What happened last week at Legaltech?
AI was certainly the buzzword, but what I found more tangible and timely was the continued growth of cloud-based eDiscovery software companies. Is Relativity losing market share to the newer school organizations such as DISCO and Logikcull?
CS Disco Inc. announced a $20M equity financing. Bessemer Venture Partners led the round, with participation from LiveOak Venture Partners and The Stephens Group. All three were existing DISCO investors. This brings the total investment in DISCO to more than $50M. Logikcull raised a $25 million Series B round in just 17 days.
Flush with capital, these eDiscovery challengers will continue to hire talent and gain market share.