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Tracxn - Legal Tech Startup Landscape

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Tracxn - Legal Tech Startup Landscape

  1. 1. MAY 2018 LEGAL TECH
  2. 2. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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. 3. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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. 4. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Note: Mega Companies includes IPO’d companies, Mega Acquisitions and Unicorn. Data is taken from Tracxn Platform as on May 5, 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 $3B Funding 16 Mega Companies 4161874 FundedCovered on Tracxn 5 Unicorns 11 Soonicorns 83 Minicorns 5 IPO’d Cos 131 Late Stage Cos 38 22 Acquisitions 155 DeadPooled 83 Acquihired Series A+ Cos Wolters Kluwer (1836, The Hague, Public) LexisNexis (1973, Albany, Acq.) Thomson Reuters (1800, New York City, Public) Top Companies
  5. 5. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Investment Trend Summary Summary of Funding Activity in Legal Tech 5 $50M - Series D Icertis (2009, Seattle, $96M) $25M - Series B Logikcull (2004, San Francisco, $43M) $38M - Series C Mark43 (2012, New York City, $78M) $20.5M - PE Mitratech (1987, Austin, $21M) $27M - Series B Mark43 (2012, New York City, $78M) $20M - Series C Disco (2012, Houston, $51M) $25M - Series E SpringCM (2005, Chicago, $113M) $20M - Series B Forensic Logic (2003, Walnut Creek, $22M) $25M - Series C Icertis (2009, Seattle, $96M) $18.9M - Series B Notarize (2015, Virginia, $29M) Top Geos of InvestmentEntrepreneurial Activity Global Funding Trend *YTD *YTD Legal Tech > Feed Summary > Investment Trend Summary Seed Seedcamp (#4), Crosslink Capital (#3), Right Side Capital Management (#3) Series A/B Foundry Group (#2), Khosla Ventures (#2), 8VC (#1) Series C+ Bessemer Venture Partners (#2), HgCapital (#2), 645 Ventures (#1) Incubators 500 Startups (#16) Y Combinator(#12) Techstars (#6) Other Notable Investors Nextlaw Labs (#7), Kima Ventures (#4), The Carlyle Group (#3) Debt Investors The North West Fund (#2), Wellington Financial(#2), Enterprise Ventures (#1) Most Active InvestorsRecent Investments 183 240 367 226 65 1 2013 2014 2015 2016 2017 2018* Y-o-Y # of Companies Founded 75 65 83 84 74 24 $163M $363M $789M $224M $244M $238M 2013 2014 2015 2016 2017 2018* $ Funding # Rounds $2.7B $105M $25.2M $24.1M $20.6M US Europe Israel Canada Channel Islands $ Funding
  6. 6. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Summary of exit outlook in Legal Tech Exit Outlook Summary 66 Most Active AcquirersTop Investors in Exits KPCB 3 DocuSign (2003, San Francisco, $522M) LegalZoom (2001, Glendale, $266M) Intel Capital 2 DocuSign (2003, San Francisco, $522M) Relativity Technologies (1997, Raleigh, $136M) 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) In-Q-Tel 1 Stratify (1999, Mountain View) May 2018 RPX Corporation Acq by HGGC for $555M Oct 2016 Kroll Ontrack Acq by LDiscovery for $410M Jul 2016 Epiq Systems Acq by Omers for $1.0B Jun 2016 Recommind Acq by OpenText for $163M Apr 2015 Iris Acq by Epiq Systems for $134M Jan 2012 CPA Global Acq by Cinven for $1.5B Oct 2011 NetNames Acq by HgCapital for $237M Legal Tech > Feed Summary > Exit Outlook Summary IBM 2 PSS Systems (Oct 2010), StoredIQ (Dec 2012) Epiq Systems 2 Iris (Apr 2015, $134M), Encore Discovery Solutions (Apr 2011, $100M) Cinven 1 CPA Global (Jan 2012, $1.4B) OpenText 1 Recommind (Jun 2016, $163M) Insight Venture Partners 1 Anaqua (Jul 2013) Recent IPOs Top Acquisitions Wolters Kluwer Suites for Legal office management and ac… IPO MCap: - Current MCap: - Stratify eDiscovery document review IPO MCap: - Current MCap: - Thomson Reuters Jun 2002 Enterprise solutions for financial, risk,… IPO MCap: - Current MCap: - FTI Technology May 1996 FTI Technology: Software & Solutions for… IPO MCap: - Current MCap: $1.8B LegalZoom Legal Document Services IPO MCap: - Current MCap: -
  7. 7. For any Feedback and Query reach out to MyAnalyst@tracxn.com.Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies FACTSHEET Feed Report - Legal Tech - May 20187 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved. FACTSHEET Overview Companies 1874 Funded 416 Series A+ 131 Funding $3B Last 2 yrs $465M Most Active Investors Seed Seedcamp (4) Series A/B Foundry Group (2) Series C+ Bessemer Venture Partners (2) Others Nextlaw Labs (7) Incubators 500 startups (14) Top Cities Bay Area 135 Cos $990M Seattle 15 Cos $294M Feed in Numbers Unicorns 5 Soonicorns 11 Minicorns 83 Editor Picks 149 Acquihired 83 Deadpooled 155 Top Companies Thomson Reuters (1800, New York City, Public) Wolters Kluwer (1836, The Hague, Public) LexisNexis (1973, Albany, Acq) Exits IPOs 5 RPX Corporation, Thomson Reuters Acquisitions 22 CPA Global, Kroll Ontrack Top Acquirers IBM, Epiq Systems Marketmap: Legal Tech PRACTICE & CONTRACT LITIGATION SUITE LEGAL DOCUMENTS/FORMS SUITE AFTER-LIFE PLANNING PRACTICE MANAGEMENT CONTRACT MANAGEMENT CASE & MATTER MANAGEMENT BILLING & SPEND ANALYTICS CREATION ANALYSIS INTELLECTUAL PROPERTY SUITE BRAND PROTECTION & ANTI-COUNTERFEIT PATENT ANALYTICS RESEARCH eDISCOVERY SEARCH ENGINE ANALYTICS LEGAL RESEARCH ASSISTANT* MARKETPLACE Legal Tech > Feed Summary > BlueBox
  8. 8. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 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 70 $571k 3 Lawyer's Marketplace > Listing & Booking > Listing 82 $0 1 Top Markets of Investment Activity # Cos on Platform Last 2 Years $ Invested # Round Legal Contract Management > Contract Analytics & Due Dilligence 47 $47.3M 11 Legal Contract Management > Contract Lifecycle Management 71 $123M 8 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit 49 $43M 9 Legal Contract Management > Contract Creation > e-Signature 53 $29.7M 11 eDiscovery > SaaS > Review & Analytics 43 $53.3M 8 Legal Contract Management > Contract Creation 63 $21.3M 7 Legal Research > Analytics 67 $13.8M 8 eDiscovery > SaaS 12 $42.7M 4 Sub Sectors # Cos Tracked # Funded Total Funding Legal Contract Management Companies offering contract lifecycle management platform which spans across contract... 240 70 $951M eDiscovery Companies offering a platform to manage emails, documents, and media files for litigation... 130 52 $658M Legal Documents/Forms Companies offering online DIY legal form services for individuals, SMBs, and Enterprises... 179 43 $377M Intellectual Property (IP) Management Companies offering solutions for IP management including filing, tracking, analytics,... 174 59 $349M Lawyer's Marketplace Companies offering legal services marketplace for connecting consumers, businesses, attorneys... 357 58 $203M Law Enforcement Companies offering law enforcement software for law enforcement agencies 23 6 $130M Legal Practice Management Companies offering legal practice management platform for end to end client intake to... 431 52 $101M Legal Tech > Feed Summary > Summary of Key Markets
  9. 9. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 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 LegalZoom (2001, Glendale, $266M)* Thomson Reuters (1800, New York City) Wolters Kluwer (1836, The Hague) FTI Technology (1982, Washington D.C.) Stratify (1999, Mountain View) Acquired CPA Global (1969, Saint Helier, $20.6M) Epiq Systems (1988, Kansas City) RPX Corporation (2008, San Francisco) Kroll Ontrack (1985, Minneapolis) NetNames (1995, London) Recommind (2000, San Francisco, $24M) Iris (2007, Olathe) Encore Discovery Solutions (2003, Phoenix) Unicorns DocuSign (2003, San Francisco, $522M) Relativity Technologies (1997, Raleigh, $136M) LexisNexis (1973, Albany)
  10. 10. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 List of Notable Companies by Market in Legal Tech Notable Companies by Market (1/4) 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 HgCapital, Vista Equity Partners, TA Associates Management LexisNexis (1973, Albany) Enterprise Legal Management. Unicorn. Stage: Acquired Wolters Kluwer (1836, The Hague) Suites for Legal office management and accounting firms. Unicorn. Stage: Public MMF Capital Thomson Reuters (1800, New York City) Enterprise solutions for financial, risk, legal, tax and accounting Editor's Pick. Stage: Public One Equity Partners 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 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
  11. 11. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 List of Notable Companies by Market in Legal Tech Notable Companies by Market (2/4) 12 Legal Tech > Feed Summary > Notable Companies by Market eDiscovery 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 Legal Contract Management Contract Lifecycle Management SpringCM (2005, Chicago, $113M) Cloud Enterprise Content and Contract Mangement Soonicorn. Stage: Series E 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
  12. 12. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 List of Notable Companies by Market in Legal Tech Notable Companies by Market (3/4) 13 Legal Tech > Feed Summary > Notable Companies by Market Legal Contract Management Contract Creation DocuSign (2003, San Francisco, $522M) Digital Transaction Management Tool Unicorn. Stage: Series F Hercules Capital, Intel Capital, Dell Technologies and 53 Other Investors Intellectual Property (IP) Management Suite Anaqua (2004, Boston, $125M) Asset management (IAM) software solution Soonicorn. Stage: Acquired Bessemer Venture Partners, The Cambria Group, Lead Edge Capital CPA Global (1969, Saint Helier, $20.6M) IP Management Unicorn. Stage: Acquired Epiris, ICG, Electra Private Equity Patent Analytics & Management PatSnap (2007, Singapore, $13.6M) Provides a search platform for patents Soonicorn. Stage: Series C 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, KPCB
