Extract from Robert Ambrogi’s article “$200M In Two Months Says Investors No Longer Snubbing Legal Tech”
Time was when legal tech startups couldn’t take a meeting with a major investment firm. Big New York and Silicon Valley investors turned up their noses, seeing insufficient upside in legal technology investments.
Well, times have changed. Need proof? Just look at the last two months — nearly $200 million in new investment in legal technology in May and June.
Granted, half that went to one company, eDiscovery software company Exterro, which announced on May 23 that it had received a strategic investment from private-equity firm Leeds Equity Partners. It didn’t say how much, but The Oregonian reported that the investment was more than $100 million.
But then the month of June brought another $85.5 million in investments in four legal technology companies. Here’s a recap of where the money came from and where it went.