017 2018
Predicted Funding YoY Funding
Rounds Predicted Rounds
YoY Funding and Rounds
Market: Brand Protection & Anti-Counterfeit
59
Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Top Companies
Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit
#3 Top Markets of Investment Activity
Market: Brand Protection & Anti-Counterfeit
Analyst’s Pick
Red Points (2011, Barcelona, $26.2M)
Brand protection and anti piracy solution
Editor's Pick. Stage: Series B
Eight Roads Ventures, Northzone, Mangrove Capital
Partners, Banc Sabadell
4iQ (2016, San Francisco, $14M)
Big data analytics & machine learning based threat
intelligence platform
Minicorn. Stage: Series A
Adara Ventures, Telefónica Open Future, Armat
Group and 2 Other Investors
MarkMonitor (1999, San Francisco, $12M)
Online brand & reputation monitoring & protection
for enterprise
Editor's Pick. Stage: Acquired
Focus Ventures, Foundation Capital, IVP and 2
Other Investors
MUSO (2009, London, $3.2M)
Online Anti Piracy Platform
Minicorn. Stage: Series A
Harwell Capital
Analyst’s Pick
Kopjra (2014, Bologna, $510k)
digital rights management
Minicorn. Stage: Seed
Casalini Zambon, Club Digital, TIM Ventures and 2
Other Investors
Adversarial (2014, San Francisco)
Enterprise threat protection platform
Minicorn. Stage: Unfunded
Bouju (2012, Los Angeles)
Enterprise brand protection
Minicorn. Stage: Funded
Plug and Play Tech Center, Skywood Capital, BAM
Ventures
Counterfeit.Technology (2014, Trevose)
Software for copyrights protection
Minicorn. Stage: Unfunded
IP Shark (2014, Los Angeles)
Online brand protection
Minicorn. Stage: Unfunded
Analyst’s Pick
Protect.ly (2015, Edinburgh)
Anti-piracy DMCA service to protect products from
online piracy!
Minicorn. Stage: Unfunded
ImageProtect (2013, San Clemente)
Online Image tracking
Editor's Pick. Stage: Unfunded
IP Shark (2014, San Francisco)
Online brand protection and IP management
software
Editor's Pick. Stage: Unfunded
IPHawk (2017, Thane)
Cloud-hosted AI-enabled IP protection platform
Editor's Pick. Stage: Funded
TiE Mumbai's SmashUp 7.0
Proofstack (2014, Istanbul)
Copyright service with qualified timestamp and
blockchain authentication
Editor's Pick. Stage: Unfunded
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics
60
Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Leaderboard
Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit
#3 Top Markets of Investment Activity
Better than Market Average
Market: Brand Protection & Anti-Counterfeit
Overall
Rating
Company
Name
Year Location Stage
Funding
($M)
Funding
Rounds
Team
Rating
Execution Quality Size Metrics 6M Growth Metrics
App
Rating
App UI
Web
UI
Social
Followers
Mobile
Downloads
Mobile
Reviews
News
Mentions
Mobile
Reviews
Social
Followers
Δ % Δ %
5.0 AppDetex 2011 Boise Series A $11.6M 6 - - - - 146 - - 4 - - 20 16%
4.7
MarkMonito
r
1999
San
Francisco
Acquired $12M 1 - - - - 3.1k 300 - - - - 77 3%
4.6 Red Points 2011 Barcelona Series B $26.2M 3 - - - 5 1.9k - - 4 - - -418 -18%
4.3 BrandShield 2010
Ramat
Hasharon
Series A $2.5M 2 3 - - - 214 - - 1 - - 47 28%
4.2 Incopro 2012 London Series B $28.4M 1 - - - 3 175 - - 1 - - - -
4.1 4iQ 2016
San
Francisco
Series A $14M 1 5 - - - - - - 4 - - - -
4.0 MUSO 2009 London Series A $3.2M 1 - - - - 1.1k - - 5 - - -11 -1%
4.0 Binded 2016
San
Francisco
Seed $1.5M 1 - - - 5 2k - - 1 - - -52 -3%
3.6 Cyveillance 1997 Reston Acquired $14M 1 - - - - 6 - - 2 - - - -
3.5
ImageProtec
t
2013
San
Clemente
Unfunded - - - - - - 13k - - 10 - - 4.6k 55%
3.5 Kopjra 2014 Bologna Seed $510k 3 - - - - 221 - - 1 - - 1 -
3.5
Global IP
Action
2015 Pfaeffikon Seed - 1 - - - - 506 - - - - - 14 3%
2.9
BrandProtec
t
2001 Toronto Funded - 1 - - - - - - - 3 - - - -
2.8 CitizenHawk 2006 Aliso Viejo Acquired $3M 1 - - - - - - - - - - - -
61
#4 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Contract Creation
Companies Created 66 | Funded 17 | Total Funding $67.4M
Market: Contract Creation
62
Legal Tech > Market Details > Market: Contract Creation
#4 Top Markets of Investment Activity
Market: Contract Creation
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201863
Legal Tech > Market Details > Market: Contract Creation
#4 Top Markets of Investment Activity
Better than Market Average
Market: Contract Creation
64
#5 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Contract Lifecycle Management
Companies Created 88 | Funded 21 | Total Funding $327M
Market: Contract Lifecycle Management
65
Legal Tech > Market Details > Market: Contract Lifecycle Management
#5 Top Markets of Investment Activity
Market: Contract Lifecycle Management
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201866
Legal Tech > Market Details > Market: Contract Lifecycle Management
#5 Top Markets of Investment Activity
Better than Market Average
Market: Contract Lifecycle Management
67
#6 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Review & Analytics
Companies Created 44 | Funded 14 | Total Funding $263M
Market: Review & Analytics
68
Legal Tech > Market Details > Market: Review & Analytics
#6 Top Markets of Investment Activity
Market: Review & Analytics
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201869
Legal Tech > Market Details > Market: Review & Analytics
#6 Top Markets of Investment Activity
Better than Market Average
Market: Review & Analytics
70
#7 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Analytics
Companies Created 68 | Funded 21 | Total Funding $59.7M
Market: Analytics
71
Legal Tech > Market Details > Market: Analytics
#7 Top Markets of Investment Activity
Market: Analytics
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201872
Legal Tech > Market Details > Market: Analytics
#7 Top Markets of Investment Activity
Better than Market Average
Market: Analytics
73
#8 Top Markets of Investment Activity
Legal Tech > Market Details > Market: e-Signature
Companies Created 84 | Funded 20 | Total Funding $571M
Market: e-Signature
74
Legal Tech > Market Details > Market: e-Signature
#8 Top Markets of Investment Activity
Market: e-Signature
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201875
Legal Tech > Market Details > Market: e-Signature
#8 Top Markets of Investment Activity
Better than Market Average
Market: e-Signature
76
#9 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Suite
Companies Created 108 | Funded 28 | Total Funding $347M
Market: Suite
77
Legal Tech > Market Details > Market: Suite
#9 Top Markets of Investment Activity
Market: Suite
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201878
Legal Tech > Market Details > Market: Suite
#9 Top Markets of Investment Activity
Better than Market Average
Market: Suite
79
#10 Top Markets of Investment Activity
Legal Tech > Market Details > Market: Spend Analytics
Companies Created 15 | Funded 7 | Total Funding $28.4M
Market: Spend Analytics
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201880
Legal Tech > Market Details > Market: Spend Analytics
#10 Top Markets of Investment Activity
Better than Market Average
Market: Spend Analytics
81
#1 Top Markets of Early Stage Investors
Legal Tech > Market Details > Market: SaaS
Companies Created 12 | Funded 5 | Total Funding $62.4M
Market: SaaS
82
Legal Tech > Market Details > Market: SaaS
#1 Top Markets of Early Stage Investors
Market: SaaS
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201883
Legal Tech > Market Details > Market: SaaS
#1 Top Markets of Early Stage Investors
Better than Market Average
Market: SaaS
84
#1 Other Notable Markets
Legal Tech > Market Details > Market: Consultation
Companies Created 113 | Funded 11 | Total Funding $134M
Market: Consultation
85
Legal Tech > Market Details > Market: Consultation
#1 Other Notable Markets
Market: Consultation
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201886
Legal Tech > Market Details > Market: Consultation
#1 Other Notable Markets
Better than Market Average
Market: Consultation
87
#2 Other Notable Markets
Legal Tech > Market Details > Market: Listing
Companies Created 109 | Funded 10 | Total Funding $1.9M
Market: Listing
88
Legal Tech > Market Details > Market: Listing
#2 Other Notable Markets
Market: Listing
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201889
Legal Tech > Market Details > Market: Listing
#2 Other Notable Markets
Better than Market Average
Market: Listing
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Public Companies
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
90
Notable Acquisitions
Top Acquirers
Acqui-hires
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Finance & Accounting Tech
Oct 2018
Business Intelligence
Oct 2018
Construction Tech
Oct 2018
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Public companies (1/2)
92
Performance indicators of public companies in Legal Tech
IPO Date Company
IPO
Mcap
Exchange
Ticker
May 2011
RPX Corporation (2008, San Francisco)
Patent Risk Solutions
$714M NASDAQ:RPXC
Feb 2005
VIQ Solutions (2004, Mississauga)
Transcription management solutions for multiple inddustries
CVE:VQS
Jun 2002
Thomson Reuters (1800, New York City)
Enterprise solutions for financial, risk, legal, tax and accounting
NYSE:TRI
Sep 1999
Loislaw (1987, New York City)
Legal and related information to lawyers and law firms
$293M NASDAQ:LOIS
Jun 1999
Ariba (1996, Sunnyvale)
e-Procurement, invoicing, and B2B collaboration software
$983M NASDAQ:ARBA
Aug 1997
Omtool (1991, Andover)
Provides document management workflows solutions
$103M NASDAQ:OMTL
Apr 1997
Epiq Systems (1988, Kansas City)
eDiscovery Services and Suite
EPIQ
May 1996
FTI Technology (1982, Washington D.C.)
FTI Technology: Software & Solutions for E-discovery
FCN
LegalZoom (2001, Glendale)
Legal Document Services
WSE:LGZ
Wolters Kluwer (1836, The Hague)
Suites for Legal office management and accounting firms
AMS:WKL
Legal Tech > Exit Outlook > Public Companies
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Public companies (2/2)
93
Performance indicators of public companies in Legal Tech
IPO Date Company
IPO
Mcap
Exchange
Ticker
Stratify (1999, Mountain View)
eDiscovery document review
Legal Tech > Exit Outlook > Public Companies
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Notable Acquisitions (1/4)
94
Notable Acquisitions in Legal Tech
Legal Tech > Exit Outlook > Notable Acquisitions
2018 YTD
Acquirer: DocuSign Deal: $220M
SpringCM (2005, Chicago, $128M)
Cloud Enterprise Content and Contract Mangement
Acquirer: HGGC Deal: $555M
RPX Corporation (2008, San Francisco)
Patent Risk Solutions
Acquirer: CloudNine
LexisNexis (1973, Albany)
Enterprise Legal Management.
Acquirer: Internet Brands
Avvo (2006, Seattle, $132M)
Legal marketplace, lawyer's directory, Q&A forum
and legal marketing
2017
Acquirer: Leonard Green and Partners
Deal: $3.1B
CPA Global (1969, Saint Helier, $20.6M)
IP Management
Acquirer: Anaqua
Lecorpio (2006, Fremont, $25M)
IP Management
Acquirer: HgCapital
Mitratech (1987, Austin, $20.5M)
Enterprise Legal Management solution
2016
Acquirer: Strait Lane Capital Partners
File & Serve Xpress (2012, Irving, $28.3M)
Online document exchange services and payment
solutions for legal professionals
Acquirer: LDiscovery Deal: $410M
Kroll Ontrack (1985, Minneapolis)
Data recovery and discovery management
Acquirer: Omers Deal: $1B
Epiq Systems (1988, Kansas City)
eDiscovery Services and Suite
Acquirer: OpenText Deal: $163M
Recommind (2000, San Francisco, $24M)
SaaS based Legal hold software for ediscovery
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Notable Acquisitions (2/4)
95
Notable Acquisitions in Legal Tech
Legal Tech > Exit Outlook > Notable Acquisitions
2015
Acquirer: Roper Technologies
Deal: $675M
Aderant (1978, Atlanta)
Legal Business management software
Acquirer: Epiq Systems Deal: $134M
Iris (2007, Olathe)
Legal Services
2014
Acquirer: KLDiscovery Deal: $70M
RenewData (2001, Austin, $41.4M)
eDiscovery service provider
2013
Acquirer: Insight Venture Partners
Anaqua (2004, Boston, $125M)
Asset management (IAM) software solution
Acquirer: Cerca Group
Inventus (1991, Chicago)
Document review platform
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Notable Acquisitions (3/4)
96
Notable Acquisitions in Legal Tech
Legal Tech > Exit Outlook > Notable Acquisitions
2012
Acquirer: IBM
StoredIQ (2001, Austin, $41.8M)
eDiscovery and Information Management
Acquirer: TransPerfect
Digital Reef (2003, Boxborough, $20M)
Early case assessment for eDiscovery solutions
Acquirer: SAP Deal: $4.3B
Ariba (1996, Sunnyvale)
e-Procurement, invoicing, and B2B collaboration
software
2011
Acquirer: HgCapital Deal: $236M
NetNames (1995, London)
Online brand protection & domain name
management
Acquirer: Epiq Systems Deal: $100M
Encore Discovery Solutions (2003, Phoenix)
Encore Discovery Solutions
2010
Acquirer: IBM
PSS Systems (2004, Mountain View, $47M)
legal holds and retention practices
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Notable Acquisitions (4/4)
97
Notable Acquisitions in Legal Tech
Legal Tech > Exit Outlook > Notable Acquisitions
2009
Acquirer: Broadridge Financial Solutions
AccessData (1987, Lindon, $20M)
Digital forensics and e-discovery solutions.
