Total amount raised
$133.6 Millions
Latest funding date
01/01/2019
Location
Title
DISCO has successfully raised significant funding over multiple rounds, positioning itself as a key player in the legal technology sector. The platform offers AI-powered solutions for ediscovery and litigation hold, enhancing speed and productivity for legal professionals.
Keep reading to explore the intricacies of DISCO's fundraising journey and the investors backing this innovative platform.
What Is DISCO?
DISCO, founded in 2013, is headquartered in Austin, Texas. The company was established by Kiwi Camara and a team of legal and technology experts.
Specializing in AI-powered legal technology, DISCO offers solutions for ediscovery, document review, and litigation hold, enhancing efficiency for legal professionals.
With a growing team, DISCO continues to innovate and expand its offerings, serving a diverse clientele across various legal sectors.
How Much Funding Has DISCO Raised?
- Series A Funding Round
- Amount Raised: $2 million
- Date: January 15, 2014
- Lead Investors: LiveOak Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To triple the size of CS Disco's engineering, sales, and operations teams, and to expand its offices in Houston in 2014.
- Series C Funding Round
- Amount Raised: $18.575 million
- Date: August 2, 2016
- Lead Investors: The Stephens Group LLC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the release of new features, grow sales presence in major U.S. cities, and expand complementary professional services offerings.
- Growth Financing Round
- Amount Raised: $20 million
- Date: January 30, 2018
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate research and development, scale the U.S. go-to-market team, and expand into international markets such as Asia Pacific, Europe, and Latin America.
- Latest Funding Round
- Amount Raised: $83 million
- Date: January 24, 2019
- Lead Investors: Georgian Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth in the ediscovery market, expand into other areas of legal practice, and support international expansion.
Total Amount Raised: $123.575 million
Current Valuation: Not publicly disclosed
Key Investors
- Georgian Partners
- Details: Georgian Partners is a Toronto-based venture capital firm specializing in applied artificial intelligence. They led DISCO's latest $83 million funding round.
- Investment Focus Areas: SaaS-based business software, applied artificial intelligence, conversational AI.
- Notable Investments: Shopify, FreshBooks, Top Hat.
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a global venture capital firm investing in early-stage, hyper-growth startups. They have been involved in multiple funding rounds for DISCO.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, Pinterest, Shopify.
- LiveOak Venture Partners
- Details: LiveOak Venture Partners is an Austin-based venture capital firm focusing on early-stage investments. They have been a consistent investor in DISCO since the Series A round.
- Investment Focus Areas: Technology, software, services.
- Notable Investments: OJO Labs, Opcity, DISCO.
- The Stephens Group LLC
- Details: The Stephens Group LLC is a private, family-owned investment firm with over 80 years of history. They led DISCO's Series C funding round.
- Investment Focus Areas: Energy services, media, consumer products.
- Notable Investments: DISCO, Kele, Sound Seal.
- Comerica
- Details: Comerica is a venture-debt provider that participated in DISCO's latest funding round. They offer financial services to businesses and individuals.
- Investment Focus Areas: Venture debt, commercial banking, wealth management.
- Notable Investments: Not publicly disclosed.
What's Next for DISCO?
DISCO stands at the cusp of significant opportunities, particularly in the $12.5 billion ediscovery market. With plans to expand internationally, including regions like Canada, Europe, Asia, Australia, and Latin America, the company is poised to tap into the broader $437 billion legal market. This expansion is bolstered by the increasing consolidation behind cloud ediscovery platforms and the transformative impact of artificial intelligence on the legal industry.
Future fundraising seems likely as DISCO continues to scale its operations and develop new features, including a machine learning platform. The company’s aggressive growth plans and substantial investments suggest that additional funding rounds could be anticipated to support these initiatives. Potential acquisitions of smaller legal tech firms or complementary technologies may also be on the horizon to enhance their product offerings and market reach.
However, DISCO faces challenges such as competition from other legal technology providers and the need to rapidly scale operations while maintaining service quality. Ensuring data privacy and security, especially when dealing with sensitive legal documents, remains a critical concern. Navigating these challenges will be essential for DISCO as it continues to innovate and expand in the legal technology sector.
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