  13. 13. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 List of Notable Companies by Market in Legal Tech Notable Companies by Market (4/4) 14 Legal Tech > Feed Summary > Notable Companies by Market Intellectual Property (IP) Management Brand Protection & Anti-Counterfeit NetNames (1995, London) Online brand protection & domain name management Stage: Acquired HgCapital Legal Documents/Forms Suite LegalZoom (2001, Glendale, $266M) Legal Document Services Soonicorn. Stage: Public Permira investment, KPCB, IVP and 5 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 Technology Crossover Ventures, Coatue Management, Vulcan Capital and 3 Other Investors
  14. 14. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Recent News in Legal Tech Sector Recent News 15 Legal Tech > Feed Summary > Recent News May 2018 Strategic agreement with Japanese fintech firm NRI builds out international post-trade processing capabilities on Thomson Reuters BETA wealth management platform, PressReleasePoint May 2018 Peppermint Technology appoints Tony Cox as Chief Sales Officer to drive their next phase of growth, Legal IT Professionals May 2018 Prosperoware Announces Next Generation CAM Platform: Managing Content Systems in the Cloud, Legal IT Professionals May 2018 Tikit announces expansion of marketing application portfolio with Introhive’s integration with InterAction and Signature Scraper, Legal IT Professionals May 2018 Ontario Systems Acquires Justice Systems to Expand Enterprise Workflow and Payments Solutions to Government Sector, Business Wire May 2018 HGGC agrees $555m take-private of patent risk, management business RPX Corporation, AltAssets May 2018 Thomson Reuters Provides Information Related to Its Future Financial Reporting and Outlook, PressReleasePoint May 2018 Modus Announces Industry Partnership with The Gnoêsis Group, PRWeb May 2018 Startup Image Protect Starts Blockchain Transformation of the Digital Content Industry, Coinspeaker May 2018 Legal Tech Startup Wonder.Legal Launches in India, BW Businessworld May 2018 RPX Announces First Quarter 2018 Financial Results, PR Newswire Key Recent News Key Recent News May 2018 BRIEF-RPX Corp To Be Acquired By HGGC For $10.50 Per Share, Reuters May 2018 Bermans sign 10-year contract with Peppermint, Legal IT Professionals May 2018 Precise, Inc. Signs on as a Value-Added Reseller of Powerful Voir Dire App, Voltaire, PRWeb May 2018 Reynolds Parry Jones signs up to SOS Connect, Legal IT Professionals May 2018 In-House Legal Spend Is On the Rise, While Outside Legal Spend Is Decreasing, Legal IT Professionals May 2018 The Tikit P4W User Group continues to grow, Legal IT Professionals Apr 2018 DocuSign raises $629 million after pricing IPO, TechCrunch Apr 2018 Legal Tech Firm Cicayda Announces That Bill Carlson Joins as Vice President of Sales for West Coast: Opens San Francisco Office, GlobeNewswire Apr 2018 Luminance extends AI platform to regulatory compliance work, Global Legal Post Apr 2018 Invisible.io and Litify Announce Partnership around SmartCloud Connect to Bring Litify’s Products Suite into Outlook and Gmail, Business Wire Apr 2018 Thomson Reuters ONESOURCE Achieves SAP-Certified Integration with Cloud Solutions from SAP, PR Newswire Apr 2018 Hotdocs Wins Prestigious Queen's Award For Enterprise For International Trade, Financial IT
  15. 15. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Contents Feed Summary Investment Trends Market Details Exit Outlook Investors News Appendix 16 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
  16. 16. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Livestock Apr 2018 Business Intelligence Apr 2018 Enterprise Networking Apr 2018
  17. 17. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 $101M $193M $163M $363M $789M $224M $244M $238M 0 10 20 30 40 50 60 70 80 90 $0k $100M $200M $300M $400M $500M $600M $700M $800M $900M 2011 2012 2013 2014 2015 2016 2017 2018* $ Funding # Rounds 3 Year CAGR 6 Year CAGR Investments ($M) and number of rounds in Legal Tech; 2011-2018 Global Funding Trends (1/2) 18 Note: Funding excludes Grant, Debt and Post IPO rounds. Excludes all details for Chinese companies Legal Tech > Investment Trends > Global Funding Trends #Rounds $Funding 16% $ Funding 12% $ Funding 21% # of Rounds 4% # of Rounds
  18. 18. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 15 19 49 37 49 51 46 6 8 11 15 23 21 23 23 14 1 5 11 5 13 10 5 4 2011 2012 2013 2014 2015 2016 2017 2018 YTD Seed Early Stage Late Stage 24 24 Total # of Rounds $5M $16M $19M $18M $31M $30M $38M $18M $78M $94M $39M $70M $87M $129M $135M $112M $19M $83M $105M $276M $671M $65M $71M $108M 2011 2012 2013 2014 2015 2016 2017 2018 YTD Seed Early Stage Late Stage $66M $114M $45M $258M $619M $27M $91M $133M 0 1 2 3 4 5 6 7 0 100000000 200000000 300000000 400000000 500000000 600000000 700000000 2011 2012 2013 2014 2015 2016 2017 2018 YTD $ Funding # of Rounds 19 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 ClubMega Rounds Global Funding Trends (2/2) Investments ($M) and number of rounds in Legal Tech; 2011-2018 Legal Tech > Investment Trends > Global Funding Trends 36 33 33 44 39 32 217 $4.1M $1.4M $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 2012 2013 2014 2015 2016 2017 2018 YTD Total Entrants in Funding Club Avg. Ticket Size 1 3 2 3 6 1 4 4 $4.1M $0.6M $1.5M $1.1M $1.1M $1M - $1.4M $101M $238M Total $ Invested
  19. 19. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201820 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 990M 120 Seattle 294M 24 Glendale 266M 2 Austin 179M 25 New York City 141M 48 Chicago 139M 22 Raleigh 136M 4 Houston 86.9M 12 Washington D.C. 50.2M 10 Boston 38.5M 8 Total Funding 200 100 8 9 2 14 15 11 # Rounds $2.7B $105M $25.2M $24.1M $20.6M $18.3M $8M $3M US Europe Israel Canada Channel Islands SEA India Australia Note: Excludes funding information of China companies
  20. 20. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201821 Trend of Average Deal Size ($M) $0.4 $0.9 $0.5 $0.6 $0.9 $0.9 $1.0 2011 2012 2013 2014 2015 2016 2017 $2.2 $4.6 $3.2 $2.9 $5.6 $5.0 $4.7 $23.2 $20.8 $0.0 $5.9 $10.0 $18.0 $11.9 $18.5 $20.7 $10.5 $68.9 $61.0 $10.8 $23.5 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 $177* $5M $21K $15M $1.5M $66M $395K $233M $17.8M $12M $3.3M $538K Series C+ Series B Series A Seed Stage
  21. 21. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Note: 192 companies with undisclosed funding amount are not included 22 <$1M $1-10M $10-50M $50-100M $100M+ Funding Range 84 90 48 5 6 No. of Companies Legal Tech > Investment Trends > Distribution of companies by Funding Range No. of companies by funding range in Legal Tech; as of May 2018 Distribution of companies by Funding Range $31M $321M $989M $330M $1.3B $ Investment
  22. 22. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Stage No. of Companies Funding Funnel 100% 22% 7% 3% 2% 23 Note: Numbers in the brackets show the count of companies Time to raise next round 38 63 131 416 1874 Series C+ Series B Series A Funded Founded Next Round 100M+ Valuation Exits Acqui- Hired Dead Pooled Others 22% 1% (19) 1% (13) 5% (97) 8% (155) 64% (1206) 31% 4% (18) 3% (12) 15% (61) 6% (23) 48% (201) 48% 8% (10) 3% (4) 27% (36) 1% (1) 24% (31) 60% 16% (10) 6% (4) 40% (25) 2% (1) -2% (-1) - 24% (9) 8% (3) 42% (16) - -5% (-2) Legal Tech > Investment Trends > Funding Funnel Number of companies progressing to subsequent funding stages in Legal Tech Funding Funnel 19 Months 24 Months 42 Months Investment backedBootstrapped 11 5 21 5 1 Soonicorns Unicorns Acquisitions IPOs
  23. 23. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201824 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; May 2016-May 2018 Notable Investments in last 24 months (1/5) 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 C Mar 2018 Mark43 (2012, New York City, $77.8M) Law enforcement platform General Catalyst Partners, Jim Breyer, Spark Capital, Sound Ventures, Bezos Expeditions, Goldman Sachs, David Petraeus, Ashton Kutcher, Sheel Tyle, Innovation Endeavors, Govtech Fund, SV Angel $25M - Series E Feb 2017 SpringCM (2005, Chicago, $113M) Cloud Enterprise Content and Contract Mangement Crestline Investors LATE STAGE $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 $20.5M - PE Apr 2017 Mitratech (1987, Austin, $20.5M) Enterprise Legal Management solution HgCapital $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 $18.6M - Series C Aug 2016 Disco (2012, Houston, $50.6M) SaaS based eDiscovery for litigation boutiques and AmLaw 200 The Stephens Group, Bessemer Venture Partners, LiveOak Venture Partners LATE STAGE $17.5M - Series D Jun 2016 SpringCM (2005, Chicago, $113M) Cloud Enterprise Content and Contract Mangement Foundation Capital, North Bridge, Bluestem Capital, Square 1 Bank, Panorama Point Partners, Wellington Financial $8.3M - Series C Oct 2016 Onit (2009, Houston, $21.4M) Business productivity and project management Apps Level Equity, Austin Ventures, Texas Halo Fund $6M - Series F Jun 2016 DocuSign (2003, San Francisco, $522M) Digital Transaction Management Tool Hercules Capital Series C May 2017 Zapproved (2008, Portland, $17.2M) SaaS based Ediscovery Vista Equity Partners