Before 2008
Acquirer: Micro Focus Deal: $9.7M
Relativity Technologies (1997, Raleigh,
$136M)
eDiscovery ERDM process management
Acquirer: Versata
Nextance (2000, Austin, $52.4M)
Enterprise contract management software
Others
Acquirer: Cantaro
Clio (2008, Burnaby, $27M)
Cloud-based legal practice management solutions
for SMBs
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Most Active Acquirers
98
Legal Tech > Exit Outlook > Most Active Acquirers
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Acqui-hires
99
List of Acqui-hires in Legal Tech
Excludes all details for Chinese companies
Date Target
Feb-16 LawFarm Acq by Lawr.co
Legal Tech > Exit Outlook > Acqui-hires
View all 1 Acqui-hired companies on Tracxn Platform
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
100
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players
Some more Sector Reports you might want to check out
Join 4000+ people taking sharper decisions with Tracxn
Finance & Accounting Tech
Oct 2018
Business Intelligence
Oct 2018
Construction Tech
Oct 2018
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018102
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE)
Legal Tech > Investors > Index of Most Active VC & PE Investors
Index of Top Investors (VC, PE) by Stage in Legal Tech; Last 5 years (Nov 2013 - Oct 2018)
Index of Most Active VC & PE Investors
SEED STAGE
Right Side Capital Management (4 Investments)
Seedcamp (3 Investments)
Seed Capital (3 Investments)
Ulu Ventures (2 Investments)
Greycroft Partners (2 Investments)
Founders Fund (2 Investments)
Crosslink Capital (2 Investments)
Foley Ventures (2 Investments)
Structure Capital (2 Investments)
Slow Ventures (2 Investments)
Sandalphon Capital (2 Investments)
AGO Partners (2 Investments)
Foundation Capital
Polaris Partners
Compound
EARLY STAGE
Eight Roads Ventures (2 Investments)
Menlo Ventures (2 Investments)
Ignition Partners
Bessemer Venture Partners
Polaris Partners
Greycroft Partners
Sequoia Capital
New Enterprise Associates
Charles River Ventures
Founders Fund
Alven
Toba Capital
LiveOak Venture Partners
Second Century Ventures
Accel Partners
LATE STAGE
Bessemer Venture Partners
GV
Shunwei Capital
Sequoia Capital
Intel Capital
Qualgro GP
Bain Capital Ventures
In-Q-Tel
TCV
Point Nine Capital
Cross Creek Advisors
B Capital Group
The Stephens Group
Bridge Investments
E.ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Right Side Capital Management
103
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Right Side Capital Management
Investments
[Minicorn] NexLP (2013, Chicago, $5.1M, Series A)
Insights from unstructured data using NLP and Machine Learning
Legal Tech Notable Portfolio
[Unicorn] Compass (2012, New York City, $1.2B, Series F)
Technology driven Online brokerage firm
[Soonicorn] ClassPass (2011, New York City, $307M, Series D)
Membership programs for fitness classes across multiple gyms
[Soonicorn] DataRobot (2012, Boston, $225M, Series D)
Automated machine learning platform for data science applications
[Soonicorn] Leanplum (2012, San Francisco, $145M, Series D)
Mobile A/B testing, personalization & analytics platform
[Soonicorn] DigitalOcean (2011, New York City, $134M, Series
B)
Cloud computing platform to build, deploy and scale cloud applications
[Soonicorn] Threat Stack (2012, Boston, $72.2M, Series C)
Intrusion detection platform for cloud, hybrid-cloud, and on-premise
environments
[Soonicorn] Distil Networks (2011, Arlington, $65M, Series C)
Content protection network and anti bot solution
[Soonicorn] Synack (2013, Menlo Park, $55.3M, Series C)
Crowdsourced Vulnerability Discovery
[Minicorn] Amino Apps (2011, New York City, $72.4M, Series C)
Online communities enabler
[Minicorn] Bluecore (2013, New York City, $63.2M, Series C)
Automated personalized trigger-based email marketing
[Minicorn] TradingView (2011, Chicago, $40.7M, Series B)
Stock charting solution
Other Notable Portfolio
Top Exits Recent News on Fund & Portfolio
Geographical Spread Stage of Entry
Oct 2018
Wilson Sonsini Goodrich & Rosati Leads with
Commitment to Pro Bono, PR Newswire
Sep 2018
PactSafe Launches Chat-to-Sign, Converting Live
Conversations Into Legally Binding Contracts, Business
Wire
Jul 2018
PactSafe Secures $5.5M Series A to Scale High-Velocity
Contracting Solution, Business Wire
Jan 2018 NexLP Welcomes Damon Goduto as New SVP, PRWeb
Jan 2018
Vector Legal Method Announces Release of Litigation
Management Platform, Kansas City Breaking News
May 2017 PactSafe Unveils the Contract Execution Platform, PRWeb
Nov 2015
PactSafe Gains Momentum: Secures $1.2M in Total
Funding, Launches New Developer API, and Completes
San Francisco-Based Acceleprise Program, PactSafe
Nov 2015
Venture Capital Access Online | Venture Capital News,
VCA Online
Sep 2015 Separate.Us Wants To Bring Divorce Online, TechCrunch
May 2014
10 New Companies for Techstars Summer 2014 Chicago
Session - Techstars, Techstars
None
1
3
2013 2014 2015 2016 2017 2018
Follow On New Investments
3
-
-
-
4
Undisclosed
Series C+
Series B
Series A
Seed7
-
-
-
-
US
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Seedcamp
104
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Seedcamp
People
Investments
[Minicorn] Legal Robot (2015, San Francisco, Seed)
AI for contract review
[Minicorn] Beagle (2014, Toronto, Seed)
AI using NLP for Contract Automation
[Editor's Pick] Juro (2016, London, $2M, Seed)
Contract management solutions
Legal Tech Notable Portfolio
[Unicorn] UiPath (2005, Bucharest, $441M, Series C)
Robotic process automation software
[Unicorn] TransferWise (2010, London, $397M, Series E)
International money transmitter based on currency swaps
[Unicorn] Revolut (2014, London, $340M, Series C)
Cloud money app for currency exchange.
[Soonicorn] Wefox (2014, Zurich, $33.5M, Series B)
Insurance policy management platform
[Soonicorn] Property Partner (2014, London, $32.6M, Series
B)
Equity based crowdfunding platform for real estate investments
[Minicorn] Monese (2013, London, $75.8M, Series B)
Mobile-only neo bank for both individuals and businesses
[Minicorn] eMoov (2010, Brentwood, $45.9M, Series B)
Listing syndication for home owners
[Minicorn] FishBrain (2010, Gothenburg, $28.5M, Series B)
Mobile social network for fishers
[Minicorn] Trussle (2015, London, $25.9M, Series B)
Authorized online mortgage advisory firm
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Reshma Sohoni
Co-Founder &
Managing Partner
Geographical Spread Stage of Entry
Aug 2018
London legaltech startup Apperio scores $10m from
Draper Esprit, City A.M.
Jul 2018
Industrial robots startup Gideon Brothers raises $765K
led by TransferWise co-founder, TechCrunch
Jun 2018
The bank of the future, Monzo, selects Apperio to increase
visibility over legal spend, Legal IT Professionals
Apr 2018
Juro grabs $2M to take the hassle out of contracts,
TechCrunch
Feb 2018
Apperio finalist for the 'Analytics Project of the Year'
Award at The National Technology Awards, Legal IT
Professionals
Nov 2017
SA legaltech startup Libryo to partner with Swiss regtech
startup Apiax, Ventureburn
Oct 2017
Libryo Secures $1Million Seed Round For Expansion,
FundingSMEs
Sep 2017
Startup Libryo secures seed-round money for global
companies to understand legal operations | Bdaily, Bdaily
Jul 2017
Two African Startups Make The Digital Switzerland
Kickstart Accelerator, Innovation-village
None
11 1 1 1
2013 2014 2015 2016 2017 2018
Follow On New Investments
1
-
-
-
4
Undisclosed
Series C+
Series B
Series A
Seed2
1
1
1
-
Europe
South Africa
US
Canada
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Ulu Ventures
105
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Ulu Ventures
People
Investments
[Minicorn] Everlaw (2010, Berkeley, $34.6M, Series B)
Ediscovery and litigation
[Minicorn] Hire An Esquire (2011, New York City, $350k, Series
A)
Just in time attorney resources
Legal Tech Notable Portfolio
[Unicorn] Palantir (2004, Palo Alto, $2.8B, Series J)
Intelligence products to Augment Human Driven Analysis
[Unicorn] Social Finance (2011, San Francisco, $2.1B, Series G)
Educational loans marketplace
[Soonicorn] Proterra (2004, Greenville, $655M, Series G)
Electric bus manufacturer
[Soonicorn] Taulia (2009, San Francisco, $137M, Series E)
Electronic invoicing and dynamic discounting solution.
[Soonicorn] Kahuna (2012, Palo Alto, $64.4M, Series B)
Mobile Marketing and Communication Automation
[Soonicorn] Comprehend (2010, Palo Alto, $60.5M, Series C)
Software-as-a-solution for clinical operations teams
[Soonicorn] Remind (2011, San Francisco, $59.5M, Series D)
Communication platform for teachers to send bulk messages to
students and parents
[Soonicorn] Euclid Analytics (2010, Palo Alto, $43.6M, Series C)
Analytics for offline retail
[Soonicorn] Clever (2012, San Francisco, $43M, Series B)
Platform for single sign-in and centralized app assessment
[Minicorn] Ellevest (2014, New York City, $55.6M, Series B)
Women focused automated investment platform.
Other Notable Portfolio
Top Exits
Recent News on Fund & Portfolio
Miriam Rivera
Co-Founder &
Managing Director
Clint Korver
Co-Founder &
Managing Director
Geographical Spread Stage of Entry
Sep 2018
Securities Cases Involving Cryptocurreny Rising – Lex
Machina Report, BlockTribune
Aug 2018
Lex Machina Launches Legal Analytics Module for
Insurance Litigators, IIReporter
Jun 2018
AI-fueled legal tech company Everlaw plans to double
headcount in the next year , The Business Journals
Jun 2018
Everlaw Secures $25 Million Series B Funding to Help
Litigators Win, GlobeNewswire
Apr 2018
Lex Machina's Inaugural Product Liability Litigation
Report Focuses on Burgeoning Medical Device and
Pharmaceutical Product Case Filings, PR Newswire
Feb 2018
Lex Machina's Fifth Annual Patent Litigation Year in
Review Report Quantifies the Impact of the Landmark TC
Heartland v. Kraft Supreme Court Case, PR Newswire
Feb 2018
LexisNexis and Lex Machina Named Legal A.I. Leaders In
National Law Journal’s Inaugural List, PRWeb
Dec 2017
Everlaw Adds Media Transcription for Faster, More
Insightful Ediscovery, GlobeNewswire
Jan 2016
Daily funding roundup - January 14, 2016 | VatorNews,
Vator
Lex Machina
(2009, Menlo Park, $10M)
Acq by LexisNexis - Nov 2015
Ravellaw
(2012, Palo Alto, $9.2M)
Acq by LexisNexis - Jun 2017
BayTSP
(1999, Santa Clara, $1.3M)
Acq by Irdeto - Oct 2011
1
2
2013 2014 2015 2016 2017 2018
Follow On New Investments
2
-
-
-
5
Undisclosed
Series C+
Series B
Series A
Seed7
-
-
-
-
US
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Greycroft Partners
106
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Greycroft Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Founders Fund
107
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Founders Fund
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Crosslink Capital
108
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Crosslink Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Structure Capital
109
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Structure Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Foundation Capital
110
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Foundation Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Polaris Partners
111
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Polaris Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Compound
112
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Compound
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
113
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Eight Roads Ventures
114
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Eight Roads Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Menlo Ventures
115
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Menlo Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Ignition Partners
116
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Ignition Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Bessemer Venture Partners
117
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Bessemer Venture Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Polaris Partners
118
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Polaris Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Greycroft Partners
119
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Greycroft Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Sequoia Capital
120
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Sequoia Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
New Enterprise Associates
121
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > New Enterprise Associates
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Charles River Ventures
122
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Charles River Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Founders Fund
123
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Founders Fund
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Alven
124
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Alven
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Toba Capital
125
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Toba Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
LiveOak Venture Partners
126
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > LiveOak Venture Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Second Century Ventures
127
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Second Century Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Accel Partners
128
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Accel Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
129
Details on VC & PE Investors
Seed Stage
Early Stage
Late Stage
Details on Top Ecosystem Players
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Bessemer Venture Partners
130
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Bessemer Venture Partners
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
GV
131
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > GV
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Shunwei Capital
132
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Shunwei Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Sequoia Capital
133
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Sequoia Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Intel Capital
134
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Intel Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Qualgro GP
135
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Qualgro GP
