Legal tech investment is off to a slow start in 2024. A Crunchbase report last week found that legal tech startups have raised just $356 million this year, compared with $871 million last year.
But in the past 30 days, legal tech companies have raised at least $414 million, according to my tracking, suggesting investment is on the rise and that the sector may be on track to surpass last year's totals.
We don't have access to the complete set of Crunchbase data, so we don't know if it includes funding from the past 30 days. The report is dated June 13th, and some of the investments below were announced after that date. We haven't calculated the totals for this year so far.
But if we just look at the last 30 days, here are the deals I know about.
(This chart does not include LawPro.ai, which announced it had raised an undisclosed amount of angel funding on June 13, or Arcadia Finance, a new litigation funding firm that announced it had secured more than $100 million in investment funding on June 18.)
| company | amount | date | round | Investor | Main Products |
| Master of Words | $5 million | June 20, 2024 | seed | Index Ventures led the round, with participation from General Catalyst, Felix, Yellow and S16vc. | An AI-driven, lawyer-engaged tool for corporate legal departments to provide fast advice. |
| Deep Judge | $10,000,000 | June 18, 2024 | seed | The round was led by Coatue, with participation from angel investors Gokul Rajaram and existing investors Thomas Dübendorfer, Daniel Sauter, Felix Ehrat and Christian Wenger. | Leverage AI to empower law firms and legal departments to search their own knowledge base. |
| Hona | $9.5 million | June 17, 2024 | Series A | The company was led by Costanoa Ventures, with participation from Ludlow Ventures, Soma Capital and Y Combinator. | Automatic client updates. |
| Richpay | $1.4 million | June 14, 2024 | Not mentioned. | SRM Ventures | Litigation funding |
| Atticus | $7.2 million | June 11, 2024 | Not mentioned. | Skip Capital and Blackbird Ventures. | Review and verify documentation. |
| Alexi | $11,000,000 | June 10, 2024 | Series A | The deal is led by Drive Capital, with participation from existing investors including Draper Associates. | Generative AI for legal research and litigation. |
| Farm Pilot | $5 million | June 10, 2024 | Series A | The round was led by Blumberg Capital, with participation from new and existing investors Valor Ventures, SaaS Ventures, FJ Labs and Connexa Capital. | An AI marketing engine for law firms. |
| case mark | $1,700,000 | June 10, 2024 | seed | The round was led by Google-backed investment firm Gradient Ventures, with participation from Cambrian and Ride Home AI Fund. | Use AI for document summarization, research, and legal analysis. |
| Structure Flow | $6 million | May 30, 2024 | Series A | FINTOP Capital led the investment, with additional investment from Venrex, a subsidiary of U.S. asset management fund Select Equity Group. | Visually model your enterprise structure. |
| Transcend | $40,000,000 | May 28, 2024 | Series B | Led by StepStone Group. | Data privacy and compliance. |
| Scribble | $3.5 million | May 24, 2024 | seed | Not disclosed. | Use AI to create deposition transcripts. |
| Active Navigation | $8 million | May 23, 2024 | Gresham House Ventures. | Data discovery and cleanup. | |
| Ultra-legal | $5 million | May 24, 2024 | seed | The round was co-led by Aleph and Disruptive AI fund, with participation from Alicorn Venture Capital and former Thomson Reuters CEO Tom Grosser. | Contract review for small and medium-sized businesses. |
| Deep L | $300 million | May 22, 2024 | Not mentioned. | The venture was led by Index Ventures, with participation from ICONIQ Growth, Teachers' Venture Growth, IVP, Atomico and World Innovation Lab. | translation. |
| Compros | $700,000 | May 20, 2024 | angel | Led by Dr. Ruchi Parekh, RDB Group and angel investors. | AI-driven research on Indian tax, legal and regulatory laws. |