  24. 24. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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; May 2016-May 2018 Notable Investments in last 24 months (2/5) LATE STAGE Series C Oct 2016 Brainspace (2005, Dallas, $16M) Discovery and collective intelligence tools for Enterprise In-Q-Tel Series C Nov 2016 PatSnap (2007, Singapore, $13.6M) Provides a search platform for patents Sequoia Capital, Shunwei Capital, Qualgro GP EARLY STAGE $25M - Series B Jan 2018 Logikcull (2004, San Francisco, $42.5M) eDiscovery New Enterprise Associates, OpenView, Storm Ventures $20M - Series B Oct 2017 Forensic Logic (2003, Walnut Creek, $21.6M) Search Engine for Law Enforcement and Homeland Security Mainsail Partners $18.9M - Series B Apr 2018 Notarize (2015, Virginia, $29.4M) Online Notary service $14M - Series A Oct 2016 4iQ (2016, San Francisco, $14M) Big data analytics & machine learning based threat intelligence platform Trident Capital Cybersecurity, Adara Ventures, Telefónica Open Future, Armat Group EARLY STAGE $12M - Series B Apr 2018 LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer Aleph Venture Capital, Lool Ventures $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 Aug 2016 Airhelp (2013, New York City, $17.1M) Claim management legal services for airlines in Europe Khosla Ventures, Galvanize, U-Start $12M - Series B Mar 2018 UpCounsel (2012, San Francisco, $26M) Online workplace for legal services $10M - Series A Aug 2016 Logikcull (2004, San Francisco, $42.5M) eDiscovery OpenView, Storm Ventures
  25. 25. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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; May 2016-May 2018 Notable Investments in last 24 months (3/5) EARLY STAGE $10M - Series A Jan 2018 Concord (2015, San Francisco, $23.5M) 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 $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 $8M - Series A Jun 2016 Notarize (2015, Virginia, $29.4M) Online Notary service Polaris Partners, Founders Fund, Ludlow Ventures EARLY STAGE $7M - Series A Mar 2017 LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer LionBird, Lool Ventures, Recruit Holdings $6.4M - Series A Jun 2016 Everplans (2012, New York City, $10.8M) After-Life planning Transamerica Ventures, RGAx $6.3M - Series A Dec 2016 Concord (2015, San Francisco, $23.5M) e-signature and contract management solution $5M - Series A Jun 2016 Litify (2016, New York City, $7.5M) Law firm practice managaement Fortress Investment $5M - Series A May 2017 LegalRaasta (2015, Delhi, $6M) Online legal services provider Impanix Capital EARLY STAGE $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 May 2017 Concord (2015, San Francisco, $23.5M) e-signature and contract management solution Alven, Streamlined Ventures, Cota Capital, Tien Tzuo $3.7M - Series A Oct 2016 CloudLex (2015, New York City, $7.7M) Project and case management for Trial Lawyers and Law firms Aligned Partners Venture Services $3.5M - Series B Oct 2017 TrademarkNow (2012, Helsinki, $7.7M) Trademark search and Analytics Karma Ventures, Balderton Capital
  26. 26. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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; May 2016-May 2018 Notable Investments in last 24 months (4/5) EARLY STAGE $3.2M - Series A Jun 2017 MUSO (2009, London, $3.2M) Online Anti Piracy Platform Harwell Capital $3M - Series A Sep 2016 Luminance AI (2015, Cambridge, $13M) AI for legal due diligence Invoke Capital $3M - Series A Oct 2017 NexLP (2013, Chicago, $5.1M) Insights from unstructured data using NLP and Machine Learning , Dundee Venture Capital $2.5M - Series A Apr 2018 Litify (2016, New York City, $7.5M) Law firm practice managaement Esquire Bank $1.9M - Series A Nov 2017 LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs EARLY STAGE $84.9k - Series A Jul 2017 Seal Software (2010, San Francisco, $4.1M) Contract analysis: Clause extraction and review Tern Series A Oct 2017 Notarize (2015, Virginia, $29.4M) 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 SEED STAGE $2.8M - Seed Sep 2016 LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs Birchmere Labs $2.4M - Seed Dec 2017 Heretik (2017, Chicago, $2.4M) Legal contracts reviewing platform Corazon Capital, Chicago Ventures $2.3M - Seed Sep 2016 Doxly (2016, Indianapolis, $3.3M) Legal transaction management platform Nextlaw Labs, High Alpha, Hyde Park Venture Partners $2.2M - Seed Oct 2016 Doctrine.fr (2016, Paris, $2.2M) Big Data for legal research analytics Kima Ventures, The Family, Otium $543k - Seed Jul 2017 Doxly (2016, Indianapolis, $3.3M) Legal transaction management platform
  27. 27. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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; May 2016-May 2018 Notable Investments in last 24 months (5/5) SEED STAGE $500k - Seed Jul 2016 Doxly (2016, Indianapolis, $3.3M) Legal transaction management platform $500k - Seed Jul 2016 Lawcadia (2015, Brisbane, $500k) B2B marketplace for legal procurement services between SMB's and big law firms ACAC Innovation $400k - Seed Jun 2016 Seegnature (2015, Tel Aviv, $400k) Cloud based digital signature + ID verification $345k - Seed Jun 2017 Kopjra (2014, Bologna, $164k) digital rights management Casalini Zambon, $310k - Seed Nov 2016 LawRato (2012, Delhi, $410k) Online open marketplace for lawyers Indian Angel Network, BVC SEED STAGE $300k - Seed Jan 2017 LegalSifter (2013, Pittsburgh, $4.9M) ML to read legal docs Seed Aug 2016 LawAdvisor (2014, Melbourne, $590k) Standard Legal Services Seed Dec 2016 Beagle (2014, Toronto) AI using NLP for Contract Automation Nextlaw Labs Angel Sep 2016 ThreadKM (2014, Atlanta) Project management tool for lawyers
  28. 28. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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; May 2016-May 2018 Notable Investments in last 24 months in China LATE STAGE 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
  29. 29. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Most Active Investors (VC, PE) by Stage in Legal Tech; Last 5 years (May 2013-May 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 Seedcamp(4 Investments) Juro, Apperio, Libryo 1 Crosslink Capital (3 Investments) UpCounsel, Casetext, Fairclaim 2 Right Side Capital Management(3 Investments) Vector Legal Method, Paladin, LitiMetrics 3 Seed Capital(3 Investments) Swiftcourt, LegalDesk, Archii 4 SV Angel (3 Investments) Mark43, UpCounsel, Casetext 5 AGO Partners (2 Investments) Fairclaim, ArbiClaims 6 Collaborative Fund (2 Investments) UpCounsel, HelloSign 7 Draper Associates (2 Investments) LawTrades, Stampery 8 Foley Ventures(2 Investments) Page Vault, Esquify 9 Founders Fund (2 Investments) ZenBusiness, LawPal 10 EARLY STAGE Foundry Group (2 Investments) HelloSign, Modria 1 Khosla Ventures(2 Investments) Judicata, Airhelp 2 8VC Casetext 3 Andreessen Horowitz Everlaw 4 Accel Partners Ironclad 5 Adara Ventures 4iQ 6 Aleph Venture Capital LawGeex 7 Aligned Partners Venture Services CloudLex 8 Alven Concord 9 AME Cloud Ventures FiscalNote 10 LATE STAGE Bessemer Venture Partners (2 Investments) Anaqua, Clio 1 HgCapital(2 Investments) Mitratech, STP Informationstechnologie 2 645 Ventures FiscalNote 3 Acton Capital Partners Clio 4 ATP Private Equity Partners Consilio 5 Bain Capital Ventures DocuSign 6 BBVA Ventures DocuSign 7 B Capital Group Icertis 8 Bluestem Capital SpringCM 9 Bridge Investments QDiscovery 10
  30. 30. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201831 Legal Tech > Investment Trends > Most Active Ecosystem Investors Top Ecosystem Investors in Legal Tech; Last 5 years (May 2013-May 2018) Most Active Ecosystem Investors INCUBATOR 500 Startups(16 Investments) Wevorce, LawTrades, Ironclad 1 Y Combinator(12 Investments) HelloSign, Casetext, SimpleLegal 2 Techstars(6 Investments) Wevorce, NexLP, Vector Legal Method 3 NDRC(4 Investments) Brightflag, Oathello, Vizlegal 4 Plug and Play Tech Center(4 Investments) FiscalNote, Tomorrow, Bouju 5 Boost VC(3 Investments) Stampery, Visabot, Bitproof 6 Startupbootcamp(3 Investments) Signaturit, Seal Agreements, ProofofYou 7 UpWest Labs(2 Investments) Seegnature, ModusP 8 Acceleprise PactSafe 9 AngelPad UpCounsel 10 OTHER NOTABLE INVESTORS Nextlaw Labs(7 Investments) ROSS Intelligence, Doxly, Apperio 1 Kima Ventures(4 Investments) Modria, Doctrine.fr, LawPal 2 The Carlyle Group(3 Investments) DTI, KLDiscovery, LDiscovery 3 Iconiq Capital(2 Investments) DocuSign, Relativity Technologies 4 Mainsail Partners(2 Investments) Forensic Logic, Ncontracts 5 Recruit Holdings(2 Investments) DocuSign, LawGeex 6 Vista Equity Partners(2 Investments) Zapproved, Mitratech 7 37 Angels Hire An Esquire 8 Acacia Iamip 9 AfterDox BrandShield 10 DEBT INVESTORS The North West Fund(2 Investments) Datalaw, Rekoop 1 Wellington Financial(2 Investments) SpringCM, Exari 2 Enterprise Ventures Datalaw 3 Hercules Capital DocuSign 4 Silicon Valley Bank Recommind 5
  31. 31. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201832 Legal Tech > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (1/2)
  32. 32. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201833 Legal Tech > Investment Trends > Investors in Unicorn club Investors in Unicorn Club (2/2)
  33. 33. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201834 Legal Tech > Investment Trends > Unicorn Investors in the Sector Unicorn Investors in the Sector
  34. 34. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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
  35. 35. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn GRC Software Apr 2018 HRTech Apr 2018 GRC Software Apr 2018