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Bain Capital Ventures
136
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Bain Capital Ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
In-Q-Tel
137
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > In-Q-Tel
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
TCV
138
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > TCV
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Point Nine Capital
139
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Point Nine Capital
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Cross Creek Advisors
140
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > Cross Creek Advisors
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
B Capital Group
141
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > B Capital Group
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
The Stephens Group
142
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > The Stephens Group
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
E.ventures
143
Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter
Legal Tech > Investors > E.ventures
Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018
Contents
Feed Summary
Investment Trend
Market Details
Exit Outlook
Investors
News
Appendix
144
Details on VC & PE Investors
Details on Top Ecosystem Players
Incubators
Other Notable Investors
Debt Investors
Tracxn - Legal Tech Startup Landscape
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Tracxn - Legal Tech Startup Landscape

  • 2. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 2 TAKE SHARPER DECISIONS WITH TRACXN  Analyst team Covering 250+ Sectors  Proprietary Business Model tagging  6000+ On-demand Queries answered  Sector Reports, Market Maps  One-Click Connect with Founders Join 500+ Investors & Corporates to get the Tracxn Advantage
  • 3. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 3 Feed Summary Investment Trend Summary Exit Outlook Summary BlueBox Summary of Key Markets Notable Companies in the Sector Recent News
  • 4. Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on November 12, 2018. Legal Tech Feed Summary 4 Legal Tech > Feed Summary Technology solutions for Law firms and Corporate Legal Departments • Inclusions: Legal Practice Management, eDiscovery, Lawyers' Marketplace, Dispute resolution platforms, legal contract management, legal research, and Intellectual Property Management • Exclusions: Legal firms and Managed Service Providers • Excludes funding information of Chinese companies Feed in Numbers Overview $3.3B Funding 22 Mega Companies 4642250 FundedCovered on Tracxn 8 Unicorns 11 Soonicorns 76 Minicorns 11 IPO’d Cos 144 Late Stage Cos 36 126 Acquisitions 218 DeadPooled 1 Acquihired Series A+ Cos Wolters Kluwer (1836, The Hague) LexisNexis (1973, Albany) Thomson Reuters (1800, New York City) Top Companies
  • 5. Investment Trend Summary Summary of Funding Activity in Legal Tech 5 $50M - Series D Icertis (2009, Seattle, $96M) $25M - Series E SpringCM (2005, Chicago, $128M) $50M - Series A Kira Systems(2011, Toronto, $50M) $25M - Series C Icertis (2009, Seattle, $96M) $38M - Series D PatSnap (2007, Singapore, $100M) $25M - Series B Concord (2015, San Francisco, $48.5M) $30M - Series B Seal Software (2010, San Francisco, $34.1M) $25M - Series B Logikcull (2004, San Francisco, $42.5M) $28.4M - Series B Incopro (2012, London, $28.4M) $25M - Series B Everlaw (2010, Berkeley, $34.6M) Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend *YTD *YTD Legal Tech > Feed Summary > Investment Trend Summary Seed Right Side Capital Management (#4), Seedcamp (#3), Seed Capital (#3) Series A/B Eight Roads Ventures (#2), Menlo Ventures (#2), Ignition Partners (#1) Series C+ Bessemer Venture Partners (#1), GV (#1), Shunwei Capital (#1) Incubators 500 Startups (#16), Y Combinator (#12), Techstars (#8) Other Notable Investors Nextlaw Labs (#7), Kima Ventures (#4), Iconiq Capital (#2) Debt Investors The Carlyle Group (#3), Abacus Finance Group (#2), Silicon Valley Bank (#2) Most Active InvestorsRecent Investments 189 261 406 266 134 24 2013 2014 2015 2016 2017 2018* Y-o-Y # of Companies Founded 74 64 79 80 77 66 $2.7B $192M $74.1M $56.3M $28.3M US Europe Canada SEA Israel $ Funding $493M $192M $358M $770M $199M $203M $1B 72 2013 2014 2015 2016 2017 2018* $ Funding $ Funding Predicted # Rounds # Rounds Predicted
  • 6. Summary of exit outlook in Legal Tech Exit Outlook Summary 66 Most Active AcquirersTop Investors in Exits Kleiner Perkins 3 DocuSign (2003, San Francisco, $522M) LegalZoom (2001, Glendale, $266M) Intel Capital 2 DocuSign (2003, San Francisco, $522M) Relativity Technologies (1997, Raleigh, $136M) Silicon Valley Bank 2 SpringCM (2005, Chicago, $128M) Recommind (2000, San Francisco, $24M) Iconiq Capital 2 DocuSign (2003, San Francisco, $522M) Relativity Technologies (1997, Raleigh, $136M) Sapphire Ventures 2 DocuSign (2003, San Francisco, $522M) Recommind (2000, San Francisco, $24M) May 2018 RPX Corporation Acq by HGGC for $555M Aug 2017 CPA Global Acq by Leonard Green and Partners for $3.1B Oct 2016 Kroll Ontrack Acq by LDiscovery for $410M Jul 2016 Epiq Systems Acq by Omers for $1B Oct 2015 Aderant Acq by Roper Technologies for $675M May 2012 Ariba Acq by SAP for $4.3B Legal Tech > Feed Summary > Exit Outlook Summary Wolters Kluwer 5 Datacert (Apr 2014), CitizenHawk (Sep 2013), Smartlaw (Sep 2014) Thomson Reuters 3 MarkMonitor (Jul 2012), Serengeti Law (Oct 2010), Business Integrity (Oct 2015) Internet Brands 3 Avvo (Jan 2018), Total Attorneys (Feb 2015), Nolo (May 2011) LexisNexis 3 Lex Machina (Nov 2015), Ravellaw (Jun 2017), Verilaw Technologies (May 2004) Mitratech 3 Viewabill (Mar 2016), CaseTrack (Aug 2015), Bridgeway Software (Jul 2015) Recent IPOs Top Acquisitions Ariba Jun 1999 e-Procurement, invoicing, and B2B collabo… IPO MCap: $983M Omtool Aug 1997 Provides document management workflows so… IPO MCap: $103M Epiq Systems Apr 1997 eDiscovery Services and Suite IPO MCap: - FTI Technology May 1996 FTI Technology: Software & Solutions for… IPO MCap: - RPX Corporation May 2011 Patent Risk Solutions IPO MCap: $714M VIQ Solutions Feb 2005 Transcription management solutions for mu… IPO MCap: - Thomson Reuters Jun 2002 Enterprise solutions for financial, risk,… IPO MCap: - Loislaw Sep 1999 Legal and related information to lawyers… IPO MCap: $293M
  • 7. FACTSHEET Marketmap: Legal Tech SUITE LEGAL DOCUMENTS/FORMS SUITE AFTER-LIFE PLANNING PRACTICE & CONTRACT PRACTICE MANAGEMENT CONTRACT MANAGEMENT CASE & MATTER MANAGEMENT BILLING & SPEND ANALYTICS CREATION ANALYSIS LITIGATION RESEARCH eDISCOVERY SEARCH ENGINE ANALYTICS LEGAL RESEARCH ASSISTANT* MARKETPLACE INTELLECTUAL PROPERTY SUITE BRAND PROTECTION & ANTI-COUNTERFEIT PATENT ANALYTICS Overview Companies 2250 Funded 464 Series A+ 144 Funding $3.3B Last 2 yrs $707M Most Active Investors Seed Right Side Capital Management (4) Series A/B Eight Roads Ventures (2) Series C+ Bessemer Venture Partners (1) Others Nextlaw Labs (7) Incubators 500 Startups (16) Top Cities Bay Area 147 Cos $1.1B Seattle 19 Cos $304M Feed in Numbers Unicorns 8 Soonicorns 11 Minicorns 76 Editor Picks 155 Acquihired 1 Deadpooled 218 Top Companies Thomson Reuters (1800, New York City) Wolters Kluwer (1836, The Hague) LexisNexis (1973, Albany) Exits IPOs 11 Ariba, RPX Corporation Acquisitions 126 Ariba, CPA Global Top Acquirers Wolters Kluwer, Thomson Reuters For any Feedback and Query reach out to MyAnalyst@tracxn.com * Upcoming Business Model Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.7 Feed Report - LegalTech - Nov 2018 Legal Tech > Feed Summary > BlueBox
  • 8. Key Sub Sectors in Legal Tech Sector Summary of Key Markets 8 Other Notable Markets # Cos on Platform Last 2 Years $ Invested # Round Lawyer's Marketplace > Consultation 113 $1.4M 3 Top Markets of Investment Activity # Cos on Platform Last 2 Years $ Invested # Round Legal Contract Management > Contract Analytics & Due Dilligence 57 $122M 16 Intellectual Property (IP) Management > Patent Analytics & Management 84 $55.1M 12 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit 57 $67.2M 9 Legal Contract Management > Contract Creation 66 $57.7M 10 Legal Contract Management > Contract Lifecycle Management 88 $114M 7 eDiscovery > SaaS > Review & Analytics 44 $59.7M 8 Legal Research > Analytics 68 $26.7M 10 Legal Contract Management > Contract Creation > e-Signature 84 $27.7M 7 Legal Forms > Suite 108 $10.5M 5 Sub Sectors # Cos Tracked # Funded Total Funding Legal Contract Management Companies offering contract lifecycle management platform which spans across contract... 309 91 $1.1B eDiscovery Companies offering a platform to manage emails, documents, and media files for litigation... 133 53 $683M Intellectual Property (IP) Management Companies offering solutions for IP management including filing, tracking, analytics,... 218 63 $483M Legal Forms Companies offering online DIY legal form services for individuals, SMBs, and Enterprises... 207 49 $386M Lawyer's Marketplace Companies offering legal services marketplace for connecting consumers, businesses, attorneys... 436 60 $210M Legal Practice Management Companies offering legal practice management platform for end to end client intake to... 552 64 $132M Legal Research Companies offering legal database resources & analytics to help lawyers to make data-driven... 171 39 $100M Legal Tech > Feed Summary > Summary of Key Markets
  • 9. List of Notable Companies in Legal Tech Notable Companies in the Sector 9 Note: *(Founded Year, Location, Total Funding) Legal Tech > Feed Summary > Notable Companies in the Sector Public Loislaw (1987, New York City)* Omtool (1991, Andover) LegalZoom (2001, Glendale, $266M) Thomson Reuters (1800, New York City) Wolters Kluwer (1836, The Hague) VIQ Solutions (2004, Mississauga) FTI Technology (1982, Washington D.C.) Stratify (1999, Mountain View) Acquired Ariba (1996, Sunnyvale) CPA Global (1969, Saint Helier, $20.6M) Epiq Systems (1988, Kansas City) Aderant (1978, Atlanta) RPX Corporation (2008, San Francisco) Kroll Ontrack (1985, Minneapolis) NetNames (1995, London) SpringCM (2005, Chicago, $128M) Recommind (2000, San Francisco, $24M) Iris (2007, Olathe) Acquired Encore Discovery Solutions (2003, Phoenix) Unicorns DocuSign (2003, San Francisco, $522M) Relativity Technologies (1997, Raleigh, $136M) LexisNexis (1973, Albany)
  • 11. List of Notable Companies by Market in Legal Tech Notable Companies by Market (1/5) 11 Legal Tech > Feed Summary > Notable Companies by Market Enterprise Legal Management(Suite) Enterprise Legal Management(Suite) Mitratech (1987, Austin, $20.5M) Enterprise Legal Management solution Soonicorn. Stage: Acquired Noble Rock, Vista Equity Partners, TA Associates Management LexisNexis (1973, Albany) Enterprise Legal Management. Unicorn. Stage: Acquired Thomson Reuters (1800, New York City) Enterprise solutions for financial, risk, legal, tax and accounting Unicorn. Stage: Public One Equity Partners Wolters Kluwer (1836, The Hague) Suites for Legal office management and accounting firms Unicorn. Stage: Public MMF Capital Legal Practice Management Suite Clio (2008, Burnaby, $27M) Cloud-based legal practice management solutions for SMBs Soonicorn. Stage: Acquired Bessemer Venture Partners, Acton Capital Partners, Point Nine Capital and 1 Other Investors Aderant (1978, Atlanta) Legal Business management software Stage: Acquired Prospect Street Ventures Document Assembly & Automation Omtool (1991, Andover) Provides document management workflows solutions Stage: Acquired Summit Partners
  • 12. List of Notable Companies by Market in Legal Tech Notable Companies by Market (2/5) 12 Legal Tech > Feed Summary > Notable Companies by Market eDiscovery MSP + SaaS Lighthouse eDiscovery (1995, Seattle, $36.8M) eDiscovery services and technology Soonicorn. Stage: Series A CIT, Spire Capital, Columbia Pacific Advisors Recommind (2000, San Francisco, $24M) SaaS based Legal hold software for ediscovery Stage: Acquired Sapphire Ventures, Kennet Partners, Silicon Valley Bank and 3 Other Investors AccessData (1987, Lindon, $20M) Digital forensics and e-discovery solutions. Soonicorn. Stage: Acquired Ron Mika, Matt Marsh, Sorenson Capital and 1 Other Investors Encore Discovery Solutions (2003, Phoenix) Encore Discovery Solutions Stage: Acquired Baird Capital MSP + SaaS Epiq Systems (1988, Kansas City) eDiscovery Services and Suite Stage: Acquired VantEdge Partners, ValueAct Capital FTI Technology (1982, Washington D.C.) FTI Technology: Software & Solutions for E- discovery Stage: Public Iris (2007, Olathe) Legal Services Stage: Acquired Kroll Ontrack (1985, Minneapolis) Data recovery and discovery management Stage: Acquired TA Associates Management Stratify (1999, Mountain View) eDiscovery document review Stage: Public In-Q-Tel, Mobius Venture Capital SaaS Relativity Technologies (1997, Raleigh, $136M) eDiscovery ERDM process management Unicorn. Stage: Acquired Iconiq Capital, Intel Capital, Tall Oaks Capital Partners and 4 Other Investors Disco (2012, Houston, $50.6M) SaaS based eDiscovery for litigation boutiques and AmLaw 200 Soonicorn. Stage: Series C Bessemer Venture Partners, LiveOak Venture Partners, The Stephens Group
  • 13. List of Notable Companies by Market in Legal Tech Notable Companies by Market (3/5) 13 Legal Tech > Feed Summary > Notable Companies by Market Legal Research Legal Search Engine Loislaw (1987, New York City) Legal and related information to lawyers and law firms Stage: Acquired Capital Resource Partners Legal Contract Management Contract Lifecycle Management SpringCM (2005, Chicago, $128M) Cloud Enterprise Content and Contract Mangement Soonicorn. Stage: Acquired Crestline Investors, Foundation Capital, North Bridge and 9 Other Investors Icertis (2009, Seattle, $96M) Cloud based contract management solutions Soonicorn. Stage: Series D Meritech Capital Partners, Cross Creek Advisors, B Capital Group and 5 Other Investors Ariba (1996, Sunnyvale) e-Procurement, invoicing, and B2B collaboration software Unicorn. Stage: Acquired Intel, The Beekman Group, Van Wagoner Ventures and 3 Other Investors Contract Creation DocuSign (2003, San Francisco, $522M) Digital Transaction Management Tool Unicorn. Stage: Series F Hercules Capital, Intel Capital, Dell Technologies and 55 Other Investors
