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Total amount raised
$132M
Latest funding date
2023-04-11
Location
Doctrine has successfully raised $12.3 million over two funding rounds, establishing itself as a key player in the legal tech industry. The platform leverages artificial intelligence to streamline legal research and analytics for professionals.
What Is Doctrine?
Doctrine, founded by Nicolas Bustamante, is a Paris-based company that leverages artificial intelligence to provide legal research and analytics software for legal professionals. The platform aims to streamline case handling and business growth for its users.
Established with a mission to advance open justice globally, Doctrine has grown to employ between 51 and 200 people. The company focuses on automating repetitive legal tasks, thereby enhancing productivity and ensuring the security of legal positions.
For more information about Doctrine, visit their official website or explore career opportunities on their Wellfound page.
How Much Funding Has Doctrine Raised?
- Seed Funding Round
- Amount Raised: €2 million (~$2.2 million USD)
- Date: October 2016
- Lead Investors: Otium Venture, Kima Ventures, TheFamily; with angel investors Oleg Tscheltzoff, Florian Douetteau, and Thibault Viort
- Motivation Behind the Round: To expand the team and develop R&D efforts, aiming to become the leader in the French legal tech market before international expansion.
- Series A Funding Round
- Amount Raised: €10 million (~$11.6 million USD)
- Date: June 2018
- Lead Investors: Otium Venture, Xavier Niel
- Motivation Behind the Round: To build and enhance a search engine for court decisions and other legal texts, and to support the company's growth and hiring plans.
- Private Equity (Majority Growth Investment)
- Amount: Approximately €120 million (~$132 million USD) — reported by Maddyness as the largest deal in French legaltech; official amount undisclosed by the company
- Date: April 11, 2023
- Lead Investors: Summit Partners (lead), Peugeot Invest
- Details: Summit Partners and Peugeot Invest acquired a majority stake in Doctrine, marking the company's most significant financing event and the largest transaction in the French legaltech sector to date.
Total Amount Raised: At least $13.8 million in disclosed early-stage rounds (Seed + Series A), plus an additional majority growth investment of approximately €120 million (~$132 million USD) in April 2023 (amount reported by Maddyness; not officially confirmed by Doctrine).
Current Valuation: Approximately €120 million (~$132 million USD) based on the 2023 transaction.
Key Investors
- Summit Partners
- Details: Summit Partners is a global alternative investment firm based in Boston, Massachusetts, managing over $36 billion in capital. They led the majority growth investment in Doctrine in April 2023.
- Investment Focus Areas: Growth equity, technology, software, and growth-stage companies
- Notable Investments: Multiple global growth-stage technology and software companies
- Peugeot Invest
- Details: Peugeot Invest is the family office of the Peugeot family, serving as a co-investor alongside Summit Partners in the 2023 majority growth investment in Doctrine.
- Investment Focus Areas: Technology, growth-stage companies, diversified investments
- Notable Investments: Diversified portfolio across technology and industrial sectors
- Otium Venture
- Details: Otium Venture is a venture capital firm investing in early-stage and growth startups in France. They participated in both the Seed and Series A rounds for Doctrine.
- Investment Focus Areas: Technology, innovative startups, early-stage companies
- Notable Investments: Not specified
- Xavier Niel
- Details: Xavier Niel is a French entrepreneur and businessman, known for his contributions to technology and telecommunications. He participated as an investor in Doctrine's Series A round.
- Investment Focus Areas: Technology, telecommunications, innovative startups
- Notable Investments: Not specified
- Kima Ventures
- Details: Kima Ventures is a venture capital firm known for its extensive early-stage portfolio across sectors globally. They participated in Doctrine's Seed round.
- Investment Focus Areas: Technology, digital media, innovative startups
- Notable Investments: Not specified
- Oleg Tscheltzoff
- Details: Oleg Tscheltzoff is the co-founder of Fotolia, a stock photo company. He invested as a business angel in Doctrine's Seed round.
- Investment Focus Areas: Digital media, technology, innovative startups
- Notable Investments: Fotolia
What's Next for Doctrine?
Doctrine stands at the cusp of significant growth opportunities, driven by the increasing demand for efficient legal data management. With the legal industry moving towards open data and automation, Doctrine's advanced AI capabilities position it well to capitalize on these trends. The platform's ability to provide a superior search engine for court decisions and legal texts offers a substantial market presence, currently serving a thousand companies.
As Doctrine continues to expand, future fundraising rounds are likely to support its ambitious plans, including hiring 160 new employees and enhancing its technology. However, challenges such as competition from established players like Dalloz and LexisNexis, and the need to anonymize court decisions, remain. Navigating these hurdles will be crucial for Doctrine's sustained growth and success in the evolving legal tech landscape.
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