  36. 36. For any Feedback and Query reach out to MyAnalyst@tracxn.com.Funding data excludes Debt, Grants & Post-IPO rounds. Excludes all details for Chinese companies Feed Report - Legal Tech - May 201837 Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved. Marketmap: Legal Tech Legal Tech > Market Details > BlueBox
  37. 37. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 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, review, tracking and management Nextance (2000, Austin, Acquired) DocuSign (2003, San Francisco, $522M) 240 70 $951M eDiscovery Companies offering a platform to manage emails, documents, and media files for litigation process throughout Electronic Discovery Reference Model (EDRM)... Relativity Technologies (1997, Raleigh, Acquired) Disco (2012, Houston, $50.6M) 130 52 $658M Legal Documents/Forms Companies offering online DIY legal form services for individuals, SMBs, and Enterprises LegalZoom (2001, Glendale, Public) Rocket Lawyer (2008, San Francisco, $53.4M) 179 43 $377M Intellectual Property (IP) Management Companies offering solutions for IP management including filing, tracking, analytics, anti- counterfeit management etc. Anaqua (2004, Boston, Acquired) Red Points (2011, Barcelona, $14.2M) 174 59 $349M Lawyer's Marketplace Companies offering legal services marketplace for connecting consumers, businesses, attorneys and lawyers Avvo (2006, Seattle, Acquired) Notarize (2015, Virginia, $29.4M) 357 58 $203M Law Enforcement Companies offering law enforcement software for law enforcement agencies Mark43 (2012, New York City, $77.8M) FiscalNote (2013, Washington D.C., $28.2M) 23 6 $130M Legal Practice Management Companies offering legal practice management platform for end to end client intake to invoicing with features to manage cases, clients, documents, bills,... Clio (2008, Burnaby, Acquired) SimpleLegal (2013, San Francisco, $11.7M) 431 52 $101M Legal Research Companies offering legal database resources & analytics to help lawyers to make data-driven decisions about case strategy and tactics for analyzing a... Lex Machina (2009, Menlo Park, Acquired) Casetext (2013, Palo Alto, $20.8M) 160 35 $84.1M Legal Tech > Market Details > Key Sub Sectors
  38. 38. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Key Sub Sectors (2/2) 39 Key Sub Sectors in Legal Tech Market Top Companies # Cos Tracked # Funded Total Funding Enterprise Legal Management(Suite) Companies offering legal suite solutions for end-to-end enterprise legal practice management, contract management, eDiscovery, contract, Intellectual... Mitratech (1987, Austin, Acquired) Onit (2009, Houston, $21.4M) 22 6 $56.9M Dispute Resolution/Claims Management Companies offering out-of-court dispute resolution platform for small claim cases Modria (2011, San Jose, Acquired) Airhelp (2013, New York City, $17.1M) 78 22 $48.6M Legal Tech > Market Details > Key Sub Sectors
  39. 39. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (1/7) 40 Legal Tech > Market Details > Detailed Sector Taxonomy
  40. 40. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (2/7) 41 Legal Tech > Market Details > Detailed Sector Taxonomy
  41. 41. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (3/7) 42 Legal Tech > Market Details > Detailed Sector Taxonomy
  42. 42. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (4/7) 43 Legal Tech > Market Details > Detailed Sector Taxonomy
  43. 43. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (5/7) 44 Legal Tech > Market Details > Detailed Sector Taxonomy
  44. 44. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (6/7) 45 Legal Tech > Market Details > Detailed Sector Taxonomy
  45. 45. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Detailed Sector Taxonomy (7/7) 46 Legal Tech > Market Details > Detailed Sector Taxonomy
  46. 46. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 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 47 | Funded 16 | Total Funding $71.1M) $47.3M (+$36.9M) 11 (+4) LawGeex (2014, Tel Aviv, $22.3M) 2 (+1) Legal Contract Management > Contract Lifecycle Management Companies offering an end-to-end contract management platform (Companies covered 71 | Funded 17 | Total Funding $286M) $123M (+$89.3M) 8 (-) Icertis (2009, Seattle, $96M) 3 (+6) Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit Companies offering brand protection & anti-counterfeit management solutions related to core IP (Companies covered 49 | Funded 21 | Total Funding $78.1M) $43M (+$40.9M) 9 (+3) 4iQ (2016, San Francisco, $14M) 4 (-3) Legal Contract Management > Contract Creation > e-Signature Companies offering contract digital signature management solutions to convert them into legally binding documents (Companies covered 53 | Funded 18 | Total Funding $565M) $29.7M (-$372M) 11 (+2) HelloSign (2011, San Francisco, $16M) 5 (-2) eDiscovery > SaaS > Review & Analytics Companies offering SaaS based eDiscovery review & analytics platform (Companies covered 43 | Funded 14 | Total Funding $238M) $53.3M (-$100M) 8 (+1) Disco (2012, Houston, $50.6M) 6 (-) Legal Contract Management > Contract Creation Companies designing templates for creating contract forms (Companies covered 63 | Funded 14 | Total Funding $28.1M) $21.3M (+$16.6M) 7 (-) Concord (2015, San Francisco, $23.5M) 7 (+1) Legal Research > Analytics Companies developing platform for analytics on lawyers, judges etc (Companies covered 67 | Funded 19 | Total Funding $44.7M) $13.8M (+$10M) 8 (+3) ROSS Intelligence (2014, San Francisco, $8.8M) 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 (May 2016 - April 2018) Legal Tech > Market Details > Top Markets of Investment Activity
  47. 47. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201848 Top Markets of Investment Activity (2/2) Legal Tech > Market Details > Top Markets of Investment Activity
  48. 48. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 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 53 | Funded 18 | Total Funding $565M ) 1 HelloSign (2011, San Francisco, $16M) 3 Dispute Resolution/Claims Management > Air Tickets Companies offering dispute resolution platform for air ticket claims (Companies created 26 | Funded 6 | Total Funding $18.8M ) 1 Airhelp (2013, New York City, $17.1M) 4 Lawyer's Marketplace > Listing & Booking > Listing > Online Notary Companies offering an electronic notarization system (Companies created 10 | Funded 3 | Total Funding $29.4M ) 1 Notarize (2015, Virginia, $29.4M) 5 Legal Contract Management > Contract Analytics & Due Dilligence Companies offering an AI based platform for reviewing, parsing and tagging documents (Companies created 47 | Funded 16 | Total Funding $71.1M ) 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 (May 2016 - April 2018) Legal Tech > Market Details > Top Markets of Early Stage Investors
  49. 49. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 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 70 | Funded 9 | Total Funding $133M) 24 $571k (+$571k) 3 (+3) Edicted (2014, Bremen, $221k) 2 Lawyer's Marketplace > Listing & Booking > Listing Companies offering a pure-play lawyer listing platform (Companies covered 82 | Funded 10 | Total Funding $1.9M) 28 $0 (0) 1 (+1) Lexdir (2014, Espana, $420k) 50 Other Notable Markets Other Notable Markets with high Entrepreneurial Activity in Legal Tech in last 2 years (May 2016 - April 2018) Legal Tech > Market Details > Other Notable Markets
  50. 50. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Incubators Y Combinator (#1) Seed Lool Ventures (#1), LionBird (#1) Series A/B Foundry Group (#1), Aleph Venture Capital (#1) Series C+ None $12M - Series B LawGeex (2014, Tel Aviv, $22.3M) $2.4M - Seed Heretik (2017, Chicago, $2.4M) $10M - Series A Luminance AI (2015, Cambridge, $13M) $1.9M - Series A LegalSifter (2013, Pittsburgh, $4.9M) $8M - Series A Ironclad (2014, San Francisco, $13.3M) $7M - Series A LawGeex (2014, Tel Aviv, $22.3M) $300k - Seed LegalSifter (2013, Pittsburgh, $4.9M) Series A Luminance AI (2015, Cambridge, $13M) Seed Beagle (2014, Toronto) $2.8M - Seed LegalSifter (2013, Pittsburgh, $4.9M) Apr 2018 Luminance extends AI platform to regulatory compliance work, Global Legal Post Apr 2018 Legal SaaS AI Platform LawGeex Raises $12 Million in New Funding, PR Newswire 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 Jan 2018 NetDocuments Announces AI Marketplace with Kira Systems Participation, Legal IT Professionals Dec 2017 Heretik attracts $2.4 mln seed, PE Hub Nov 2017 Talis leads $10m series-A for AI legal firm Luminance, Unquote Oct 2017 Ironclad Looks to Expand Following $8 Million Series A Round, Legaltech News Sep 2017 ThoughtRiver's AI contract analysis technology aims to disrupt how business contracts are reviewed, RealWire May 2017 $1m fundraise for regtech leader ThoughtRiver, UK Business Angels Association May 2017 ONE Discovery Partners With ayfie, Citybizlist Jan 2017 Cyril Amarchand Mangaldas in pact with software solutions firm Kira Systems, Livemint Dec 2016 Luminance Secures Funding from Talis Capital, FinSMEs News 0 1 2 3 4 5 6 7 $0k $5M $10M $15M $20M $25M $30M $35M 2014 2015 2016 2017 2018 YoY Funding Rounds - 2 6 16 47 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Legal Contract Management > Contract Analytics & Due Dilligence: Market Factsheet Market: Contract Analytics & Due Dilligence 51 Exits Most Active Investors Recent Investments YoY Funding and Rounds Companies offering an AI based platform for reviewing, parsing and tagging documents LawGeex (2014, Tel Aviv, $22.3M) Ironclad (2014, San Francisco, $13.3M) Luminance AI (2015, Cambridge, $13M) Brightleaf (2006, Westwood, $6.9M) Leverton (2012, Berlin, $5.5M) Top Companies #1 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence Companies Created 47 | Funded 16 | Total Funding $71.1M