  • 14. List of Notable Companies by Market in Legal Tech Notable Companies by Market (4/5) 14 Legal Tech > Feed Summary > Notable Companies by Market Intellectual Property (IP) Management Suite Anaqua (2004, Boston, $125M) Asset management (IAM) software solution Soonicorn. Stage: Acquired Bessemer Venture Partners, Lead Edge Capital, The Cambria Group CPA Global (1969, Saint Helier, $20.6M) IP Management Unicorn. Stage: Acquired Epiris, ICG, Electra Private Equity Patent Analytics & Management PatSnap (2007, Singapore, $100M) Provides a search platform for patents Soonicorn. Stage: Series D Sequoia Capital, Shunwei Capital, Qualgro GP and 3 Other Investors RPX Corporation (2008, San Francisco) Patent Risk Solutions Stage: Acquired Index Ventures, Charles River Ventures, Kleiner Perkins Brand Protection & Anti-Counterfeit NetNames (1995, London) Online brand protection & domain name management Stage: Acquired
  • 15. List of Notable Companies by Market in Legal Tech Notable Companies by Market (5/5) 15 Legal Tech > Feed Summary > Notable Companies by Market Legal Forms Suite LegalZoom (2001, Glendale, $266M) Legal Document Services Unicorn. Stage: Public Permira investment, IVP, Kleiner Perkins and 8 Other Investors Rocket Lawyer (2008, San Francisco, $53.4M) Online legal services Soonicorn. Stage: Series E Industry Ventures, August Capital, Investor and 6 Other Investors Lawyer's Marketplace Consultation Avvo (2006, Seattle, $132M) Legal marketplace, lawyer's directory, Q&A forum and legal marketing Soonicorn. Stage: Acquired TCV, Coatue, Vulcan Capital and 3 Other Investors Courtroom Solutions Transcription Workflow Management Software VIQ Solutions (2004, Mississauga) Transcription management solutions for multiple inddustries Stage: Public Tera Capital
  • 16. Recent News in Legal Tech Sector Recent News 16 Legal Tech > Feed Summary > Recent News Nov 2018 LexisNexis® Risk Solutions wins Chartis RiskTech100® 2019 award for Financial Crime - Data, PR Newswire Nov 2018 Factbox: Plans for electric vehicle battery production in Europe, Reuters Nov 2018 Wolters Kluwer to Become Exclusive Production, Promotion and Distribution Partner for National Institute for Trial Advocacy, PR Newswire Nov 2018 DocuSign And NAR Partner To Offer Products To Digital Neophytes, Inman Nov 2018 DISCO Selected By Private Credit Manager, TexasTechPulse Nov 2018 Zylpha's All New Bundling System Transforms Legal Documentation Standards, RealWire Nov 2018 Thomson Reuters’ $650 Million Waterfall Tender Offer, Global Legal Chronicle Nov 2018 Thomson Reuters eyes 'substantive' purchases after Blackstone deal, Reuters Nov 2018 Thomson Reuters reports better-than-expected quarterly profit, Channel NewsAsia Nov 2018 Wolters Kluwer's ELM Solution Introduces Legal Holds Module, Enhancements for Passport® and TyMetrix® 360° Solutions, Business Wire Nov 2018 Exari Improves Compliance with Cyber Exposure Solution for the Insurance Industry, PR Newswire Key Recent News Key Recent News Nov 2018 Relativity Announces the Release of Relativity Trace--a New App for Proactive Risk Management and Compliance, PR Newswire Nov 2018 Wolters Kluwer Tax & Accounting Recognized by the Golden Bridge Awards, Citybizlist Nov 2018 Dennemeyer Group Acquires octimine technologies, FinSMEs Nov 2018 ideaPoint Launches New Software to More Easily Capture Partnering Opportunities and Novel Ideas, Business Wire Nov 2018 Onit Ranks #11 on Houston Chronicle’s Top Workplaces, Citybizlist Nov 2018 Rocket Matter Partners with BirdEye to Help Law Firms Build…, BestProductsReview Nov 2018 Cornerstone Technologies, a Subsidiary of Sonasoft, Partners with Exterro to Extend its E-Discovery Services Into Enterprise Market, NewMediaWire Nov 2018 Icertis Strengthens Executive Team With Experienced Microsoft and Startup CFO, PR Newswire Oct 2018 Daily funding roundup - October 31st, 2018, Vator Oct 2018 DISCO Expands Global Presence with European Data Centre and UK Office, Business Wire Oct 2018 Consilio Acquires Document review and Compliance Solution Provider, DiscoverReady, ReadITQuik Oct 2018 Frontier Capital exits MultiLing investment, Private Equity Wire Oct 2018 Virtual Court rooms take another step forward, Global Legal Post
  • 17. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 17 Funding Trends Median Deal Size and Trend New Entrants in Funding Club Distribution of companies by Funding Range Funding Funnel of the Sector Top Investments and Investors Investors in Unicorn club
  • 18. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Finance & Accounting Tech Oct 2018 Business Intelligence Oct 2018 Construction Tech Oct 2018
  • 19. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Investments ($M) and number of rounds in Legal Tech; 2011-2018 Global Funding Trends (1/2) 19 Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies Legal Tech > Investment Trends > Global Funding Trends #Rounds $Funding 3 Year CAGR 6 Year CAGR 6% # of Rounds12% $ Funding 21% # of Rounds 17% $ Funding $493M $103M $201M $192M $358M $770M $199M $203M $1B 0 10 20 30 40 50 60 70 80 90 $0k $200M $400M $600M $800M $1.B $1.2B 2011 2012 2013 2014 2015 2016 2017 2018* $ Funding Predicted $ Funding # Rounds Predicted # Rounds
  • 20. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 $6M $16M $16M $17M $33M $27M $38M $37M $78M $102M $67M $66M $66M $117M $115M $348M $19M $83M $109M $276M $671M $55M $50M $108M 2011 2012 2013 2014 2015 2016 2017 2018 YTD Seed Early Stage Late Stage 16 19 46 37 47 47 50 24 8 12 16 22 19 24 23 37 1 4 12 5 13 9 4 5 2011 2012 2013 2014 2015 2016 2017 2018 YTD Seed Early Stage Late Stage 25 66 Total # of Rounds $103M $493M Total $ Invested 20 Note: Mega Rounds = rounds with size > $20M. Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies Stage-wise Number of RoundsStage-wise $ Invested New Entrants in Funded Club Global Funding Trends (2/2) Investments ($M) and number of rounds in Legal Tech; 2011-2018 Legal Tech > Investment Trends > Global Funding Trends 37 32 33 42 39 36 29 248 $4.1M $1.9M $0.0M $0.5M $1.0M $1.5M $2.0M $2.5M $3.0M $3.5M $4.0M $4.5M 0 50 100 150 200 250 300 2012 2013 2014 2015 2016 2017 2018 YTD Total Entrants in Funding Club Avg. Ticket Size $4.1M $1.5M $1.6M $1.2M $1.1M $0.9M $2.9M $1.9M $311M $66M $114M $73M $258M $619M $0K $50M $651M 11 0 2 4 6 8 10 12 0 100000000 200000000 300000000 400000000 500000000 600000000 700000000 2011 2012 2013 2014 2015 2016 2017 2018 YTD $ Funding Predicted $ Funding # of Rounds Predicted # Rounds Mega Rounds 1 3 3 3 6 - 2 10
  • 21. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201821 Legal Tech > Investment Trends > Funding Trends by Geography Investments ($M) and number of rounds in Legal Tech Funding Trends by Geography Funding Trends by Geography Top Cities of Funding City $ Funding # Rounds Bay Area 1.1B 125 Seattle 304M 28 Glendale 266M 2 Austin 158M 25 Chicago 139M 22 Raleigh 136M 4 New York City 92.6M 46 Houston 86.9M 12 Boston 67.3M 11 London 63.2M 25 Total Funding 238 119 11 15 7 13 2 13 # Rounds $2.7B $192M $74.1M $56.3M $28.3M $24.4M $20.6M $6.3M US Europe Canada SEA Israel India Channel Islands Australia Note: Excludes funding information of China companies
  • 22. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201822 Trend of Average Deal Size ($M) $0.5 $0.9 $0.4 $0.6 $1.0 $0.9 $1.1 2011 2012 2013 2014 2015 2016 2017 $2.2 $5.0 $5.1 $2.8 $5.1 $4.9 $4.7 $23.2 $20.8 $0.0 $5.9 $10.0 $13.0 $9.8 $18.5 $20.7 $9.9 $68.9 $61.0 $10.9 $25.0 Legal Tech > Investment Trends > Median Deal Size and Trend Median and Average Deal Size in $M (per Stage) in Legal Tech; 2011-2017 Median Deal Size and Trend Note: Excludes funding information of Chinese companies. *Graph not to scale Median Deal Size and Range $10K* $5M $21K $50M $1.5M $66M $395K $233M $17.5M $12M $3.7M $572K Series C+ Series B Series A Seed Stage
  • 23. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Note: 223 companies with undisclosed funding amount are not included 23 <$1M $1-10M $10-50M $50-100M $100M+ Funding Range 86 101 53 5 7 No. of Companies Legal Tech > Investment Trends > Distribution of companies by Funding Range No. of companies by funding range in Legal Tech; as of Nov 2018 Distribution of companies by Funding Range $31M $364M $1.1B $302M $1.4B $ Investment
  • 24. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Stage No. of Companies Funding Funnel 100% 21% 6% 3% 2% 24 Note: Numbers in the brackets show the count of companies Time to raise next round 36 65 144 464 2250 Series C+ Series B Series A Funded Founded Next Round 100M+ Valuation Exits Acqui- Hired Dead Pooled Others 21% 1% (32) 1% (22) 0% (1) 10% (217) 70% (1568) 31% 7% (31) 5% (21) - 7% (31) 62% (289) 45% 12% (17) 5% (7) - 1% (1) 54% (78) 55% 25% (16) 9% (6) - - 45% (29) - 42% (15) 11% (4) - - 31% (11) Legal Tech > Investment Trends > Funding Funnel Number of companies progressing to subsequent funding stages in Legal Tech Funding Funnel 18 Months 23 Months 47 Months Investment backedBootstrapped 11 8 78 11 Soonicorns Unicorns Acquisitions IPOs
  • 25. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201825 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018 Notable Investments in last 24 months (1/4) LATE STAGE $50M - Series D Feb 2018 Icertis (2009, Seattle, $96M) Cloud based contract management solutions Meritech Capital Partners, Cross Creek Advisors, B Capital Group, Ignition Partners, Greycroft Partners, Eight Roads Ventures, PSP Partners $38M - Series D Jun 2018 PatSnap (2007, Singapore, $100M) Provides a search platform for patents Sequoia Capital, Shunwei Capital, Qualgro GP $25M - Series E Feb 2017 SpringCM (2005, Chicago, $128M) Cloud Enterprise Content and Contract Mangement Crestline Investors $25M - Series C Mar 2017 Icertis (2009, Seattle, $96M) Cloud based contract management solutions B Capital Group, Ignition Partners, Greycroft Partners, Eight Roads Ventures, E.ventures LATE STAGE $20M - Series C Jan 2018 Disco (2012, Houston, $50.6M) SaaS based eDiscovery for litigation boutiques and AmLaw 200 Bessemer Venture Partners, LiveOak Venture Partners, The Stephens Group Series C Nov 2016 PatSnap (2007, Singapore, $100M) Provides a search platform for patents Sequoia Capital, Shunwei Capital, Qualgro GP Series C May 2017 Zapproved (2008, Portland, $17.2M) SaaS based Ediscovery Vista Equity Partners EARLY STAGE $50M - Series A Sep 2018 Kira Systems (2011, Toronto, $50M) Contract automation Insight Venture Partners $30M - Series B Jun 2018 Seal Software (2010, San Francisco, $34.1M) Contract analysis: Clause extraction and review Toba Capital $28.4M - Series B May 2018 Incopro (2012, London, $28.4M) IP and brand protection services Highland Europe $25M - Series B Oct 2018 Concord (2015, San Francisco, $48.5M) e-signature and contract management solution Tenaya Capital, Charles River Ventures, Alven
  • 26. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201826 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018 Notable Investments in last 24 months (2/4) EARLY STAGE $25M - Series B Jan 2018 Logikcull (2004, San Francisco, $42.5M) eDiscovery New Enterprise Associates, OpenView, Storm Ventures $25M - Series B Jun 2018 Everlaw (2010, Berkeley, $34.6M) Ediscovery and litigation Menlo Ventures, Andreessen Horowitz $20M - Series B May 2018 Notarize (2015, Boston, $31M) Online Notary service Polaris Partners, Lennar, Second Century Ventures, Realogy, Fifth Wall Ventures, Founders Fund, National Association of Realtors $12M - Series B Apr 2018 LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer Aleph Venture Capital, Lool Ventures EARLY STAGE $12M - Series B Mar 2017 Casetext (2013, Palo Alto, $20.8M) AI-based legal research assistant Canvas Ventures, Union Square Ventures, 8VC, Red Sea Ventures $12M - Series B Mar 2018 UpCounsel (2012, San Francisco, $26M) Online workplace for legal services $11.6M - Series A Jun 2018 Doctrine.fr (2016, Paris, $13.8M) Big Data for legal research analytics Otium, Xаvier Niel $10M - Series A Jan 2018 Concord (2015, San Francisco, $48.5M) e-signature and contract management solution Charles River Ventures, Alven $10M - Series A Nov 2017 Luminance AI (2015, Cambridge, $13M) AI for legal due diligence Talis Capital, Invoke Capital, Slaughter and May EARLY STAGE $8.7M - Series A Oct 2017 ROSS Intelligence (2014, San Francisco, $8.8M) Legal Research technology Inovia Capital, Comcast Ventures Catalyst, Y Combinator, Real Ventures, Nextlaw Labs, Nicolas Pinto, Continuity Capital Partners $7M - Series A Mar 2017 LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer LionBird, Lool Ventures, Recruit Holdings $6.3M - Series A Dec 2016 Concord (2015, San Francisco, $48.5M) e-signature and contract management solution $5M - Series A May 2017 LegalRaasta (2015, Delhi, $6M) Online legal services provider Impanix Capital
  • 27. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201827 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018 Notable Investments in last 24 months (3/4) EARLY STAGE $4.4M - Series A Oct 2018 Lexoo (2014, London, $5.7M) Marketplace for posting legal jobs and hiring solicitors at fixed fee. Earlybird Venture Capital, Forward Partners, Ned Staple $4M - Series A Jan 2018 CloudLex (2015, New York City, $7.7M) Project and case management for Trial Lawyers and Law firms Aligned Partners Venture Services, Axis Capital Partners $3.7M - Series A Apr 2018 Litify (2016, New York City, $8.7M) Law firm practice managaement Esquire Bank $3.7M - Series A May 2017 Concord (2015, San Francisco, $48.5M) e-signature and contract management solution Alven, Streamlined Ventures, Cota Capital, Tien Tzuo EARLY STAGE $3.5M - Series B Oct 2017 TrademarkNow (2012, Helsinki, $7.7M) Trademark search and Analytics Karma Ventures, Balderton Capital $3.2M - Series A Jun 2017 MUSO (2009, London, $3.2M) Online Anti Piracy Platform Harwell Capital $3M - Series A Oct 2017 NexLP (2013, Chicago, $5.1M) Insights from unstructured data using NLP and Machine Learning Dundee Venture Capital $1.9M - Series A Nov 2017 LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs $1.8M - Series A Jul 2018 LawPath (2013, Sydney, $3.7M) Legal forms and lawyer marketplace. LegalZoom EARLY STAGE $84.9k - Series A Jul 2017 Seal Software (2010, San Francisco, $34.1M) Contract analysis: Clause extraction and review Tern Series A May 2018 Kira Systems (2011, Toronto, $50M) Contract automation Bowmans Series A Oct 2017 Notarize (2015, Boston, $31M) Online Notary service National Association of Realtors Series A Dec 2016 Luminance AI (2015, Cambridge, $13M) AI for legal due diligence Talis Capital Series A Nov 2016 Hire An Esquire (2011, New York City, $350k) Just in time attorney resources Nextlaw Labs
