REUTERS/Dado Ruvic/Illustration

Everlaw secures $202 mln,’unicorn’ status with Series D round

Nov 2 – Everlaw Inc, an e-discovery software program supplier, stated on Tuesday it has raised $202 million in a Series D funding round led by TPG Progress, the expansion funding arm of personal fairness agency TPG.

The Oakland, California-based authorized expertise firm stated the round brings its valuation to “over $2 billion.” New investor HIG Progress Companions and current backers Andreessen Horowitz, Alphabet’s CapitalG, Menlo Ventures and K9 Ventures participated within the round, the corporate stated.

Everlaw joins a small however rising variety of authorized tech corporations to realize “unicorn” status, which means a startup valued at greater than $1 billion.

The corporate’s e-discovery platform can be utilized in litigation, case preparation and inside investigations.

Everlaw markets to regulation corporations, company authorized departments and authorities businesses. The corporate has stated it counts Hilton Worldwide Holdings Inc and Dick’s Sporting Items Inc as company prospects, in addition to lots of the excessive grossing U.S. regulation corporations and U.S. state attorneys normal.

With the brand new round, Everlaw has raised $305 million in whole, in response to the corporate, which was based in 2010.

CS Disco Inc, Exterro Inc, Relativity, Reveal Knowledge Corp and Logikcull are among the many different massive e-discovery software program suppliers competing for purchasers available in the market. Disco hit a milestone when it went public over the summer time.

Editor’s notice: The story has been up to date to appropriate an error in TPG’s title within the first paragraph

Learn extra:

As DISCO shares bounce, CEO says ‘software program is coming’ to authorized sector

E-discovery market consolidation continues with ‘nine-figure’ Exterro acquisition

Sara Merken

Sara Merken studies on privateness and information safety, in addition to the enterprise of regulation, together with authorized innovation and key gamers within the authorized providers business. Attain her at [email protected]