  51. 51. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201852 Legal Contract Management > Contract Analytics & Due Dilligence: Top Companies Market: Contract Analytics & Due Dilligence Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence #1 Top Markets of Investment Activity Analyst’s Pick LawGeex (2014, Tel Aviv, $22.3M) Automated Contract analyzer Minicorn. Stage: Series B Aleph Venture Capital, Lool Ventures, LionBird, Recruit Holdings Ironclad (2014, San Francisco, $13.3M) Automated legal paperwork Editor's Pick. Stage: Series A Accel Partners, Y Combinator, 500 Startups and 4 Other Investors Luminance AI (2015, Cambridge, $13M) AI for legal due diligence Minicorn. Stage: Series A Talis Capital, Invoke Capital, Slaughter and May 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 Analyst’s Pick Heretik (2017, Chicago, $2.4M) Legal contracts reviewing platform Minicorn. Stage: Seed Corazon Capital, Chicago Ventures 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 Beagle (2014, Toronto) AI using NLP for Contract Automation Minicorn. Stage: Seed Nextlaw Labs, GTAN, Creative Destruction Lab, Seedcamp Crux IQ (2016, Chennai) Intelligent contract analytics Minicorn. Stage: Unfunded Analyst’s Pick Kira Systems (2011, Toronto) Contract automation Minicorn. Stage: Unfunded 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: Unfunded doXai (2015, Tel Aviv) Legal Document Analysis Editor's Pick. Stage: Unfunded Lawyaw (2016, San Francisco) AI enbaled solutions for legal document drafting Editor's Pick. Stage: Unfunded LexaTexer (2013, Berlin) Predictive analytics solutions for multiple industries Editor's Pick. Stage: Unfunded
  52. 52. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 53 Legal Contract Management > Contract Analytics & Due Dilligence: Leaderboard Market: Contract Analytics & Due Dilligence Legal Tech > Market Details > Market: Contract Analytics & Due Dilligence #1 Top Markets of Investment Activity Better than Market Average Overall Rating Company Name Foun ded Year Location Stage Funding Team Execution Quality Size Metrics 6M Growth Metrics App Rating App UX Web UX News Web Traffic Rank Social Follow ing Mobile Downl oads # App Revie ws Web Traffic Rank Mobile Downloads Social Following Δ % Δ % Δ % 5.0 Ironclad 2014 San Francisco Series A $13M - - - 4 3 1.1M 128 - - 456k 87% - - 41 44% 4.9 Kira Systems 2011 Toronto Unfunded - - - - 4 9 666k 3.1k - - 9k 1% - - 359 14% 4.8 reDock 2016 Ottawa Funded - - - - 4 - 8M 190 - - 4M 67% - - 61 47% 4.7 Heretik 2017 Chicago Seed $2M - - - 4 1 8.3M 165 - - -3.2M -27% - - 91 124% 4.5 Luminance AI 2015 Cambridge Series A $13M - - - - 16 1.4M 1.2k - - 279k 26% - - 397 52% 4.4 Lawyaw 2016 San Francisco Unfunded - - - - 4 1 939k 1.4k - - -1.4M -59% - - 45 3% 4.3 LawGeex 2014 Tel Aviv Series B $22M - - - - 4 516k 1.7k - - -757k -59% - - 435 35% 4.2 eBrevia 2011 Stamford Seed $2M - - - - 1 3.6M 1.4k - - 439k 15% - - 64 5% 4.1 LegalSifter 2013 Pittsburgh Series A $5M - - - - 3 3.5M 652 - - -2.6M -43% - - 100 18% 4.0 Lawgarithm 2017 Paris Unfunded - - - - 4 - - 5 - - - - - - 3 150% 3.9 Leverton 2012 Berlin Series A $6M - - - - 1 5.5M - - - 82M 7315 % - - - - 3.8 Legal Robot 2015 San Francisco Seed - - - - - - 2.3M 3 - - 634k 42% - - 1 50% 3.6 Ayfie 2016 New York City Unfunded - - - - 3 9 4.5M 693 - - -3.4M -66% - - 42 6% 3.5 Contract Wrangler 2016 San Mateo Unfunded - - - - 4 - 7.4M 18 - - 2M 17% - - - -
  53. 53. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Incubators CyLon (#1), Start-Up Chile (#1) Seed Point Nine Capital (#1), Seedcamp (#1) Series A/B Foundation Capital (#1), North Bridge (#1) Series C+ Crestline Investors (#1), Bluestem Capital (#1) Nextance Sep - 2007 Acq by Versata $3.6M - Series A Parley Pro (2014, Menlo Park, $3.6M) $2M - Seed Juro (2016, London, $2M) $50M - Series D Icertis (2009, Seattle, $96M) $84.9k - Series A Seal Software (2010, San Francisco, $4.1M) $25M - Series C Icertis (2009, Seattle, $96M) $25M - Series E SpringCM (2005, Chicago, $113M) $18.5k - Seed MyDocSafe (2013, Bedford, $235k) $17.5M - Series D SpringCM (2005, Chicago, $113M) $4.3M - Series D SpringCM (2005, Chicago, $113M) $14.9M - Series B Icertis (2009, Seattle, $96M) $217k - Angel MyDocSafe (2013, Bedford, $235k) Apr 2018 Juro grabs $2M to take the hassle out of contracts, TechCrunch Feb 2018 Icertis Secures $50 Million In Series D Funding, Reuters Jan 2018 ContractSafe announces GDPR-compliant contract management tool for SMB market, PRWeb Jan 2018 SpringCM Releases New Study That Examines Contract Management Usage and Challenges, PR Newswire Dec 2017 Seal Software and State of Flux Parner to tackle GDPR regulations, ReadITQuik Sep 2017 Pramata and ContractRoom Announce Strategic Partnership and Integrated Solution to Fill Void in Contract Management Space, GlobeNewswire Aug 2017 Icertis Selected By Sanofi (SNY) To Digitally Transform Its Contracting Foundation, BioSpace Jun 2017 Wellington Financial LP Provides US$24 Million Debt Financing Commitment to Contract ..., Business Wire May 2017 Icertis may expand operations in Europe, Asia-Pacific, Indiatimes May 2017 Susquehanna Growth Equity-backed iContracts Acquires PolicyStat, Citybizlist May 2017 iContracts buys PolicyStat, PE Hub Apr 2017 Seal Software Appoints Industry Leader to Drive Customer Success, Bobsguide Apr 2017 Seal Software Announces Partnership with Coin Sciences, Legal IT Professionals Mar 2017 Icertis Secures $25M in Series C, VC News Daily News 0 1 2 3 4 5 6 $0k $10M $20M $30M $40M $50M $60M 2014 2015 2016 2017 2018 YoY Funding Rounds 1 4 9 17 71 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Legal Contract Management > Contract Lifecycle Management: Market Factsheet Market: Contract Lifecycle Management 54 Exits Most Active Investors Recent Investments YoY Funding and Rounds Companies offering an end-to-end contract management platform SpringCM (2005, Chicago, $113M) Icertis (2009, Seattle, $96M) Nextance (2000, Austin, $52.4M) Exari (2000, Boston, $10M) Seal Software (2010, San Francisco, $4.1M) Top Companies #2 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Lifecycle Management Companies Created 71 | Funded 17 | Total Funding $286M
  54. 54. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201855 Legal Contract Management > Contract Lifecycle Management: Top Companies Market: Contract Lifecycle Management Legal Tech > Market Details > Market: Contract Lifecycle Management #2 Top Markets of Investment Activity Analyst’s Pick SpringCM (2005, Chicago, $113M) Cloud Enterprise Content and Contract Mangement Soonicorn. Stage: Series E 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 Seal Software (2010, San Francisco, $4.1M) Contract analysis: Clause extraction and review Minicorn. Stage: Series A Tern, Toba Capital, Kreos Capital Juro (2016, London, $2M) Contract management solutions Editor's Pick. Stage: Seed Point Nine Capital, Seedcamp
  55. 55. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 56 Legal Contract Management > Contract Lifecycle Management: Leaderboard Market: Contract Lifecycle Management Legal Tech > Market Details > Market: Contract Lifecycle Management #2 Top Markets of Investment Activity Better than Market Average Overall Rating Company Name Foun ded Year Location Stage Funding Team Execution Quality Size Metrics 6M Growth Metrics App Rating App UX Web UX News Web Traffic Rank Social Follow ing Mobile Downl oads # App Revie ws Web Traffic Rank Mobile Downloads Social Following Δ % Δ % Δ % 5.0 Cobblestone system 1995 Philadelphi a Unfunded - - 5 - - 1 1.5M 835 825 7 682k 87% - - 436 108% 4.9 SpringCM 2005 Chicago Series E $113M - 5 - - 10 177k 1.9k 750 21 -10k -5% - - 92 5% 4.8 Icertis 2009 Seattle Series D $96M - 5 - - 18 444k 802 825 16 -121k -21% - - 96 14% 4.8 Juro 2016 London Seed $2M - - - 3 1 1.9M 902 - - -208k -10% - - 139 18% 4.7 Advanced Software Concepts 1992 Ottawa Unfunded - - 4 - - - 4.8M - 750 4 2M 33% - - - - 4.6 Quickly Legal 2015 Chicago Unfunded - - 4 - - - 6.5M 18 8k 11 -3.6M -35% - - 3 16% 4.5 Seal Software 2010 San Francisco Series A $4M - - - - 6 1.1M 799 - - -93k -9% - - 126 19% 4.5 MyDocSafe 2013 Bedford Seed $235K - - - - - 1.6M 1.7k - - 451k 40% - - 92 6% 4.4 2Agree 2009 Nijmegen Unfunded - - - 2 2 - - 31 7 - - - - - - - 4.3 Contract Room 2012 San Mateo Seed $1M - - - - 1 2.2M 1.5k - - 119k 6% - - 17 1% 4.2 Exari 2000 Boston Series A $10M - - - - 4 1.5M 1.3k - - -214k -13% - - 38 3% 4.2 Lexigone 2016 Toulouse Unfunded - - - - 4 - 10M 202 - - - - - - 49 31% 4.1 Legisway 1990 La Garenne- colombes Unfunded - - - - 3 - 3.9M 242 - - 2M 57% - - -2 -1% 4.0 Parley Pro 2014 Menlo Park Series A $4M - - - - - 9.1M 104 - - 13M 172% - - - -