  • 28. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201828 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Notable Investments in last 24 months Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018 Notable Investments in last 24 months (4/4) SEED STAGE $2.4M - Seed Dec 2017 Heretik (2017, Chicago, $2.4M) Legal contracts reviewing platform Corazon Capital, Chicago Ventures $2.2M - Seed Sep 2018 Oneflow (2012, Stockholm, $2.2M) Contract creation, authoring and e-signature solutions Spintop Ventures $543k - Seed Jul 2017 Doxly (2016, Indianapolis, $3.6M) Legal transaction management platform $345k - Seed Jun 2017 Kopjra (2014, Bologna, $510k) digital rights management Casalini Zambon, Club Digital $330k - Seed Aug 2018 Doxly (2016, Indianapolis, $3.6M) Legal transaction management platform SEED STAGE $310k - Seed Nov 2016 LawRato (2012, Delhi, $410k) Online open marketplace for lawyers Indian Angel Network, BVC Ventures $300k - Seed Jan 2017 LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs $120k - Seed Feb 2018 Oathello (2016, Dublin, $120k) On demand lawyers and notary services Techstars Seed Dec 2016 Beagle (2014, Toronto) AI using NLP for Contract Automation Nextlaw Labs
  • 29. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201829 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Notable Investments in last 24 months in China Major funding rounds by Stage in Legal Tech; Nov 2016-Nov 2018 Notable Investments in last 24 months in China LATE STAGE $52.3M - Series C Aug 2018 BestSign (2014, Hangzhou, $74M) Electronic signature platform Matrix Partners China, DCM Ventures, Morningside venture Capital, Tiger Global Management Series C Feb 2017 Kuaifawu (2014, Beijing, $10M) Online marketplace to avail legal services like taxation, patent and trademark registration to Chinese start-ups. Tencent
  • 30. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Most Active Investors (VC, PE) by Stage in Legal Tech; Last 5 years (Nov 2013-Nov 2018) Most Active VC & PE Investors 30 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investment Trends > Most Active VC & PE Investors SEED STAGE Right Side Capital Management(4 Investments) Vector Legal Method, Paladin, Legalinc 1 Seedcamp(3 Investments) Juro, Libryo, Legal Robot 2 Seed Capital(3 Investments) Swiftcourt, LegalDesk, Archii 3 Ulu Ventures (2 Investments) Bridge US, Hire An Esquire 4 Crosslink Capital (2 Investments) UpCounsel, Fairclaim 5 Foley Ventures(2 Investments) Page Vault, Esquify 6 Greycroft Partners (2 Investments) ZenBusiness, Fairclaim 7 Founders Fund (2 Investments) ZenBusiness, LawPal 8 Structure Capital (2 Investments) Fixed, Fixed 9 Slow Ventures(2 Investments) ZenBusiness, Fixed 10 EARLY STAGE Eight Roads Ventures (2 Investments) Icertis, Red Points 1 Menlo Ventures(2 Investments) UpCounsel, Everlaw 2 Charles River Ventures Concord 3 Alven Concord 4 Ignition Partners Icertis 5 New Enterprise Associates Logikcull 6 Polaris Partners Iridium Technology 7 Foundry Group HelloSign 8 Mangrove Capital Partners Red Points 9 Greycroft Partners Icertis 10 LATE STAGE Bessemer Venture Partners Clio 1 GV DocuSign 2 Shunwei Capital PatSnap 3 Sequoia Capital PatSnap 4 Qualgro GP PatSnap 5 B Capital Group Icertis 6 The Stephens Group Disco 7 Intel Capital DocuSign 8 Bain Capital Ventures DocuSign 9 In-Q-Tel Brainspace 10
  • 31. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201831 Legal Tech > Investment Trends > Most Active Ecosystem Investors Top Ecosystem Investors in Legal Tech; Last 5 years (Nov 2013-Nov 2018) Most Active Ecosystem Investors INCUBATOR/ACCELERATOR 500 Startups(16 Investments) Ironclad, LawTrades, Wevorce 1 Y Combinator(12 Investments) HelloSign, Airhelp, Casetext 2 Techstars(8 Investments) Wevorce, NexLP, Vector Legal Method 3 NDRC(4 Investments) Brightflag, Oathello, Vizlegal 4 Plug and Play Tech Center(3 Investments) Tomorrow, Bouju, AdviseHub 5 Startupbootcamp(2 Investments) Signaturit, Seal Agreements 6 Boost VC(2 Investments) Visabot, Bitproof 7 PreSeed Ventures(2 Investments) LegalDesk, Archii 8 NFX(2 Investments) Reach, Headnote 9 Acceleprise(2 Investments) PactSafe, Legalinc 10 OTHER NOTABLE INVESTORS Nextlaw Labs(7 Investments) ROSS Intelligence, Apperio, Doxly 1 Kima Ventures(4 Investments) Doctrine.fr, Modria, LawPal 2 Wayra(2 Investments) Brightflag, Oito Tecnologia Juridica 3 Microsoft Ventures(2 Investments) Kelsen, ClearContract 4 Iconiq Capital(2 Investments) DocuSign, Relativity Technologies 5 Recruit Holdings(2 Investments) DocuSign, LawGeex 6 Vista Equity Partners(2 Investments) Mitratech, Zapproved 7 West View Capital Partners(2 Investments) LDiscovery, KLDiscovery 8 LegalZoom(2 Investments) LawPath, Legalbase 9 Square 1 Bank SpringCM 10 DEBT INVESTORS The Carlyle Group(3 Investments) DTI, LDiscovery, KLDiscovery 1 Silicon Valley Bank(2 Investments) Onit, Recommind 2 Wellington Financial(2 Investments) SpringCM, Exari 3 The North West Fund(2 Investments) Datalaw, Rekoop 4 Abacus Finance Group(2 Investments) RenewData, LDiscovery 5 Hercules Capital DocuSign 6 Maranon Capital LDiscovery 7 Mercia Technologies The Link App 8 Horizon Technology Finance SpringCM 9 Providence Equity Partners Abacus Data Systems 10
  • 32. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201832 Legal Tech > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (1/2)
  • 33. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201833 Legal Tech > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (2/2)
  • 34. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201834 Legal Tech > Investment Trends > Unicorn Investors in the Sector Unicorn Investors in the Sector
  • 35. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 35 BlueBox Key Sub Sectors Detailed Sector Taxonomy Top Markets of Investment Activity Top Markets of Early Stage Investors Other Notable Markets Market Deep Dive
  • 36. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Finance & Accounting Tech Oct 2018 Business Intelligence Oct 2018 Construction Tech Oct 2018
  • 37. Marketmap: Legal Tech Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.37 Feed Report - LegalTech - Nov 2018 Legal Tech > Market Details > BlueBox
  • 38. Key Sub Sectors (1/2) 38 Key Sub Sectors in Legal Tech Market Top Companies # Cos Tracked # Funded Total Funding Legal Contract Management Companies offering contract lifecycle management platform which spans across contract creation, revi.... SpringCM (2005, Chicago, Acquired) DocuSign (2003, San Francisco, $522M) 309 91 $1.1B eDiscovery Companies offering a platform to manage emails, documents, and media files for litigation process th.... Relativity Technologies (1997, Raleigh, Acquired) Disco (2012, Houston, $50.6M) 133 53 $683M Intellectual Property (IP) Management Companies offering solutions for IP management including filing, tracking, analytics, anti- counterfeit management etc. Anaqua (2004, Boston, Acquired) PatSnap (2007, Singapore, $100M) 218 63 $483M Legal Forms Companies offering online DIY legal form services for individuals, SMBs, and Enterprises LegalZoom (2001, Glendale, Public) Rocket Lawyer (2008, San Francisco, $53.4M) 207 49 $386M Lawyer's Marketplace Companies offering legal services marketplace for connecting consumers, businesses, attorneys and lawyers Avvo (2006, Seattle, Acquired) Notarize (2015, Boston, $31M) 436 60 $210M Legal Practice Management Companies offering legal practice management platform for end to end client intake to invoicing with.... Clio (2008, Burnaby, Acquired) Apperio (2012, London, $12.7M) 552 64 $132M Legal Research Companies offering legal database resources & analytics to help lawyers to make data-driven decision.... Lex Machina (2009, Menlo Park, Acquired) Casetext (2013, Palo Alto, $20.8M) 171 39 $100M Enterprise Legal Management(Suite) Companies offering legal suite solutions for end-to-end enterprise legal practice management, contra.... Mitratech (1987, Austin, Acquired) Onit (2009, Houston, $21.4M) 22 6 $56.9M Legal Tech > Market Details > Key Sub Sectors
  • 39. Key Sub Sectors (2/2) 39 Key Sub Sectors in Legal Tech Market Top Companies # Cos Tracked # Funded Total Funding Dispute Resolution Companies offering out-of-court dispute resolution platform for small claim cases Modria (2011, San Jose, Acquired) Airhelp (2013, New York City, $17.1M) 80 22 $48.6M Courtroom Solutions Companies offering a remote appearance platform for court sessions and trial presentation solutions Veritext (1997, Florham Park, Acquired) Trint (2014, London, $3.1M) 37 8 $4.8M Legal Tech > Market Details > Key Sub Sectors
  • 40. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (1/7) 40 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 41. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (2/7) 41 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 42. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (3/7) 42 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 43. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (4/7) 43 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 44. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (5/7) 44 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 45. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (6/7) 45 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 46. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Detailed Sector Taxonomy (7/7) 46 Legal Tech > Market Details > Detailed Sector Taxonomy
  • 47. Rank Market Last 2 Years $ Invested # Round Top Funded Company 1 (+4) Legal Contract Management > Contract Analytics & Due Dilligence Companies offering an AI based platform for reviewing, parsing and tagging documents (Companies covered 57 | Funded 26 | Total Funding $178M) $122M (+$106M) 16 (+9) Kira Systems (2011, Toronto, $50M) 2 (+6) Intellectual Property (IP) Management > Patent Analytics & Management Companies offering tools for patent analytics and management (Companies covered 84 | Funded 23 | Total Funding $146M) $55.1M (+$41.9M) 12 (+8) PatSnap (2007, Singapore, $100M) 3 (+1) Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit Companies offering brand protection & anti-counterfeit management solutions related to core IP (Companies covered 57 | Funded 22 | Total Funding $119M) $67.2M (+$48.8M) 9 (+2) Incopro (2012, London, $28.4M) 4 (+3) Legal Contract Management > Contract Creation Companies designing templates for creating contract forms (Companies covered 66 | Funded 17 | Total Funding $67.4M) $57.7M (+$50.1M) 10 (+2) Concord (2015, San Francisco, $48.5M) 5 (-4) Legal Contract Management > Contract Lifecycle Management Companies offering an end-to-end contract management platform (Companies covered 88 | Funded 21 | Total Funding $327M) $114M (+$53.8M) 7 (-3) Icertis (2009, Seattle, $96M) 6 (-2) eDiscovery > SaaS > Review & Analytics Companies offering SaaS based eDiscovery review & analytics platform (Companies covered 44 | Funded 14 | Total Funding $263M) $59.7M (-$110M) 8 (+1) Everlaw (2010, Berkeley, $34.6M) 7 (+2) Legal Research > Analytics Companies developing platform for analytics on lawyers, judges etc (Companies covered 68 | Funded 21 | Total Funding $59.7M) $26.7M (+$20.7M) 10 (+5) Doctrine.fr (2016, Paris, $13.8M) 47 Note: The numbers in the bracket represent the change in a 2 year period. Top Markets of Investment Activity (1/2) Top Markets by Funding in Legal Tech in last 2 years (November 2016 - October 2018) Legal Tech > Market Details > Top Markets of Investment Activity
  • 48. 48 Top Markets of Investment Activity (2/2) Legal Tech > Market Details > Top Markets of Investment Activity
  • 49. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Rank Market # Investments Key Investments 1 eDiscovery > SaaS Companies offering SaaS based eDiscovery solutions (Companies created 12 | Funded 5 | Total Funding $62.4M ) 1 Logikcull (2004, San Francisco, $42.5M) 2 Legal Contract Management > Contract Creation > e-Signature Companies offering contract digital signature management solutions to convert them into legally binding documents (Companies created 84 | Funded 20 | Total Funding $571M ) 1 HelloSign (2011, San Francisco, $16M) 3 Legal Contract Management > Contract Lifecycle Management Companies offering an end-to-end contract management platform (Companies created 88 | Funded 21 | Total Funding $327M ) 1 Ironclad (2014, San Francisco, $13.3M) Note: Investors considered - Sequoia Capital, Accel Partners, Andreessen Horowitz, NEA, Greylock Partners, General Catalyst Partners, Benchmark Capital, KPCB, Khosla Ventures, Redpoint Ventures, Founders Fund, SV Angel, Index Ventures, Bessemer Venture Partners, Lightspeed Venture Partners, Venrock, Draper Fisher Jurvetson, Institutional Venture Partners, Intel Capital, Battery Ventures 49 Top Markets of Early Stage Investors Top Markets where Early Stage Investors are investing in last 2 years (November 2016 - October 2018) Legal Tech > Market Details > Top Markets of Early Stage Investors
  • 50. Rank Market Last 2 Years # of Comp Founded $ Invested # Round Top Funded Company 1 Lawyer's Marketplace > Consultation Companies offering an online legal consultation platform (Companies covered 113 | Funded 11 | Total Funding $134M) 44 $1.4M (+$1.4M) 3 (+3) Pravoved.ru (2011, St. Petersburg, $1M) 2 Lawyer's Marketplace > Listing & Booking > Listing Companies offering a pure-play lawyer listing platform (Companies covered 109 | Funded 10 | Total Funding $1.9M) 33 $0 (0) 0 (-) Legal Reach (2012, San Francisco, $900k) 50 Other Notable Markets Other Notable Markets with high Entrepreneurial Activity in Legal Tech in last 2 years (November 2016 - October 2018) Legal Tech > Market Details > Other Notable Markets
