- Cloud-based e-discovery and litigation platform Everlaw announced it has raised $62 million in a Series C funding round led by new investor CapitalG
Cloud-based e-discovery and litigation platform Everlaw announced it has raised $62 million in a Series C funding round led by new investor CapitalG and existing investor Menlo Ventures with participation from existing investors Andreessen Horowitz and K9 Ventures.
With this funding round, Everlaw has raised a total of $96 million. And CapitalG partner Jesse Wedler will join the company board of directors. Plus Everlaw announced it achieved a FedRAMP Authority to Operate at the moderate impact level with support from the U.S. Department of Justice, enabling the government to securely implement the platform for e-discovery, collaboration, and document review for productions, investigations, and litigation.
The volume of data and e-discovery workloads is growing at a rapid pace — which is causing it to become more demanding. And litigators and investigators are struggling with the cost and complexity of mining through massive troves of documents. Evidence is known as the “lifeblood of law,” but only a small fraction of documents are relevant for each case. This is why modern e-discovery is a new imperative for quickly uncovering that needle of truth in the haystack required to advance justice.
How does Everlaw work? Everlaw’s cloud-based e-discovery solution enables legal teams to easily find relevant information for internal investigations and litigation, and collaborate on research, analysis, narrative-building and courtroom-ready presentation of the material. Plus it uses artificial intelligence to quickly reveal connections and insights in all types of written and multimedia data that might otherwise be overlooked and that can help make or break a legal case.
The data stored and the number of matters on the platform have more than doubled year-over-year. And the company’s customers include Hilton, Dick’s Sporting Goods, Juniper Networks, the National Association of Attorneys General, and global law firms like Travers Smith, Orrick, Covington & Burling LLP, and Greenberg Traurig LLP.
A number of journalists, educators, and nonprofits also tap into Everlaw every day to do their jobs. By processing up to 500,000 documents per hour, Everlaw’s technology is five times faster than the nearest cloud competitor, with its largest case reaching 68 million documents.
Key Quotes:
“The stakes for uncovering the truth and upholding justice have never been higher. Yet the process to find this information is incredibly challenging, and we want to give teams the tools they need to find the needles in the haystack — those critical pieces of evidence that change the trajectory of their cases. This investment will help us further scale growth, from recruiting efforts to continued international expansion and investing in new features so organizations around the globe can use our truth-finding machine to advance justice and the rule of law.”
-AJ Shankar, founder and CEO of Everlaw
“Everlaw is modernizing the way litigators and investigators bring evidence to light. Technology is well-suited to address today’s data overload problem, and with their world-class engineering team and cloud-native product, Everlaw is enabling litigation teams to focus on truth discovery and leave the manual work to the machines.”
-Jesse Wedler, partner at CapitalG
“The legal industry continues to replace broken, manual workflow with modern software. As a category-leader, Everlaw can build a multi-billion dollar business. But ediscovery is just the tip of the iceberg: We believe that Everlaw can extend their product offering to customers, with purpose-built software that brings new efficiency to the legal sector.”
-Tyler Sosin, Menlo Ventures partner and Everlaw board member
“Everlaw is changing the way legal teams uncover the truth buried in mountains of data and documents. Everlaw has already established itself as a leader in the $11 billion ediscovery market, and promises to make a lasting impact defining modern work solutions for litigators.”
-Steven Sinofsky, board partner at Andreessen Horowitz
“Everlaw is well-positioned to transform the legal industry. And, with the explosion of data, transforming often highly manual ediscovery processes is needed to bring ediscovery into the digital age. Large corporations in particular will greatly benefit from efficiencies gained through Everlaw’s unique search capabilities and AI-powered technology.”
-Ryan O’Leary, lead analyst at IDC