  56. 56. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Incubators Mistletoe (#1), Y Combinator (#1) Seed Trident Capital (#1), Asahi Shimbun (#1) Series A/B Focus Ventures (#1), Foundation Capital (#1) Series C+ NetNames Oct - 2011 Acq by HgCapital for $237M $12M - Series B Red Points (2011, Barcelona, $14.2M) $1.1M - Series A BrandShield (2010, Ramat Hasharon, $2.5M) $3.2M - Series A MUSO (2009, London, $3.2M) $345k - Seed Kopjra (2014, Bologna, $164k) $950k - Seed Binded (2016, San Francisco, $1.5M) $5.5M - Series A AppDetex (2011, Boise, $11.6M) $3.7M - Series A AppDetex (2011, Boise, $11.6M) $14M - Series A 4iQ (2016, San Francisco, $14M) $2.2M - Series A Red Points (2011, Barcelona, $14.2M) Series A DomainSkate (2012, New York City) $164k - Seed Kopjra (2014, Bologna, $164k) May 2018 Startup Image Protect Starts Blockchain Transformation of the Digital Content Industry, Coinspeaker 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 Red Points is helping brands win the war against counterfeiters, Silicon Republic Dec 2017 Image Protect Inc. Announces Historic Rise in Current Active Infringement Cases, NewMediaWire Nov 2017 Barmak Meftah Joins 4iQ Board of Directors, PR Newswire Nov 2017 NAFCU Services Selects BrandProtect as Preferred Partner for Cyber Threat Intelligence and Brand Protection, Citybizlist Oct 2017 Capital Art (CAPA) Selects Image Protect (IMTL) to Monitor its Distinguished Collection of Iconic Celebrity Imagery, Marketwired Jul 2017 Mumbai Based Startup IPHawk Raises Funding At TiE Mumbai SmashUp 7.0, Inc42 Jul 2017 AppDetex Expands in Boise with a New Location, Website and Revamped Logo, Press Release Rocket Jun 2017 MUSO Raises GBP2.5m in Series A round, Private Equity Wire News 0 1 2 3 4 5 6 $0k $5M $10M $15M $20M $25M 2014 2015 2016 2017 2018 YoY Funding Rounds 1 - 10 21 49 M&A/IPO Series C+ Series A+ Funded Companies Covered Funding Funnel Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Market Factsheet Market: Brand Protection & Anti-Counterfeit 57 Exits Most Active Investors Recent Investments YoY Funding and Rounds Companies offering brand protection & anti-counterfeit management solutions related to core IP Red Points (2011, Barcelona, $14.2M) 4iQ (2016, San Francisco, $14M) Cyveillance (1997, Reston, $14M) MarkMonitor (1999, San Francisco, $12M) AppDetex (2011, Boise, $11.6M) Top Companies #3 Top Markets of Investment Activity Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit Companies Created 49 | Funded 21 | Total Funding $78.1M
  57. 57. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201858 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Top Companies Market: Brand Protection & Anti-Counterfeit Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit #3 Top Markets of Investment Activity Analyst’s Pick Red Points (2011, Barcelona, $14.2M) Brand protection and anti piracy solution Editor's Pick. Stage: Series B Northzone, Mangrove Capital Partners, Banc Sabadell 4iQ (2016, San Francisco, $14M) Big data analytics & machine learning based threat intelligence platform Minicorn. Stage: Series A Trident Capital Cybersecurity, Adara Ventures, Telefónica Open Future 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, $164k) digital rights management Minicorn. Stage: Seed Casalini Zambon, TIM Ventures, Club Italia Investimenti 2, Custodi di Successo Adversarial (2014, San Francisco) Enterprise threat protection platform Minicorn. Stage: Unfunded Bouju (2012, Los Angeles) Enterprise brand protection Minicorn. Stage: Funded BAM Ventures, Plug and Play Tech Center Counterfeit.Technology (2014, Trevose) Software for copyrights protection Minicorn. Stage: Unfunded 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 Analyst’s Pick IPHawk (2017, Thane) Cloud-hosted AI-enabled IP protection platform Editor's Pick. Stage: Funded TiE Mumbai's SmashUp 7.0
  58. 58. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Note: Overall Rating is a combination of Funding and Team rating, along with Execution, Size and Growth metrics 59 Intellectual Property (IP) Management > Brand Protection & Anti-Counterfeit: Leaderboard Market: Brand Protection & Anti-Counterfeit Legal Tech > Market Details > Market: Brand Protection & Anti-Counterfeit #3 Top Markets of Investment Activity Better than Market Average Overall Rating Company Name Foun ded Year Location Stage Funding Team Execution Quality Size Metrics 6M Growth Metrics App Rating App UX Web UX News Web Traffic Rank Social Follow ing Mobile Downl oads # App Revie ws Web Traffic Rank Mobile Downloads Social Following Δ % Δ % Δ % 5.0 Copyrobo 2014 Ho Chi Minh City Unfunded - - 4 - - 1 3.5M 621 3k 24 3M 333% - - 715 244% 4.9 Red Points 2011 Barcelona Series B $14M - - - 5 3 251k 2.4k - - -21k -8% - - 561 31% 4.8 Binded 2016 San Francisco Seed $2M - - - 5 1 620k 2.1k - - 83k 16% - - 3 - 4.7 MarkMonitor 1999 San Francisco Acquired $12M - - - - 1 108k 3k 300 - 18k 20% - - 137 5% 4.6 MUSO 2009 London Series A $3M - - - - 2 705k 1.1k - - 138k 25% - - 17 2% 4.5 Cyveillance 1997 Reston Acquired $14M - - - - - 8.8M 7 - - 4M 53% - - 3 61% 4.4 BrandShield 2010 Ramat Hasharon Series A $3M - - - - 1 2M 176 - - -85k -4% - - 95 114% 4.3 QuickDMCA 2015 Longwood Unfunded - - 3 4 4 - 10M - 7 1 -2.5M -12% - - - - 4.1 Kopjra 2014 Bologna Seed $164K - - - - 1 10M 221 - - 8M 156% - - 5 2% 4.0 Topple Track 2011 Asheville Acquired $500K - - - - 1 10M 260 - - 11M 242% - - -10 -4% 3.9 Blockverify 2014 London Seed - - - - - - 2.3M 4k - - 387k 22% - - 1.9k 91% 3.8 Copypants 2015 Vancouver Unfunded - - - - 4 - 2.6M 122 - - 384k 20% - - 1 - 3.7 AppDetex 2011 Boise Series A $12M - - - - 3 937k 128 - - -798k -44% - - 10 8% 3.6 BrandProtect 2001 Toronto Funded - - - - - 2 6.3M 982 - - 5M 404% - - 18 2% 3.5 NetNames 1995 London Acquired - - - - - - 436k 1.9k - - 157k 61% - - -16 -1%
  59. 59. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: e-Signature 60 #4 Top Markets of Investment Activity Legal Tech > Market Details > Market: e-Signature Companies Created 53 | Funded 18 | Total Funding $565M
  60. 60. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201861 Market: e-Signature Legal Tech > Market Details > Market: e-Signature #4 Top Markets of Investment Activity
  61. 61. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201862 Market: e-Signature Legal Tech > Market Details > Market: e-Signature #4 Top Markets of Investment Activity Better than Market Average
  62. 62. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Review & Analytics 63 #5 Top Markets of Investment Activity Legal Tech > Market Details > Market: Review & Analytics Companies Created 43 | Funded 14 | Total Funding $238M
  63. 63. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201864 Market: Review & Analytics Legal Tech > Market Details > Market: Review & Analytics #5 Top Markets of Investment Activity
  64. 64. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201865 Market: Review & Analytics Legal Tech > Market Details > Market: Review & Analytics #5 Top Markets of Investment Activity Better than Market Average
  65. 65. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Contract Creation 66 #6 Top Markets of Investment Activity Legal Tech > Market Details > Market: Contract Creation Companies Created 63 | Funded 14 | Total Funding $28.1M
  66. 66. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201867 Market: Contract Creation Legal Tech > Market Details > Market: Contract Creation #6 Top Markets of Investment Activity
  67. 67. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201868 Market: Contract Creation Legal Tech > Market Details > Market: Contract Creation #6 Top Markets of Investment Activity Better than Market Average
  68. 68. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Analytics 69 #7 Top Markets of Investment Activity Legal Tech > Market Details > Market: Analytics Companies Created 67 | Funded 19 | Total Funding $44.7M
  69. 69. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201870 Market: Analytics Legal Tech > Market Details > Market: Analytics #7 Top Markets of Investment Activity
  70. 70. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201871 Market: Analytics Legal Tech > Market Details > Market: Analytics #7 Top Markets of Investment Activity Better than Market Average
  71. 71. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: SaaS 72 #8 Top Markets of Investment Activity Legal Tech > Market Details > Market: SaaS Companies Created 12 | Funded 5 | Total Funding $62.4M
  72. 72. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201873 Market: SaaS Legal Tech > Market Details > Market: SaaS #8 Top Markets of Investment Activity
  73. 73. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201874 Market: SaaS Legal Tech > Market Details > Market: SaaS #8 Top Markets of Investment Activity Better than Market Average
  74. 74. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Patent Analytics & Management 75 #9 Top Markets of Investment Activity Legal Tech > Market Details > Market: Patent Analytics & Management Companies Created 69 | Funded 21 | Total Funding $53.8M
  75. 75. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201876 Market: Patent Analytics & Management Legal Tech > Market Details > Market: Patent Analytics & Management #9 Top Markets of Investment Activity
  76. 76. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201877 Market: Patent Analytics & Management Legal Tech > Market Details > Market: Patent Analytics & Management #9 Top Markets of Investment Activity Better than Market Average
  77. 77. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Legal Research Assistant 78 #10 Top Markets of Investment Activity Legal Tech > Market Details > Market: Legal Research Assistant Companies Created 14 | Funded 4 | Total Funding $25.3M
  78. 78. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201879 Market: Legal Research Assistant Legal Tech > Market Details > Market: Legal Research Assistant #10 Top Markets of Investment Activity
  79. 79. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201880 Market: Legal Research Assistant Legal Tech > Market Details > Market: Legal Research Assistant #10 Top Markets of Investment Activity Better than Market Average