  • 51. Incubators Y Combinator (#1) Seed Nextlaw Labs (#1), Seedcamp (#1) Series A/B Toba Capital (#1), Foundry Group (#1) Series C+ Apogee Legal Jul - 2018 Acq by Seal Software Counselytics Apr - 2018 Acq by Conga $50M - Series A Kira Systems (2011, Toronto, $50M) $30M - Series B Seal Software (2010, San Francisco, $34.1M) $4.7M - Series A Contract Wrangler (2016, San Mateo, $4.7M) $2.2M - Angel LinkSquares (2015, Somerville, $2.2M) Series A Kira Systems (2011, Toronto, $50M) $12M - Series B LawGeex (2014, Tel Aviv, $22.3M) $120k - Seed Lawyaw (2016, San Francisco, $120k) $1.2M - Seed Hyperlex (2017, Paris, $1.2M) $2.4M - Seed Heretik (2017, Chicago, $2.4M) $10M - Series A Luminance AI (2015, Cambridge, $13M) Oct 2018 Luminance launches eDiscovery product to assist with litigation, Legal IT Professionals Sep 2018 Intralinks and Axiom Alliance Benefits European Dealmakers, PR Newswire Sep 2018 FTI Consulting Teams with Kira Systems, Citybizlist Sep 2018 Kira Systems closes $50 mln Series A with Insight Venture Partners, PE Hub Aug 2018 Seal Software Bolsters Strength in Legal Services, Pharma and Healthcare Sectors With Key Appointments, PRWeb Aug 2018 Seal Software Named to Inc. 5000 List of America’s Fastest- Growing…, BestProductsReview Jun 2018 Weightmans strikes partnership with University of Liverpool and Kira Systems, Insider Media Jun 2018 Seal Software Releases New Version of Seal Content and Analytics, Technology-Signals May 2018 LinkSquares raises $2M seed round for software to save paper pushers, The Business Journals Apr 2018 Luminance extends AI platform to regulatory compliance work, Global Legal Post Mar 2018 Lawyaw uses AI to help lawyers draft documents faster, Technology Thrill Mar 2018 Thomson Reuters collaborate with eBrevia for AI-driven contract remediation, Finextra Mar 2018 AI Faster and More Accurate at Analyzing Contracts Than Top Lawyers, Disruptor Daily News 2 1 9 26 57 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Legal Contract Management > Contract Analytics & Due Dilligence: Market Factsheet 51 Exits Most Active Investors Recent InvestmentsCompanies offering an AI based platform for reviewing, parsing and tagging documents Kira Systems (2011, Toronto, $50M) Seal Software (2010, San Francisco, $34.1M) Axiom (2000, New York City, $28M) LawGeex (2014, Tel Aviv, $22.3M) Luminance AI (2015, Cambridge, $13M) Top Companies #1 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence Companies Created 57 | Funded 26 | Total Funding $178M 0 5 10 $0k $100M $200M $300M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Contract Analytics & Due Dilligence
  • 52. 52 Legal Contract Management > Contract Analytics & Due Dilligence: Top Companies Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence #1 Top Markets of Investment Activity Market: Contract Analytics & Due Dilligence (1/2) Analyst’s Pick Kira Systems (2011, Toronto, $50M) Contract automation Minicorn. Stage: Series A Insight Venture Partners, Bowmans Seal Software (2010, San Francisco, $34.1M) Contract analysis: Clause extraction and review Minicorn. Stage: Series B Toba Capital, Tern, Kreos Capital Axiom (2000, New York City, $28M) Contract analysis and legal services Editor's Pick. Stage: Series A Carrick Capital Partners, DAG Ventures, Benchmark Capital and 4 Other Investors LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer Minicorn. Stage: Series B Aleph Venture Capital, Lool Ventures, LionBird, Recruit Holdings Analyst’s Pick Luminance AI (2015, Cambridge, $13M) AI for legal due diligence Minicorn. Stage: Series A Talis Capital, Invoke Capital, Slaughter and May, Vision Leverton (2012, Berlin, $5.5M) Intelligent Information Extraction Minicorn. Stage: Series A LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs Minicorn. Stage: Series A Birchmere Labs, Carnegie Mellon University, Birchmere Ventures Heretik (2017, Chicago, $2.4M) Legal contracts reviewing platform Minicorn. Stage: Seed Corazon Capital, Chicago Ventures, Service Provider Capital Analyst’s Pick eBrevia (2011, Stamford, $2M) Machine learning to automate contract review in due diligence, lease abstraction, contract mgmt, & doc drafting. Minicorn. Stage: Seed Connecticut Innovations, Rothenberg Ventures Counselytics (2013, New York City, $850k) contract review using Machine Learning Minicorn. Stage: Acquired Great Oaks Venture Capital, Compound Lawyaw (2016, San Francisco, $120k) AI enbaled solutions for legal document drafting Editor's Pick. Stage: Seed Y Combinator, Revel Partners Beagle (2014, Toronto) AI using NLP for Contract Automation Minicorn. Stage: Seed Nextlaw Labs, Creative Destruction Lab, Seedcamp, GTAN Crux IQ (2016, Chennai) Intelligent contract analytics Minicorn. Stage: Unfunded
  • 53. 53 Legal Contract Management > Contract Analytics & Due Dilligence: Top Companies Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence #1 Top Markets of Investment Activity Market: Contract Analytics & Due Dilligence (2/2) Analyst’s Pick Legal Robot (2015, San Francisco) AI for contract review Minicorn. Stage: Seed Seedcamp Ayfie (2016, New York City) Text analytics and enterprise search platform Editor's Pick. Stage: Funded Weslake Ventures LexaTexer (2013, Berlin) Predictive analytics solutions for multiple industries Editor's Pick. Stage: Unfunded rfrnz (2017, Munich) Contract analysis using Artificial intelligence technologies Editor's Pick. Stage: Funded Techfounders
  • 54. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 54 Legal Contract Management > Contract Analytics & Due Dilligence: Leaderboard Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence #1 Top Markets of Investment Activity Better than Market Average Market: Contract Analytics & Due Dilligence Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 Kira Systems 2011 Toronto Series A $50M 2 - - - 4 3.4k - - 14 - - 459 16% 5.0 Luminance AI 2015 Cambridge Series A $13M 3 - - - - 1.5k - - 19 - - 395 39% 5.0 Seal Software 2010 San Francisco Series B $34.1M 3 - - - - 895 - - 13 - - 106 13% 4.8 Axiom 2000 New York City Series A $28M 1 - - - 4 4.7k - - 12 - - 253 6% 4.5 LegalSifter 2013 Pittsburgh Series A $4.9M 4 - - - - 715 - - 3 - - 99 16% 4.1 Heretik 2017 Chicago Seed $2.4M 1 - - - 4 237 - - 1 - - 83 54% 3.9 LawGeex 2014 Tel Aviv Series B $22.3M 4 - - - - - - - 5 - - - - 3.6 eBrevia 2011 Stamford Seed $2M 5 - - - - 1.4k - - 1 - - 44 3% 3.6 Brightleaf 2006 Westwood Series A $6.9M 3 - - - - 266 - - - - - 7 3% 3.5 Contract Wrangler 2016 San Mateo Series A $4.7M 1 - - - 4 28 - - - - - 10 56% 3.4 LinkSquares 2015 Somerville Seed $2.2M 1 - - - - 320 - - 1 - - 23 8% 3.2 Apogee Legal 2015 Charlotte Acquired - - 5 - - 4 54 - - 1 - - 7 15% 2.8 Counselytics 2013 New York City Acquired $850k 2 - - - - 595 - - - - - -321 -35% 2.5 reDock 2016 Ottawa Funded - - - - - 4 215 - - - - - 22 11% 2.4 Leverton 2012 Berlin Series A $5.5M 1 - - - - - - - 1 - - - -
  • 55. Incubators Arch Grants (#1), Capital Innovators (#1) Seed Eniac Ventures (#1), Voyager Capital (#1) Series A/B Foundation Capital (#1), Kleiner Perkins (#1) Series C+ Shunwei Capital (#1), Sequoia Capital (#1) octimine technologies Nov - 2018 Acq by Dennemeyer Filing Analytics Sep - 2018 Acq by CPA Global RPX Corporation May - 2011 IPO'd on NASDAQ AcclaimiP Apr - 2016 Acq by Anaqua Innography Nov - 2015 Acq by CPA Global PatentCore Jul - 2014 Acq by Reed Tech Pantros IP Oct - 2013 Acq by IP.com $4M - Series A Aistemos (2013, London, $4M) $38M - Series D PatSnap (2007, Singapore, $100M) $2.6M - Seed Legit (2016, Cambridge, $2.6M) $2.1M - Seed IPwe (2017, Dover, $2.1M) $3.2M - Series A TurboPatent (2010, Seattle, $6.7M) $983k - Seed Iamip (2013, Stockholm, $2.1M) Nov 2018 Dennemeyer Group Acquires octimine technologies, FinSMEs Oct 2018 IP.com lands deal with OnePetro, Rochester Business Journal Oct 2018 Wolters Kluwer Partners with Alt Legal to Enhance Trademark Docketing Abilities, PR Newswire Aug 2018 IPwe And BlockHiro Announce Strategic Relationship, AIThority Jul 2018 The West is Set to Lose the Innovation Arms Race, PRWeb Jul 2018 Loci is using blockchain technology to tell you if your invention is unique, VentureBeat Jun 2018 UK-based patent analytics startup Aistemos raises £3 million from Beringea, Tech.eu Jun 2018 IP platform PatSnap picks up $38M from Sequoia and Xiaomi founder’s fund, TechCrunch Jun 2018 Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against RPX Corporation (RPXC), GlobeNewswire May 2018 Zeno sells 4 network security patent to SF-based RPX Corporation, Indiatimes May 2018 HGGC agrees $555m take-private of patent risk, management business RPX Corporation, AltAssets May 2018 BRIEF-RPX Corp To Be Acquired By HGGC For $10.50 Per Share, Reuters Apr 2018 Legit Raises $2.6M Seed, Citybizlist Feb 2018 PatSnap releases Workspaces cloud platform, Research Live Dec 2017 RPX : Announces Executive Changes, 4-Traders News 8 2 8 23 84 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Intellectual Property (IP) Management > Patent Analytics & Management: Market Factsheet 55 Exits Most Active Investors Recent InvestmentsCompanies offering tools for patent analytics and management RPX Corporation (2008, San Francisco) PatSnap (2007, Singapore, $100M) Innography (2006, Austin, $14M) TurboPatent (2010, Seattle, $6.7M) Aistemos (2013, London, $4M) Top Companies #2 Top Markets of Investment Activity Legal Tech > Market Details > Market: Patent Analytics & Management Companies Created 84 | Funded 23 | Total Funding $146M 0 5 10 $0k $50M $100M $150M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Patent Analytics & Management
  • 56. 56 Intellectual Property (IP) Management > Patent Analytics & Management: Top Companies Legal Tech > Market Details > Market: Patent Analytics & Management #2 Top Markets of Investment Activity Market: Patent Analytics & Management Analyst’s Pick PatSnap (2007, Singapore, $100M) Provides a search platform for patents Soonicorn. Stage: Series D Sequoia Capital, Shunwei Capital, Qualgro GP and 3 Other Investors Aistemos (2013, London, $4M) IP analytics platform Editor's Pick. Stage: Series A Beringea, ProVen VCTs Legit (2016, Cambridge, $2.6M) AI-based platform for creating invention disclosure forms Editor's Pick. Stage: Seed Eniac Ventures, Elementum Ventures, Max Ventures and Industries and 5 Other Investors IPwe (2017, Dover, $2.1M) Blockchain-based patent registry system Editor's Pick. Stage: Seed Analyst’s Pick Juristat (2012, St. Louis, $1.7M) Legal analytics for lawfirms Minicorn. Stage: Seed Arsenal Capital Management, The Entrust Group, Arch Grants, Capital Innovators CognitionIP (2018, Palo Alto) Patent filing and analytics solution provider Editor's Pick. Stage: Funded Y Combinator, Trifecta Capital, Zeno Ventures
  • 57. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 57 Intellectual Property (IP) Management > Patent Analytics & Management: Leaderboard Legal Tech > Market Details > Market: Patent Analytics & Management #2 Top Markets of Investment Activity Better than Market Average Market: Patent Analytics & Management Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 PatSnap 2007 Singapore Series D $100M 5 - - - - 1.2k - - 16 - - 122 12% 3.7 TurboPatent 2010 Seattle Series A $6.7M 3 - - - - 71 - - 2 - - 10 16% 3.4 octimine technologies 2012 Munich Acquired $1.1M 1 - - - 4 376 - - 2 - - 6 2% 3.4 Alt Legal 2013 New York City Seed $100k 1 - - - 5 8 - - 2 - - 3 60% 3.4 IPwe 2017 Dover Seed $2.1M 1 - - - 4 2.8k - - 2 - - - - 3.4 Juristat 2012 St. Louis Seed $1.7M 6 - - - - 1.4k - - - - - 11 1% 3.4 Teqmine 2013 Helsinki Seed $540k 1 - - - - 243 - - 1 - - 323 - 404% 3.3 Aistemos 2013 London Series A $4M 1 - - - - 1.1k - - 2 - - -6 -1% 3.2 IPlytics 2014 Berlin Seed - 1 - - - - 562 - - 3 - - 10 2% 2.9 RPX Corporation 2008 San Francisco Acquired - 3 - - - - - - - 17 - - - - 2.9 Legit 2016 Cambridge Seed $2.6M 2 - - - 4 172 - - 1 - - -5 -3% 2.9 FirstToFile 2000 San Mateo Acquired $3.9M 2 - - - - 90 - - 1 - - -1 -1% 2.7 Iamip 2013 Stockholm Seed $2.1M 2 - - - 4 1.2k - - - - - -24 -2% 2.7 Innography 2006 Austin Acquired $14M 4 - - - - 3 - - 2 - - -2481 - 100%
  • 58. Incubators Vectr Ventures (#1), Mistletoe (#1) Seed Trident Capital (#1), Social Starts (#1) Series A/B Foundation Capital (#1), Eight Roads Ventures (#1) Series C+ Cyveillance Dec - 2015 Acq by LookingGlass Topple Track Jun - 2015 Acq by Symphonic Distribution Web IP Apr - 2014 Acq by NetNames CitizenHawk Sep - 2013 Acq by Wolters Kluwer MarkMonitor Jul - 2012 Acq by Thomson Reuters BayTSP Oct - 2011 Acq by Irdeto NetNames Oct - 2011 Acq by HgCapital for $236M $28.4M - Series B Incopro (2012, London, $28.4M) $12M - Series B Red Points (2011, Barcelona, $26.2M) $12M - Series B Red Points (2011, Barcelona, $26.2M) $1.1M - Series A BrandShield (2010, Ramat Hasharon, $2.5M) $3.2M - Series A MUSO (2009, London, $3.2M) $345k - Seed Kopjra (2014, Bologna, $510k) Oct 2018 MUSO launches Piracy by Industry Dashboard, Advanced Television May 2018 Vaultitude Creates Unified Blockchain-Based Solution for Intellectual Property Management, Coinspeaker May 2018 Corsearch Announces Strategic Partnerships with Key- Systems GmbH and INCOPRO, Business Wire May 2018 AI is finding out when the person using your account isn’t you, The Next Web May 2018 PhishLabs and BrandProtect Merge to Become the Leading Provider of Threat Intelligence and Mitigation Solutions, PRWeb May 2018 Brand protection company Red Points raises an additional $12 million in Series B funding, Tech.eu Jan 2018 Red Points takes $12M to help brands beat fakes, TechCrunch Dec 2017 Image Protect Inc. Achieves 300% Efficiency Increase in Infringement Case Settlement Time; Core software engineering breakthrough expedites average case settlement time to 46 Days, GlobeNewswire Dec 2017 Blenheim Natural Resources Buys BrandShield Stake Amid Blockchain Deal, London South East Dec 2017 Security company discovers database of 1.4B user credentials on the dark web, SiliconAngle Dec 2017 Image Protect Inc. Announces Historic Rise in Current Active Infringement Cases, NewMediaWire Dec 2017 Red Points is helping brands win the war against counterfeiters, Silicon Republic News 7 1 12 22 57 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Market Factsheet 58 Exits Most Active Investors Recent InvestmentsCompanies offering brand protection & anti-counterfeit management solutions related to core IP Incopro (2012, London, $28.4M) Red Points (2011, Barcelona, $26.2M) 4iQ (2016, San Francisco, $14M) Cyveillance (1997, Reston, $14M) MarkMonitor (1999, San Francisco, $12M) Top Companies #3 Top Markets of Investment Activity Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit Companies Created 57 | Funded 22 | Total Funding $119M 0 2 4 6 $0k $50M $100M $150M 2014 2015 2016 2017 2018 Predicted Funding YoY Funding Rounds Predicted Rounds YoY Funding and Rounds Market: Brand Protection & Anti-Counterfeit
