Funding is flowing into the legal tech segment of the market. Legal tech platforms have been gaining popularity around the world in recent years, resulting in a market valued at an estimated at $29.8 billion at the end of 2022, according to Reuters data, and that is expected to continue to grow at a compound annual growth rate (CAGR) of 8.9 percent in the next decade. Consisting of technology and software that aims to improve and/or streamline legal services and processes, legal tech encompasses the application of various technologies, such as artificial intelligence (“AI”), machine learning, cloud computing, automation, and data analytics, among others, to enhance the delivery, efficiency, and accessibility of legal services. Specifically, tech-driven innovation is assisting firms in case management, document drafting, legal research, e-discovery, risk management, etc.
While the legal industry has traditionally been slow to embrace technology, the onset of the pandemic – and more recently, the growing adoption of AI across industries – has led to an increase in legal tech software and services offerings (including in the realm of generative AI), and a notable number of mergers, acquisitions, and funding rounds. In order to get a handle on what legal tech providers are garnering the most traction – and funding – and to take the temperature of this space more broadly, we have compiled a (running) tracker of legal tech funding and M&A …
Feb. 27, 2025 – Jurimesh Raises €1.6M in Pre-Seed Funding
Jurimesh has raised €1.6 million in a pre-seed funding round led by Syndicate One, with additional participation from several business angels. The Belgian legaltech startup, which is “reshaping legal due diligence through AI-powered automation,” will use the new funds to enhance its platform, refine risk identification, and accelerate its European expansion.
Hans Kayaert of Syndicate One highlighted the potential of Jurimesh’s technology, stating, “We believe Jurimesh is charting a new path in legal tech at a time when the market is increasingly eager for AI-driven solutions. Their sharp focus on perfecting legal due diligence demonstrates the next chapter in the evolution of legal AI.”
Feb. 24, 2025 – WilsonAI Raises $1.7M in Pre-Seed Round
WilsonAI has raised $1.7 million in a pre-seed funding round led by Nomad Ventures, with additional participation from Autopilot Ventures, Entrepreneur First, Transpose Platform, and strategic angels, including Mei Z and several exited founders and law firm partners. The generative AI platform – which automates routine legal tasks, streamlines workflows, and provides knowledge management and automated reporting – will use the funds to enhance its AI capabilities, expand integrations with existing legal tech stacks, and accelerate customer onboarding across industries.
Gus Neate, co-founder and CEO of WilsonAI, commented, “In-house legal teams face increasing pressure to do more with less, yet they are still bogged down by repetitive tasks. WilsonAI is here to change that. Our AI paralegal augments legal teams at all levels, from General Counsel to junior lawyers, by handling routine work so they can focus on strategic priorities.”
Feb. 19, 2025 – SingleFile Raises $9M in Series A
SingleFile has raised $9 million in a Series A funding round led by Foundry Group, with participation from Pioneer Square Labs, The LegalTech Fund, and several prominent law firms, including Wilson Sonsini, Cooley, DLA Piper, Fenwick, and Perkins Coie. The legal and compliance tech startup will use the new funds for “platform enhancements, scaling operations, and expanding senior leadership,” including the appointments of Mindy Lauck as Chief Product Officer and Teresa Kotwis as Chief Financial Officer.
Aaron Finn, CEO of SingleFile, highlighted the company’s growth, stating, “With the adoption by over 60 law firms and more than 4,000 customers, this funding positions us to double our platform’s capabilities and deliver even greater value to our customers.”
Feb. 18, 2025 – Augmetec Raises £2M in Seed Funding
Augmetec has raised £2 million in a seed funding round led by Fuel Ventures, with participation from 14Peaks Capital and three angel investors. The UK-based legaltech start-up will use the new funds for “expanding its client base, product development, international enterprise partnerships, and team growth in engineering, compliance, operations, and sales.”
Kritin Sundaram, CEO and founder of Augmetec, stated, “Our vision is to ease the overwhelming burden on investigative teams handling complex and multi-jurisdictional investigations. With the growing number of global investigations, we believe Augmetec is perfectly positioned to meet this evolving need.”