  80. 80. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Suite 81 #11 Top Markets of Investment Activity Legal Tech > Market Details > Market: Suite Companies Created 175 | Funded 15 | Total Funding $68.7M
  81. 81. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201882 Market: Suite Legal Tech > Market Details > Market: Suite #11 Top Markets of Investment Activity
  82. 82. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201883 Market: Suite Legal Tech > Market Details > Market: Suite #11 Top Markets of Investment Activity Better than Market Average
  83. 83. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Air Tickets 84 #3 Top Markets of Early Stage Investors Legal Tech > Market Details > Market: Air Tickets Companies Created 26 | Funded 6 | Total Funding $18.8M
  84. 84. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201885 Market: Air Tickets Legal Tech > Market Details > Market: Air Tickets #3 Top Markets of Early Stage Investors
  85. 85. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201886 Market: Air Tickets Legal Tech > Market Details > Market: Air Tickets #3 Top Markets of Early Stage Investors Better than Market Average
  86. 86. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Online Notary 87 #4 Top Markets of Early Stage Investors Legal Tech > Market Details > Market: Online Notary Companies Created 10 | Funded 3 | Total Funding $29.4M
  87. 87. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201888 Market: Online Notary Legal Tech > Market Details > Market: Online Notary #4 Top Markets of Early Stage Investors
  88. 88. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201889 Market: Online Notary Legal Tech > Market Details > Market: Online Notary #4 Top Markets of Early Stage Investors Better than Market Average
  89. 89. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Consultation 90 #1 Other Notable Markets Legal Tech > Market Details > Market: Consultation Companies Created 70 | Funded 9 | Total Funding $133M
  90. 90. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201891 Market: Consultation Legal Tech > Market Details > Market: Consultation #1 Other Notable Markets
  91. 91. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201892 Market: Consultation Legal Tech > Market Details > Market: Consultation #1 Other Notable Markets Better than Market Average
  92. 92. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Market: Listing 93 #2 Other Notable Markets Legal Tech > Market Details > Market: Listing Companies Created 82 | Funded 10 | Total Funding $1.9M
  93. 93. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201894 Market: Listing Legal Tech > Market Details > Market: Listing #2 Other Notable Markets
  94. 94. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 201895 Market: Listing Legal Tech > Market Details > Market: Listing #2 Other Notable Markets Better than Market Average
  95. 95. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Public Companies Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 96 Notable Acquisitions Top Acquirers Acqui-hires
  96. 96. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn Livestock Apr 2018 Business Intelligence Apr 2018 Enterprise Networking Apr 2018
  97. 97. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Public companies 98 Performance indicators of public companies in Legal Tech IPO Date Company Current MCap IPO Mcap Revenue P/E Exchange Ticker Jun 2002 Thomson Reuters (1800, New York City) Enterprise solutions for financial, risk, legal, tax and accounting $11.2B NYSE:TRI May 1996 FTI Technology (1982, Washington D.C.) FTI Technology: Software & Solutions for E-discovery $1.8B 29.91 FCN LegalZoom (2001, Glendale) Legal Document Services WSE:LGZ Wolters Kluwer (1836, The Hague) Suites for Legal office management and accounting firms. WKL Stratify (1999, Mountain View) eDiscovery document review Legal Tech > Exit Outlook > Public Companies
  98. 98. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Notable Acquisitions (1/4) 99 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2018 YTD 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: Anaqua Lecorpio (2006, Fremont, $25M) IP Management 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: $1.0B 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
  99. 99. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Notable Acquisitions (2/4) 100 Notable Acquisitions in Legal Tech Legal Tech > Exit Outlook > Notable Acquisitions 2015 Acquirer: TA Associates Management Mitratech (1987, Austin, $20.5M) Enterprise Legal Management solution 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
  100. 100. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Notable Acquisitions (3/4) 101 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: Cinven Deal: $1.5B CPA Global (1969, Saint Helier, $20.6M) IP Management 2011 Acquirer: HgCapital Deal: $237M 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
  101. 101. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Notable Acquisitions (4/4) 102 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: $10M Relativity Technologies (1997, Raleigh, $136M) eDiscovery ERDM process management Acquirer: Versata Nextance (2000, Austin, $52.4M) Enterprise contract management software Acquirer: Cantaro Clio (2008, Burnaby, $27M) Cloud-based legal practice management solutions for SMBs
  102. 102. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Most Active Acquirers 103 Legal Tech > Exit Outlook > Most Active Acquirers
  103. 103. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Date Target Dec-15 Cyveillance Acq by LookingGlass Dec-15 Proven Legal Technologies Acq by Consilio Nov-15 Innography Acq by CPA Global Nov-15 Lex Machina Acq by LexisNexis Oct-15 PacerMonitor Acq by Covenant Review Oct-15 Business Integrity Acq by Thomson Reuters Sep-15 Loislaw Acq by Fastcase Sep-15 CliXLEX Acq by Riverview Law Aug-15 CaseTrack Acq by Mitratech Aug-15 Consilio Acq by Shamrock Capital Advisors Jul-15 Effacts B.V. Acq by Wolters Kluwer Jul-15 Bridgeway Software Acq by Mitratech Jun-15 Topple Track Acq by Symphonic Distribution Apr-15 Shake Acq by LegalShield Acqui-hires (1/2) 104 List of Acqui-hires in Legal Tech Excludes all details for Chinese companies Date Target Apr-18 TotalDiscovery Acq by Catalyst Apr-18 Counselytics Acq by Conga Mar-18 AlphaTrust Acq by iPipeline Mar-18 Advanced Discovery Acq by GI Partners Jan-18 Docket Alarm Acq by Fastcase Nov-17 ThreadKM Acq by NetDocuments Nov-17 Allegory Acq by Integreon Nov-17 HotDocs Acq by AbacusNext Oct-17 NuLegal Acq by DTI Jul-17 TrialWorks Acq by Ridge Road Partners Jun-17 Ravellaw Acq by LexisNexis May-17 Modria Acq by Tyler Tech Jan-17 Omtool Acq by Upland Software Sep-16 Microsystems Acq by K1 Investment Management Date Target Jun-16 Fixed Acq by y LAWGIX INC May-16 Lawin1 Acq by MyeCA Apr-16 Norwel Acq by Civica Apr-16 Novatus Acq by Conga Apr-16 AcclaimiP Acq by Anaqua Mar-16 Content Analyst Acq by kCura Mar-16 Viewabill Acq by Mitratech Mar-16 Clearpath Acq by L1bre Feb-16 LawFarm Acq by Lawr.co Feb-16 CMA Contiki Acq by Exari Jan-16 Rekoop Acq by Intapp Jan-16 Orange Legal Technologies Acq by Xact Data Discovery Jan-16 Contractual Acq by Coupa Jan-16 LDiscovery Acq by The Carlyle Group Legal Tech > Exit Outlook > Acqui-hires
  104. 104. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Date Target Oct-10 Serengeti Law Acq by Thomson Reuters Jul-10 Veritext Acq by Investcorp Jun-10 Liquid Machines Acq by Check Point Software Oct-09 Sophoi Acq by Oracle Jul-08 Discovery Mining Acq by Interwoven Jun-08 Attenex Acq by FTI Consulting Jun-06 MiCase Acq by Business & Decision Jun-05 Aderant Acq by Francisco Partners May-04 Verilaw Technologies Acq by LexisNexis Ipro Tech Acq by ParkerGale E-STET Acq by Ernst and Young Acqui-hires (2/2) 105 List of Acqui-hires in Legal Tech Excludes all details for Chinese companies Date Target Apr-15 Prodagio Acq by Gimmal Feb-15 Total Attorneys Acq by Internet Brands Feb-15 FreelanceLaw Acq by Montage Legal Jan-15 Equivio Acq by Microsoft Jan-15 Sky Analytics Acq by Huron Consulting Group Sep-14 Smartlaw Acq by Wolters Kluwer Sep-14 Eclipse Legal Acq by Capita Aug-14 Quolaw Acq by vLex Aug-14 AttorneyFee Acq by LegalZoom Jul-14 PatentCore Acq by Reed Tech May-14 TyMetrix Acq by Wolters Kluwer Apr-14 Web IP Acq by NetNames Apr-14 Datacert Acq by Wolters Kluwer Oct-13 Pantros IP Acq by IP.com Date Target Sep-13 CitizenHawk Acq by Wolters Kluwer Sep-13 Corsearch Acq by Wolters Kluwer May-13 CudaSign Acq by Barracuda Feb-13 FirstToFile Acq by CPA Global Jan-13 LawPivot Acq by Rocket Lawyer Jul-12 MarkMonitor Acq by Thomson Reuters Jul-12 LeteralData Acq by Xerox Jun-12 RealPractice Acq by ReachLocal Apr-12 Driven Acq by Conversion Venture Capital Mar-12 Ivize eDiscovery Acq by Modus Feb-12 CaseCentral Acq by Guidance Software Dec-11 DTI Acq by Harvest Partners Oct-11 BayTSP Acq by Irdeto May-11 Nolo Acq by Internet Brands Legal Tech > Exit Outlook > Acqui-hires View all 81 Acqui-hired companies on Tracxn Platform
  105. 105. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 106 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  106. 106. Some more Sector Reports you might want to check out Join 4000+ people taking sharper decisions with Tracxn GRC Software Apr 2018 HRTech Apr 2018 GRC Software Apr 2018