  • 59. 59 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Top Companies Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit #3 Top Markets of Investment Activity Market: Brand Protection & Anti-Counterfeit Analyst’s Pick Red Points (2011, Barcelona, $26.2M) Brand protection and anti piracy solution Editor's Pick. Stage: Series B Eight Roads Ventures, Northzone, Mangrove Capital Partners, Banc Sabadell 4iQ (2016, San Francisco, $14M) Big data analytics & machine learning based threat intelligence platform Minicorn. Stage: Series A Adara Ventures, Telefónica Open Future, Armat Group and 2 Other Investors MarkMonitor (1999, San Francisco, $12M) Online brand & reputation monitoring & protection for enterprise Editor's Pick. Stage: Acquired Focus Ventures, Foundation Capital, IVP and 2 Other Investors MUSO (2009, London, $3.2M) Online Anti Piracy Platform Minicorn. Stage: Series A Harwell Capital Analyst’s Pick Kopjra (2014, Bologna, $510k) digital rights management Minicorn. Stage: Seed Casalini Zambon, Club Digital, TIM Ventures and 2 Other Investors Adversarial (2014, San Francisco) Enterprise threat protection platform Minicorn. Stage: Unfunded Bouju (2012, Los Angeles) Enterprise brand protection Minicorn. Stage: Funded Plug and Play Tech Center, Skywood Capital, BAM Ventures Counterfeit.Technology (2014, Trevose) Software for copyrights protection Minicorn. Stage: Unfunded IP Shark (2014, Los Angeles) Online brand protection Minicorn. Stage: Unfunded Analyst’s Pick Protect.ly (2015, Edinburgh) Anti-piracy DMCA service to protect products from online piracy! Minicorn. Stage: Unfunded ImageProtect (2013, San Clemente) Online Image tracking Editor's Pick. Stage: Unfunded IP Shark (2014, San Francisco) Online brand protection and IP management software Editor's Pick. Stage: Unfunded IPHawk (2017, Thane) Cloud-hosted AI-enabled IP protection platform Editor's Pick. Stage: Funded TiE Mumbai's SmashUp 7.0 Proofstack (2014, Istanbul) Copyright service with qualified timestamp and blockchain authentication Editor's Pick. Stage: Unfunded
  • 60. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 60 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Leaderboard Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit #3 Top Markets of Investment Activity Better than Market Average Market: Brand Protection & Anti-Counterfeit Overall Rating Company Name Year Location Stage Funding ($M) Funding Rounds Team Rating Execution Quality Size Metrics 6M Growth Metrics App Rating App UI Web UI Social Followers Mobile Downloads Mobile Reviews News Mentions Mobile Reviews Social Followers Δ % Δ % 5.0 AppDetex 2011 Boise Series A $11.6M 6 - - - - 146 - - 4 - - 20 16% 4.7 MarkMonito r 1999 San Francisco Acquired $12M 1 - - - - 3.1k 300 - - - - 77 3% 4.6 Red Points 2011 Barcelona Series B $26.2M 3 - - - 5 1.9k - - 4 - - -418 -18% 4.3 BrandShield 2010 Ramat Hasharon Series A $2.5M 2 3 - - - 214 - - 1 - - 47 28% 4.2 Incopro 2012 London Series B $28.4M 1 - - - 3 175 - - 1 - - - - 4.1 4iQ 2016 San Francisco Series A $14M 1 5 - - - - - - 4 - - - - 4.0 MUSO 2009 London Series A $3.2M 1 - - - - 1.1k - - 5 - - -11 -1% 4.0 Binded 2016 San Francisco Seed $1.5M 1 - - - 5 2k - - 1 - - -52 -3% 3.6 Cyveillance 1997 Reston Acquired $14M 1 - - - - 6 - - 2 - - - - 3.5 ImageProtec t 2013 San Clemente Unfunded - - - - - - 13k - - 10 - - 4.6k 55% 3.5 Kopjra 2014 Bologna Seed $510k 3 - - - - 221 - - 1 - - 1 - 3.5 Global IP Action 2015 Pfaeffikon Seed - 1 - - - - 506 - - - - - 14 3% 2.9 BrandProtec t 2001 Toronto Funded - 1 - - - - - - - 3 - - - - 2.8 CitizenHawk 2006 Aliso Viejo Acquired $3M 1 - - - - - - - - - - - -
  • 61. 61 #4 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Creation Companies Created 66 | Funded 17 | Total Funding $67.4M Market: Contract Creation
  • 62. 62 Legal Tech > Market Details > Market: Contract Creation #4 Top Markets of Investment Activity Market: Contract Creation
  • 63. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201863 Legal Tech > Market Details > Market: Contract Creation #4 Top Markets of Investment Activity Better than Market Average Market: Contract Creation
  • 64. 64 #5 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Lifecycle Management Companies Created 88 | Funded 21 | Total Funding $327M Market: Contract Lifecycle Management
  • 65. 65 Legal Tech > Market Details > Market: Contract Lifecycle Management #5 Top Markets of Investment Activity Market: Contract Lifecycle Management
  • 66. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201866 Legal Tech > Market Details > Market: Contract Lifecycle Management #5 Top Markets of Investment Activity Better than Market Average Market: Contract Lifecycle Management
  • 67. 67 #6 Top Markets of Investment Activity Legal Tech > Market Details > Market: Review & Analytics Companies Created 44 | Funded 14 | Total Funding $263M Market: Review & Analytics
  • 68. 68 Legal Tech > Market Details > Market: Review & Analytics #6 Top Markets of Investment Activity Market: Review & Analytics
  • 69. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201869 Legal Tech > Market Details > Market: Review & Analytics #6 Top Markets of Investment Activity Better than Market Average Market: Review & Analytics
  • 70. 70 #7 Top Markets of Investment Activity Legal Tech > Market Details > Market: Analytics Companies Created 68 | Funded 21 | Total Funding $59.7M Market: Analytics
  • 71. 71 Legal Tech > Market Details > Market: Analytics #7 Top Markets of Investment Activity Market: Analytics
  • 72. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201872 Legal Tech > Market Details > Market: Analytics #7 Top Markets of Investment Activity Better than Market Average Market: Analytics
  • 73. 73 #8 Top Markets of Investment Activity Legal Tech > Market Details > Market: e-Signature Companies Created 84 | Funded 20 | Total Funding $571M Market: e-Signature
  • 74. 74 Legal Tech > Market Details > Market: e-Signature #8 Top Markets of Investment Activity Market: e-Signature
  • 75. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201875 Legal Tech > Market Details > Market: e-Signature #8 Top Markets of Investment Activity Better than Market Average Market: e-Signature
  • 76. 76 #9 Top Markets of Investment Activity Legal Tech > Market Details > Market: Suite Companies Created 108 | Funded 28 | Total Funding $347M Market: Suite
  • 77. 77 Legal Tech > Market Details > Market: Suite #9 Top Markets of Investment Activity Market: Suite
  • 78. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201878 Legal Tech > Market Details > Market: Suite #9 Top Markets of Investment Activity Better than Market Average Market: Suite
  • 79. 79 #10 Top Markets of Investment Activity Legal Tech > Market Details > Market: Spend Analytics Companies Created 15 | Funded 7 | Total Funding $28.4M Market: Spend Analytics
  • 80. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201880 Legal Tech > Market Details > Market: Spend Analytics #10 Top Markets of Investment Activity Better than Market Average Market: Spend Analytics
  • 81. 81 #1 Top Markets of Early Stage Investors Legal Tech > Market Details > Market: SaaS Companies Created 12 | Funded 5 | Total Funding $62.4M Market: SaaS
  • 82. 82 Legal Tech > Market Details > Market: SaaS #1 Top Markets of Early Stage Investors Market: SaaS
  • 83. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201883 Legal Tech > Market Details > Market: SaaS #1 Top Markets of Early Stage Investors Better than Market Average Market: SaaS
  • 84. 84 #1 Other Notable Markets Legal Tech > Market Details > Market: Consultation Companies Created 113 | Funded 11 | Total Funding $134M Market: Consultation
  • 85. 85 Legal Tech > Market Details > Market: Consultation #1 Other Notable Markets Market: Consultation
  • 86. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201886 Legal Tech > Market Details > Market: Consultation #1 Other Notable Markets Better than Market Average Market: Consultation
  • 87. 87 #2 Other Notable Markets Legal Tech > Market Details > Market: Listing Companies Created 109 | Funded 10 | Total Funding $1.9M Market: Listing
  • 88. 88 Legal Tech > Market Details > Market: Listing #2 Other Notable Markets Market: Listing
  • 89. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 201889 Legal Tech > Market Details > Market: Listing #2 Other Notable Markets Better than Market Average Market: Listing
  • 90. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Public Companies Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 90 Notable Acquisitions Top Acquirers Acqui-hires
  • 91. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Finance & Accounting Tech Oct 2018 Business Intelligence Oct 2018 Construction Tech Oct 2018
  • 92. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Public companies (1/2) 92 Performance indicators of public companies in Legal Tech IPO Date Company IPO Mcap Exchange Ticker May 2011 RPX Corporation (2008, San Francisco) Patent Risk Solutions $714M NASDAQ:RPXC Feb 2005 VIQ Solutions (2004, Mississauga) Transcription management solutions for multiple inddustries CVE:VQS Jun 2002 Thomson Reuters (1800, New York City) Enterprise solutions for financial, risk, legal, tax and accounting NYSE:TRI Sep 1999 Loislaw (1987, New York City) Legal and related information to lawyers and law firms $293M NASDAQ:LOIS Jun 1999 Ariba (1996, Sunnyvale) e-Procurement, invoicing, and B2B collaboration software $983M NASDAQ:ARBA Aug 1997 Omtool (1991, Andover) Provides document management workflows solutions $103M NASDAQ:OMTL Apr 1997 Epiq Systems (1988, Kansas City) eDiscovery Services and Suite EPIQ May 1996 FTI Technology (1982, Washington D.C.) FTI Technology: Software & Solutions for E-discovery FCN LegalZoom (2001, Glendale) Legal Document Services WSE:LGZ Wolters Kluwer (1836, The Hague) Suites for Legal office management and accounting firms AMS:WKL Legal Tech > Exit Outlook > Public Companies
  • 93. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Public companies (2/2) 93 Performance indicators of public companies in Legal Tech IPO Date Company IPO Mcap Exchange Ticker Stratify (1999, Mountain View) eDiscovery document review Legal Tech > Exit Outlook > Public Companies
  • 94. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Notable Acquisitions (1/4) 94 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2018 YTD Acquirer: DocuSign Deal: $220M SpringCM (2005, Chicago, $128M) Cloud Enterprise Content and Contract Mangement Acquirer: HGGC Deal: $555M RPX Corporation (2008, San Francisco) Patent Risk Solutions Acquirer: CloudNine LexisNexis (1973, Albany) Enterprise Legal Management. Acquirer: Internet Brands Avvo (2006, Seattle, $132M) Legal marketplace, lawyer's directory, Q&A forum and legal marketing 2017 Acquirer: Leonard Green and Partners Deal: $3.1B CPA Global (1969, Saint Helier, $20.6M) IP Management Acquirer: Anaqua Lecorpio (2006, Fremont, $25M) IP Management Acquirer: HgCapital Mitratech (1987, Austin, $20.5M) Enterprise Legal Management solution 2016 Acquirer: Strait Lane Capital Partners File & Serve Xpress (2012, Irving, $28.3M) Online document exchange services and payment solutions for legal professionals Acquirer: LDiscovery Deal: $410M Kroll Ontrack (1985, Minneapolis) Data recovery and discovery management Acquirer: Omers Deal: $1B Epiq Systems (1988, Kansas City) eDiscovery Services and Suite Acquirer: OpenText Deal: $163M Recommind (2000, San Francisco, $24M) SaaS based Legal hold software for ediscovery
  • 95. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Notable Acquisitions (2/4) 95 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2015 Acquirer: Roper Technologies Deal: $675M Aderant (1978, Atlanta) Legal Business management software Acquirer: Epiq Systems Deal: $134M Iris (2007, Olathe) Legal Services 2014 Acquirer: KLDiscovery Deal: $70M RenewData (2001, Austin, $41.4M) eDiscovery service provider 2013 Acquirer: Insight Venture Partners Anaqua (2004, Boston, $125M) Asset management (IAM) software solution Acquirer: Cerca Group Inventus (1991, Chicago) Document review platform
  • 96. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Notable Acquisitions (3/4) 96 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2012 Acquirer: IBM StoredIQ (2001, Austin, $41.8M) eDiscovery and Information Management Acquirer: TransPerfect Digital Reef (2003, Boxborough, $20M) Early case assessment for eDiscovery solutions Acquirer: SAP Deal: $4.3B Ariba (1996, Sunnyvale) e-Procurement, invoicing, and B2B collaboration software 2011 Acquirer: HgCapital Deal: $236M NetNames (1995, London) Online brand protection & domain name management Acquirer: Epiq Systems Deal: $100M Encore Discovery Solutions (2003, Phoenix) Encore Discovery Solutions 2010 Acquirer: IBM PSS Systems (2004, Mountain View, $47M) legal holds and retention practices
  • 97. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Notable Acquisitions (4/4) 97 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2009 Acquirer: Broadridge Financial Solutions AccessData (1987, Lindon, $20M) Digital forensics and e-discovery solutions. Before 2008 Acquirer: Micro Focus Deal: $9.7M Relativity Technologies (1997, Raleigh, $136M) eDiscovery ERDM process management Acquirer: Versata Nextance (2000, Austin, $52.4M) Enterprise contract management software Others Acquirer: Cantaro Clio (2008, Burnaby, $27M) Cloud-based legal practice management solutions for SMBs
  • 98. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Most Active Acquirers 98 Legal Tech > Exit Outlook > Most Active Acquirers
  • 99. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Acqui-hires 99 List of Acqui-hires in Legal Tech Excludes all details for Chinese companies Date Target Feb-16 LawFarm Acq by Lawr.co Legal Tech > Exit Outlook > Acqui-hires View all 1 Acqui-hired companies on Tracxn Platform
  • 100. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 100 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  • 101. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Finance & Accounting Tech Oct 2018 Business Intelligence Oct 2018 Construction Tech Oct 2018
  • 102. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018102 Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+, PE) Legal Tech > Investors > Index of Most Active VC & PE Investors Index of Top Investors (VC, PE) by Stage in Legal Tech; Last 5 years (Nov 2013 - Oct 2018) Index of Most Active VC & PE Investors SEED STAGE Right Side Capital Management (4 Investments) Seedcamp (3 Investments) Seed Capital (3 Investments) Ulu Ventures (2 Investments) Greycroft Partners (2 Investments) Founders Fund (2 Investments) Crosslink Capital (2 Investments) Foley Ventures (2 Investments) Structure Capital (2 Investments) Slow Ventures (2 Investments) Sandalphon Capital (2 Investments) AGO Partners (2 Investments) Foundation Capital Polaris Partners Compound EARLY STAGE Eight Roads Ventures (2 Investments) Menlo Ventures (2 Investments) Ignition Partners Bessemer Venture Partners Polaris Partners Greycroft Partners Sequoia Capital New Enterprise Associates Charles River Ventures Founders Fund Alven Toba Capital LiveOak Venture Partners Second Century Ventures Accel Partners LATE STAGE Bessemer Venture Partners GV Shunwei Capital Sequoia Capital Intel Capital Qualgro GP Bain Capital Ventures In-Q-Tel TCV Point Nine Capital Cross Creek Advisors B Capital Group The Stephens Group Bridge Investments E.ventures
