A Slow Year for Legal Tech Funding? Over $400 Million Invested in the Last 30 Days Suggests Otherwise

Investments in authorized tech received off to a gradual begin in 2024. A Crunchbase report simply final week stated that authorized tech startups had raised solely $356 million this yr, in comparison with $871 million final yr.

However within the final 30 days, in accordance with my monitoring, authorized tech firms have raised at the least $414 million — suggesting each that investments are selecting up and that the sector may very well be on observe to surpass final yr’s tally.

I do not need entry to the complete set of Crunchbase information, so I have no idea if it consists of any of those raises from the final 30 days. Its report was dated June 13, and several other of the investments beneath have been introduced after that date. I’ve not tallied the complete yr so far.

However wanting simply on the final 30 days, listed below are the offers I do know of.

(The chart doesn’t embody LawPro.ai, which stated on June 13 that it had obtained an undisclosed quantity of angel funding, or Arcadia Finance, a brand new litigation funding firm that stated on June 18 that it had secured entry to over $100 million in funding capital.)

Firm
Quantity
Date
Spherical
Buyers
Principal Product

Wordsmith
$5,000,000
6/20/2024
Seed
Led by Index Ventures, with participation by Normal Catalyst. Felix, Yellow and S16vc.
An AI-driven, lawyer-in-the-loop instrument for company authorized to offer fast recommendation.

DeepJudge
$10,000,000
6/18/2024
Seed
 Led by Coatue, with participation from  angel traders similar to Gokul Rajaram and current traders Thomas Dübendorfer, Daniel Sauter, Felix Ehrat and Christian Wenger.
Leverages AI to assist legislation companies and authorized departments search their very own information base,

Hona
$9,500,000
6/17/2024
Collection A
Led by Costanoa Ventures with participation from Ludlow Ventures, Soma Capital and Y Combinator.
Automated consumer updates.

Litipay
$1,400,000
6/14/2024
Not said.
SRM Ventures
Litigation funding

Atticus
$7,200,000
6/11/2024
Not said.
Skip Capital and Blackbird Ventures.
Doc evaluation and verification.

Alexi
$11,000,000
6/10/2024
Collection A
Led by Drive Capital, with participation from current traders together with Draper Associates.
Generative AI for authorized analysis and litigation.

FirmPilot
$5,000,000
6/10/2024
Collection A
Led by Blumberg Capital, with participation from new and current traders Valor Ventures, SaaS Ventures, FJ Labs, and Connexa Capital.
AI advertising and marketing engine for legislation companies.

CaseMark
$1,700,000
6/10/2024
Seed
Led by Gradient Ventures, an funding agency backed by Google, with participation from Cambrian and the Experience Dwelling AI Fund.
Makes use of AI for doc summarization, analysis, and authorized evaluation.

Structureflow
$6,000,000
5/30/2024
Collection A
Led by FINTOP Capital, with follow-on funding from Venrex, a part of Choose Fairness Group, a US asset administration fund.
Visually fashions company buildings.

Transcend
$40,000,000
5/28/2024
Collection B
Led by StepStone Group.
Knowledge privateness and compliance.

Skribe
$3,500,000
5/24/2024
Seed
Not disclosed.
Makes use of AI to create transcripts of deposition testimony.

ActiveNav
$8,000,000
5/23/2024

Gresham Home Ventures.
Knowledge discovery and cleanup.

Superlegal
$5,000,000
5/24/2024
Seed
co-led by Aleph and Disruptive AI fund, with the participation of Alicorn Enterprise Capital and former Thomson Reuters CEO Tom Glocer.
Contract evaluation for small and mid-sized companies.

DeepL
$300,000,000
5/22/2024
Not said.
Led by Index Ventures with participation from ICONIQ Development, Lecturers’ Enterprise Development, IVP, Atomico and World Innovation Lab.
Translation.

KonProz
$700,000
5/20/2024
Angel
Led by Dr. Ruchi Parekh, RDB Group and angel traders.
AI-driven analysis on India tax, authorized and regulatory legislation.