  107. 107. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018108 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 (May 2013 - Apr 2018) Index of Most Active VC & PE Investors SEED STAGE Seedcamp (4 Investments) SV Angel (3 Investments) Crosslink Capital (3 Investments) Seed Capital (3 Investments) Right Side Capital Management (3 Investments) Greycroft Partners (2 Investments) Founders Fund (2 Investments) Slow Ventures (2 Investments) Foley Ventures (2 Investments) Draper Associates (2 Investments) Collaborative Fund (2 Investments) Structure Capital (2 Investments) Ulu Ventures (2 Investments) AGO Partners (2 Investments) General Catalyst Partners EARLY STAGE Foundry Group (2 Investments) Khosla Ventures (2 Investments) Ignition Partners Accel Partners Greycroft Partners Eight Roads Ventures Bessemer Venture Partners Govtech Fund Sound Ventures New Enterprise Associates LiveOak Venture Partners Innovation Endeavors OpenView Visionnaire Ventures M2O LATE STAGE Bessemer Venture Partners (2 Investments) HgCapital (2 Investments) Sapphire Ventures GV Bain Capital Ventures Founders Circle Capital Sands Capital Ventures Permira investment BBVA Ventures Jackson Square Ventures B Capital Group Vulcan Capital Cross Creek Advisors Meritech Capital Partners PSP Partners
  108. 108. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Seedcamp 109 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] 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. [Unicorn] UiPath (2005, Bucharest, $150M, Series B) Robotic process automation software [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] FishBrain (2010, Gothenburg, $28.5M, Series B) Mobile social network for fishers [Minicorn] Poq (2011, London, $23M, Series B) App commerce platform that enable retailers to create customized apps [Minicorn] Cymmetria (2014, Tel Aviv, $10.6M, Series A) Honeypot based threat detection & deception solution [Minicorn] BridgeU (2013, London, $8.2M, Series A) Data-driven admission counselling through predictive analytics Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Reshma Sohoni Co-Founder & Managing Partner Geographical Spread Stage of Entry 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 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
  109. 109. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 SV Angel 110 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > SV Angel People Investments [Minicorn] UpCounsel (2012, San Francisco, $26M, Series B) Online workplace for legal services [Minicorn] Casetext (2013, Palo Alto, $20.8M, Series B) AI-based legal research assistant Legal Tech Notable Portfolio [Unicorn] Snapchat (2011, Los Angeles, $2.6B, Public) Real-time ephemeral messaging service with a timer [Unicorn] Pinterest (2009, San Francisco, $1.5B, Series G) Visual social bookmarking service [Unicorn] Instacart (2012, San Francisco, $1B, Series E) Marketplace for same-day grocery delivery [Unicorn] Zenefits (2013, San Francisco, $584M, Series C) SaaS HR Platform for SMBs [Unicorn] Stripe (2010, San Francisco, $511M, Series D) Web & Mobile Payments for Developers [Unicorn] Kabbage (2009, Atlanta, $491M, Series F) Working capital financing for small businesses. [Unicorn] TransferWise (2010, London, $397M, Series E) International money transmitter based on currency swaps [Unicorn] Credit Karma (2007, San Francisco, $370M, Series D) Aggregator of various consumer financial products. [Unicorn] Opendoor (2014, San Francisco, $356M, Series D) Residential re-selling solution provider. [Unicorn] Warby Parker (2010, New York City, $300M, Series E) Internet-first brand of eyewear [Unicorn] Twilio (2007, San Francisco, $240M, Public) Cloud Communications API provider Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Ron Conway Founder & Co- Managing Partner Geographical Spread Stage of Entry Apr 2018 This NYC Startup Raised $38M to Help The Police Fight Crime With Software, AlleyWatch Jul 2017 Casetext Names Andrea Austin as Vice President of Sales, Business Wire Jul 2017 Casetext Names Jeroen Plink to Board of Directors, Business Wire Mar 2017 Palo Alto startup raises $12M to give lawyers an AI assistant, The Business Journals Jul 2015 UpCounsel Raises $10 Million in Series A Funding Led by Menlo Ventures, PR Newswire Feb 2015 Casetext Announces $7 Million Series A Round Funding, PRWeb Dec 2014 UpCounsel Raises $2.4 Million in Additional Funding Led by Metamorphic Ventures, Crosslink Capital, PR Newswire Oct 2013 Online Attorney Marketplace UpCounsel Raises $1.5 Million, Opens Its Patent Practice To All – TechCrunch, TechCrunch Jul 2013 Crime-fighting nerds raise $1.95M to bring law enforcement into modern era, VentureBeat None 1 1 3 2013 2014 2015 2016 2017 2018 Follow On New Investments - - - - 3 Undisclosed Series C+ Series B Series A Seed3 - - - - US
  110. 110. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Crosslink Capital 111 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Crosslink Capital People Investments [Minicorn] UpCounsel (2012, San Francisco, $26M, Series B) Online workplace for legal services [Minicorn] Casetext (2013, Palo Alto, $20.8M, Series B) AI-based legal research assistant Legal Tech Notable Portfolio [Unicorn] Casper (2014, New York City, $240M, Series C) Online direct-to-consumer mattress brand [Unicorn] Coupa (2006, San Mateo, $169M, Public) Cloud spend management software [Soonicorn] Prosper (2005, San Francisco, $410M, Series G) P2P Lending Marketplace [Soonicorn] Postmates (2011, San Francisco, $280M, Series E) On Demand Delivery through Mobile App [Soonicorn] Personal Capital (2009, Redwood City, $217M, Series E) Technology-augmented human advice platform [Soonicorn] DataStax (2010, Santa Clara, $190M, Series E) Database Platform built on Apache Cassandra [Soonicorn] Ayla Networks (2010, Sunnyvale, $124M, Series D) A platform for hosting connected devices [Soonicorn] Hired (2012, San Francisco, $103M, Series C) Marketplace for pre-assessed candidates [Soonicorn] RichRelevance (2006, San Francisco, $80.6M, Series F) Omnichannel Personalisation for Ecommerce [Soonicorn] ProtectWise (2013, Denver, $73.4M, Series B) Deep packet inspection & automated retrospection based threat detection Other Notable Portfolio Top Exits Recent News on Fund & Portfolio Sy Kaufman Founder Michael Stark Founder & Partner Geographical Spread Stage of Entry Jul 2017 Casetext Names Andrea Austin as Vice President of Sales, Business Wire Jul 2017 Casetext Names Jeroen Plink to Board of Directors, Business Wire Jul 2017 FairClaims seals $1.8 mln, PE Hub Mar 2017 Palo Alto startup raises $12M to give lawyers an AI assistant, The Business Journals Jul 2015 UpCounsel Raises $10 Million in Series A Funding Led by Menlo Ventures, PR Newswire Feb 2015 Casetext Announces $7 Million Series A Round Funding, PRWeb Dec 2014 UpCounsel Raises $2.4 Million in Additional Funding Led by Metamorphic Ventures, Crosslink Capital, PR Newswire Oct 2013 Online Attorney Marketplace UpCounsel Raises $1.5 Million, Opens Its Patent Practice To All – TechCrunch, TechCrunch None 1 1 1 2013 2014 2015 2016 2017 2018 Follow On New Investments - - - - 3 Undisclosed Series C+ Series B Series A Seed3 - - - - US
  111. 111. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Seed Capital 112 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Seed Capital
  112. 112. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Right Side Capital Management 113 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Right Side Capital Management
  113. 113. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Greycroft Partners 114 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Greycroft Partners
  114. 114. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Founders Fund 115 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Founders Fund
  115. 115. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Slow Ventures 116 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Slow Ventures
  116. 116. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Draper Associates 117 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Draper Associates
  117. 117. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Collaborative Fund 118 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Collaborative Fund
  118. 118. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Structure Capital 119 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Structure Capital
  119. 119. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Ulu Ventures 120 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Ulu Ventures
  120. 120. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 General Catalyst Partners 121 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > General Catalyst Partners
  121. 121. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Contents Feed Summary Investment Trend Market Details Exit Outlook Investors News Appendix 122 Details on VC & PE Investors Seed Stage Early Stage Late Stage Details on Top Ecosystem Players
  122. 122. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Foundry Group 123 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Foundry Group
  123. 123. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Khosla Ventures 124 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Khosla Ventures
  124. 124. Copyright © 2018, Tracxn Technologies Private Limited. All rights reserved.Feed Report - Legal Tech - May 2018 Ignition Partners 125 Portfolio in Legal Tech | Exits | Funds Link | Website | LinkedIn | Twitter Legal Tech > Investors > Ignition Partners

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