Total amount raised
$298.6 Millions
Latest funding date
11/1/2021
Location
Everlaw has successfully raised significant funding through multiple rounds, with the latest being a Series D. The platform offers AI-powered, cloud-native ediscovery software designed to transform litigation and investigations.
Keep reading to explore the intricacies of Everlaw's fundraising journey and the investors backing this innovative platform.
What Is Everlaw?
Everlaw, founded in 2010 by AJ Shankar and Jeffrey Friedman, is headquartered in Oakland, California. The company specializes in providing AI-powered, cloud-native ediscovery software designed to simplify complex legal work for law firms, corporations, and government agencies.
Everlaw's platform offers features for ediscovery, early case assessment, legal holds, trial preparation, data privacy, and internal investigations. The software leverages powerful analytics and machine learning tools to provide near-instant insights and is designed to be easy to use.
With a team of 251-500 employees, Everlaw continues to innovate and transform the legal technology landscape, enabling teams to discover, reveal, and act on information to drive internal investigations and positively impact the outcome of litigation.
How Much Funding Has Everlaw Raised?
- Seed Round
- Amount Raised: $655K
- Date: February 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop the core platform and validate the business model.
- Seed Round
- Amount Raised: $850K
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $8.1M
- Date: January 2016
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $25M
- Date: June 2018
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series C
- Amount Raised: $62M
- Date: March 2020
- Lead Investors: CapitalG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in AI capabilities and support global expansion.
- Series D
- Amount Raised: $202M
- Date: November 2021
- Lead Investors: TPG Growth
- Valuation at Round: Over $2 billion
- Motivation Behind the Round: To support global growth, product innovation, and channeling partnerships.
Total Amount Raised: $297.6M
Current Valuation: Over $2 billion
Key Investors
- TPG Growth
- Details: TPG Growth is a global private equity firm that focuses on growth capital investments. It is part of TPG, a leading global alternative asset firm.
- Investment Focus Areas: Technology, healthcare, consumer products, business services.
- Notable Investments: Airbnb, Uber, Spotify.
- CapitalG
- Details: CapitalG is the growth equity investment fund of Alphabet Inc. (Google's parent company). It focuses on investing in growth-stage technology companies.
- Investment Focus Areas: Technology, innovation, growth-stage companies.
- Notable Investments: Lyft, Stripe, Duolingo.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a venture capital firm that backs bold entrepreneurs building the future through technology. It has a broad investment mandate across various stages and sectors.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: Facebook, Airbnb, Slack.
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. It has been investing in technology and life sciences for over 40 years.
- Investment Focus Areas: Technology, life sciences, consumer products.
- Notable Investments: Uber, Roku, Warby Parker.
- K9 Ventures
- Details: K9 Ventures is a seed-stage venture capital firm that focuses on early-stage technology startups. It is known for its hands-on approach and close collaboration with founders.
- Investment Focus Areas: Early-stage technology startups, innovation, seed-stage companies.
- Notable Investments: Lyft, Twilio, CrowdFlower.
What's Next for Everlaw?
Everlaw stands at the cusp of significant growth opportunities, driven by the increasing demand for e-discovery solutions among law firms, corporate legal departments, and government agencies. With a valuation now exceeding $2 billion, the company is well-positioned to expand its global footprint and enhance its product offerings.
Future fundraising efforts could see Everlaw attracting more venture capital or even considering an IPO, given its strong market position and investor interest. However, the company will need to navigate challenges such as intense competition and the need to continuously innovate to maintain its edge in the rapidly evolving legal tech landscape.
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