  • 103. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Right Side Capital Management 103 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Right Side Capital Management Investments [Minicorn] NexLP (2013, Chicago, $5.1M, Series A) Insights from unstructured data using NLP and Machine Learning Legal Tech Notable Portfolio [Unicorn] Compass (2012, New York City, $1.2B, Series F) Technology driven Online brokerage firm [Soonicorn] ClassPass (2011, New York City, $307M, Series D) Membership programs for fitness classes across multiple gyms [Soonicorn] DataRobot (2012, Boston, $225M, Series D) Automated machine learning platform for data science applications [Soonicorn] Leanplum (2012, San Francisco, $145M, Series D) Mobile A/B testing, personalization & analytics platform [Soonicorn] DigitalOcean (2011, New York City, $134M, Series B) Cloud computing platform to build, deploy and scale cloud applications [Soonicorn] Threat Stack (2012, Boston, $72.2M, Series C) Intrusion detection platform for cloud, hybrid-cloud, and on-premise environments [Soonicorn] Distil Networks (2011, Arlington, $65M, Series C) Content protection network and anti bot solution [Soonicorn] Synack (2013, Menlo Park, $55.3M, Series C) Crowdsourced Vulnerability Discovery [Minicorn] Amino Apps (2011, New York City, $72.4M, Series C) Online communities enabler [Minicorn] Bluecore (2013, New York City, $63.2M, Series C) Automated personalized trigger-based email marketing [Minicorn] TradingView (2011, Chicago, $40.7M, Series B) Stock charting solution Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Geographical Spread Stage of Entry Oct 2018 Wilson Sonsini Goodrich & Rosati Leads with Commitment to Pro Bono, PR Newswire Sep 2018 PactSafe Launches Chat-to-Sign, Converting Live Conversations Into Legally Binding Contracts, Business Wire Jul 2018 PactSafe Secures $5.5M Series A to Scale High-Velocity Contracting Solution, Business Wire Jan 2018 NexLP Welcomes Damon Goduto as New SVP, PRWeb Jan 2018 Vector Legal Method Announces Release of Litigation Management Platform, Kansas City Breaking News May 2017 PactSafe Unveils the Contract Execution Platform, PRWeb Nov 2015 PactSafe Gains Momentum: Secures $1.2M in Total Funding, Launches New Developer API, and Completes San Francisco-Based Acceleprise Program, PactSafe Nov 2015 Venture Capital Access Online | Venture Capital News, VCA Online Sep 2015 Separate.Us Wants To Bring Divorce Online, TechCrunch May 2014 10 New Companies for Techstars Summer 2014 Chicago Session - Techstars, Techstars None 1 3 2013 2014 2015 2016 2017 2018 Follow On New Investments 3 - - - 4 Undisclosed Series C+ Series B Series A Seed7 - - - - US
  • 104. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Seedcamp 104 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Seedcamp People Investments [Minicorn] Legal Robot (2015, San Francisco, Seed) AI for contract review [Minicorn] Beagle (2014, Toronto, Seed) AI using NLP for Contract Automation [Editor's Pick] Juro (2016, London, $2M, Seed) Contract management solutions Legal Tech Notable Portfolio [Unicorn] UiPath (2005, Bucharest, $441M, Series C) Robotic process automation software [Unicorn] TransferWise (2010, London, $397M, Series E) International money transmitter based on currency swaps [Unicorn] Revolut (2014, London, $340M, Series C) Cloud money app for currency exchange. [Soonicorn] Wefox (2014, Zurich, $33.5M, Series B) Insurance policy management platform [Soonicorn] Property Partner (2014, London, $32.6M, Series B) Equity based crowdfunding platform for real estate investments [Minicorn] Monese (2013, London, $75.8M, Series B) Mobile-only neo bank for both individuals and businesses [Minicorn] eMoov (2010, Brentwood, $45.9M, Series B) Listing syndication for home owners [Minicorn] FishBrain (2010, Gothenburg, $28.5M, Series B) Mobile social network for fishers [Minicorn] Trussle (2015, London, $25.9M, Series B) Authorized online mortgage advisory firm Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Reshma Sohoni Co-Founder & Managing Partner Geographical Spread Stage of Entry Aug 2018 London legaltech startup Apperio scores $10m from Draper Esprit, City A.M. Jul 2018 Industrial robots startup Gideon Brothers raises $765K led by TransferWise co-founder, TechCrunch Jun 2018 The bank of the future, Monzo, selects Apperio to increase visibility over legal spend, Legal IT Professionals Apr 2018 Juro grabs $2M to take the hassle out of contracts, TechCrunch Feb 2018 Apperio finalist for the 'Analytics Project of the Year' Award at The National Technology Awards, Legal IT Professionals Nov 2017 SA legaltech startup Libryo to partner with Swiss regtech startup Apiax, Ventureburn Oct 2017 Libryo Secures $1Million Seed Round For Expansion, FundingSMEs Sep 2017 Startup Libryo secures seed-round money for global companies to understand legal operations | Bdaily, Bdaily Jul 2017 Two African Startups Make The Digital Switzerland Kickstart Accelerator, Innovation-village None 11 1 1 1 2013 2014 2015 2016 2017 2018 Follow On New Investments 1 - - - 4 Undisclosed Series C+ Series B Series A Seed2 1 1 1 - Europe South Africa US Canada
  • 105. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Ulu Ventures 105 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Ulu Ventures People Investments [Minicorn] Everlaw (2010, Berkeley, $34.6M, Series B) Ediscovery and litigation [Minicorn] Hire An Esquire (2011, New York City, $350k, Series A) Just in time attorney resources Legal Tech Notable Portfolio [Unicorn] Palantir (2004, Palo Alto, $2.8B, Series J) Intelligence products to Augment Human Driven Analysis [Unicorn] Social Finance (2011, San Francisco, $2.1B, Series G) Educational loans marketplace [Soonicorn] Proterra (2004, Greenville, $655M, Series G) Electric bus manufacturer [Soonicorn] Taulia (2009, San Francisco, $137M, Series E) Electronic invoicing and dynamic discounting solution. [Soonicorn] Kahuna (2012, Palo Alto, $64.4M, Series B) Mobile Marketing and Communication Automation [Soonicorn] Comprehend (2010, Palo Alto, $60.5M, Series C) Software-as-a-solution for clinical operations teams [Soonicorn] Remind (2011, San Francisco, $59.5M, Series D) Communication platform for teachers to send bulk messages to students and parents [Soonicorn] Euclid Analytics (2010, Palo Alto, $43.6M, Series C) Analytics for offline retail [Soonicorn] Clever (2012, San Francisco, $43M, Series B) Platform for single sign-in and centralized app assessment [Minicorn] Ellevest (2014, New York City, $55.6M, Series B) Women focused automated investment platform. Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Miriam Rivera Co-Founder & Managing Director Clint Korver Co-Founder & Managing Director Geographical Spread Stage of Entry Sep 2018 Securities Cases Involving Cryptocurreny Rising – Lex Machina Report, BlockTribune Aug 2018 Lex Machina Launches Legal Analytics Module for Insurance Litigators, IIReporter Jun 2018 AI-fueled legal tech company Everlaw plans to double headcount in the next year , The Business Journals Jun 2018 Everlaw Secures $25 Million Series B Funding to Help Litigators Win, GlobeNewswire Apr 2018 Lex Machina's Inaugural Product Liability Litigation Report Focuses on Burgeoning Medical Device and Pharmaceutical Product Case Filings, PR Newswire Feb 2018 Lex Machina's Fifth Annual Patent Litigation Year in Review Report Quantifies the Impact of the Landmark TC Heartland v. Kraft Supreme Court Case, PR Newswire Feb 2018 LexisNexis and Lex Machina Named Legal A.I. Leaders In National Law Journal’s Inaugural List, PRWeb Dec 2017 Everlaw Adds Media Transcription for Faster, More Insightful Ediscovery, GlobeNewswire Jan 2016 Daily funding roundup - January 14, 2016 | VatorNews, Vator Lex Machina (2009, Menlo Park, $10M) Acq by LexisNexis - Nov 2015 Ravellaw (2012, Palo Alto, $9.2M) Acq by LexisNexis - Jun 2017 BayTSP (1999, Santa Clara, $1.3M) Acq by Irdeto - Oct 2011 1 2 2013 2014 2015 2016 2017 2018 Follow On New Investments 2 - - - 5 Undisclosed Series C+ Series B Series A Seed7 - - - - US
  • 106. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Greycroft Partners 106 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Greycroft Partners
  • 107. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Founders Fund 107 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Founders Fund
  • 108. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Crosslink Capital 108 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Crosslink Capital
  • 109. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Structure Capital 109 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Structure Capital
  • 110. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Foundation Capital 110 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Foundation Capital
  • 111. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Polaris Partners 111 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Polaris Partners
  • 112. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Compound 112 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Compound
  • 113. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 113 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  • 114. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Eight Roads Ventures 114 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Eight Roads Ventures
  • 115. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Menlo Ventures 115 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Menlo Ventures
  • 116. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Ignition Partners 116 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Ignition Partners
  • 117. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Bessemer Venture Partners 117 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Bessemer Venture Partners
  • 118. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Polaris Partners 118 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Polaris Partners
  • 119. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Greycroft Partners 119 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Greycroft Partners
  • 120. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Sequoia Capital 120 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Sequoia Capital
  • 121. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 New Enterprise Associates 121 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > New Enterprise Associates
  • 122. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Charles River Ventures 122 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Charles River Ventures
  • 123. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Founders Fund 123 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Founders Fund
  • 124. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Alven 124 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Alven
  • 125. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Toba Capital 125 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Toba Capital
  • 126. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 LiveOak Venture Partners 126 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > LiveOak Venture Partners
  • 127. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Second Century Ventures 127 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Second Century Ventures
  • 128. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Accel Partners 128 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Accel Partners
  • 129. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 129 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  • 130. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Bessemer Venture Partners 130 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Bessemer Venture Partners
  • 131. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 GV 131 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > GV
  • 132. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Shunwei Capital 132 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Shunwei Capital
  • 133. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Sequoia Capital 133 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Sequoia Capital
  • 134. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Intel Capital 134 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Intel Capital
  • 135. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Qualgro GP 135 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Qualgro GP
  • 136. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Bain Capital Ventures 136 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Bain Capital Ventures
  • 137. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 In-Q-Tel 137 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > In-Q-Tel
  • 138. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 TCV 138 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > TCV
  • 139. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Point Nine Capital 139 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Point Nine Capital
  • 140. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Cross Creek Advisors 140 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Cross Creek Advisors
  • 141. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 B Capital Group 141 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > B Capital Group
  • 142. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 The Stephens Group 142 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > The Stephens Group
  • 143. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 E.ventures 143 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > E.ventures
  • 144. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - LegalTech - Nov 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 144 Details on VC & PE Investors Details on Top Ecosystem Players Incubators Other Notable Investors Debt Investors