Feb. 18, 2025 – Luminance Raises $75M in Series C
Luminance has raised $75 million in a Series C funding round led by Point72 Private Investments, with additional participation from Forestay Capital, RPS Ventures, Schroders Capital, and existing investors including March Capital, National Grid Partners, and Slaughter and May. The AI-driven legaltech platform will use the new funds for “innovation, expansion, and scaling,” including key hires and new offices across the US, APAC, and Europe. Eleanor Lightbody, CEO of Luminance, highlighted the growth potential of the legal AI market, stating, “This funding supercharges our US growth, where 40 percent of our revenue is already generated, and enables us to continue pioneering new developments in AI.”
Feb. 14, 2025 – Eudia Raises $105M in New Round
Eudia has raised $105 million in a funding round led by General Catalyst, with additional participation from Floodgate, Sierra Ventures, Hakluyt Capital, and Defy. The AI startup, which develops software for in-house legal teams, will receive $30 million upfront, with an additional $75 million contingent on strategic acquisitions approved by General Catalyst. Eudia will use the new funds for “expanding product and engineering teams, enhancing AI capabilities, and pursuing strategic acquisitions to accelerate growth.”
Omar Haroun, CEO of Eudia, highlighted the company’s mission, stating, “We’re transforming legal operations by automating routine tasks with AI agents, enabling legal teams to operate more efficiently and strategically.”
Feb. 13, 2025 – Harvey Raises $300M in Series D
Harvey has raised $300 million in a Series D funding round led by Sequoia and including Coatue, Kleiner Perkins, OpenAI Startup Fund, GV, Conviction, Elad Gil, and REV, the venture capital arm of RELX Group, which owns LexisNexis Legal & Professional. The San Francisco-based generative AI startup, which focuses on the legal profession by harnessing the power of OpenAI’s GPT-4 large language model AI to provide these capabilities to a growing number of law firms, will use the new funds to “continue improving our platform, scaling agentic workflows, building out integrated enterprise use cases, and growing our team.”
CEO Winston Weinberg said, “In 2024, we saw 4x annual recurring revenue (ARR) growth and expanded from 40 customers to 235 customers in 42 countries, including the majority of the top 10 US law firms. We’ve also seen the legal and professional services industry shift faster than ever before. Lawyers are adopting technology at an unprecedented rate, centuries-old firms are experimenting with new business models, and enterprises are driving significant savings with AI-enabled workflows. The pace of change will only accelerate in 2025.”
Feb. 13, 2025 – Aracor Raises $4.5M in Pre-Seed
Aracor AI has raised $4.5 million in a Pre-Seed funding round led by Fuel Venture Capital. The Miami-based legal tech startup, which focuses on due diligence and contract reviews for in house legal teams and business people, touts itself as a “pioneer in co-intelligent legal solutions, combining cutting-edge AI technology with professional human expertise to empower legal teams and professionals worldwide.”
Feb. 12, 2025 – SpotDraft Raises $54M in Series B
SpotDraft has raised $54 million in a Series B funding round led by Vertex Growth Singapore and Trident Partners, with participation from existing investors (Xeed VC, Arkam Ventures, Prosus Ventures, and Premji Invest). The New York-based company, which provides an AI-driven contract lifecycle management (CLM) platform built for in-house legal teams, will use the new funds to scale its team. “We believe 2025 will be an inflection point for team SpotDraft,” said Shashank Bijapur, CEO of SpotDraft. “Apart from market expansion and talent growth, we’re strongly committed to deepening the use of AI in the product to help legal teams unlock efficiencies and drive innovation.”
Feb. 5, 2025 – Ivo Raises $16M in Series A
Ivo has raised $16 million in a Series A funding round led by Costanoa Ventures, with participation from Fika Ventures, Uncork Capital, NFDG, Blackbird VC, GD1, and Phase One Ventures. The San Francisco-based legal tech startup will use the new funds to further scale its AI-powered contract review solution, which is currently being used by companies like Canva, Fonterra, Pipedrive, Weightwatchers, Eventbrite, Blue Cross Blue Shield Kansas City, and several Fortune 500’s.
“Ivo is fundamentally transforming contract review for lawyers and legal teams,” said Amy Cheetham, Partner at Costanoa Ventures. “By leveraging AI to manage the meticulous, painstaking work of contract review, Ivo gives legal teams tools designed by lawyers to work faster with greater accuracy. In a world where legal organizations are constantly under pressure to meet business demands and improve efficiency, the launch of Ivo’s new search tool will allow legal teams to search and generate reports across their entire contract portfolio, significantly reducing their workload and increasing efficiency.”
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