Austin-based LegalTech company DISCO raised US$60M equity financing, valuing the company at US$ 785 million. This latest funding brings total investment in DISCO to US$ 195 million.
The financing round was led by Georgian Partners. Other participants include existing investors Bessemer Venture Partners, LiveOak Venture Partners, The Stephens Group and new investor Breyer Capital.
The investment will be used to aggressively expand DISCO’s go-to-market team, doubling sales capacity in North America over the next 12-15 months. It will also be expanding its dedicated enterprise sales team, and growing its presence in the EMEA and APAC regions.
DISCO will expand its strategic channel program by working with service providers who resell DISCO. It continues to invest in its cloud technology platform, software products like DISCO Ediscovery and DISCO Case Builder and productized legal services like its fast-growing AI-powered DISCO Managed Review.
Founded in 2012 by Gabe Krambs, Kent Radford and Kiwi Camara, DISCO provides products and services that cover the entire investigation and litigation lifecycle. It has acquired the market-leader position in cloud ediscovery in an ediscovery market predicted to exceed US$ 20 billion by 2024. It has established itself as a trusted partner for the largest legal departments, law firms, and government agencies in the world.
“We are building the enterprise software system of record for the legal function. Every major company has a legal department and spends money on legal services, but there is very little software built to help legal professionals do their work. We want to change that. Legal is a critical business function just like sales or marketing or finance. We believe that software can transform the legal function just as it has transformed every other business function. DISCO is positioned to build for legal the kind of horizontal platform that Salesforce built for sales,” said DISCO Founder and CEO Kiwi Camara.
DISCO is recognized for its industry-leading innovation, customer service and culture. It is also one of two legal technology companies to be listed on the prestigious 2020 Forbes Cloud 100. DISCO is also the only ediscovery solution to earn the Top-Rated recognition from TrustRadius. DISCO’s CEO Kiwi Camara was also featured in The Software Report’s Top 50 SaaS CEOs of 2020.
What Investors have to say
“In an emerging space like legal technology, real-world solutions require both world-class technology and first-rate professional services. DISCO delivers both,” said Tyson Baber, Lead Investor at Georgian. “DISCO’s investment in engineering and development of their proprietary platform, coupled with their incredible team, makes them well-positioned to help legal teams embrace the future.”
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