Legal Tech Company Everlaw Closes Series A Funding Round
Legal technology company Everlaw Inc. has closed an $8.1M Series A funding round, led by top venture capital firm Andreessen Horowitz.
This funding comes five years after Everlaw’s launch and will enable the company to accelerate its mission to bring cutting-edge computer science and modern design principles to the legal field, the company said in a release. Everlaw’s eponymous ediscovery software is used by international law firms, corporations, and government agencies to prepare for litigation. The investment underscores the potential both of the company and of the legal technology field.
Legal software has lagged behind other industries. Lawyers have struggled with difficult-to-use tools and relied on antiquated manual approaches. Everlaw’s software changes that: it provides user-friendly, tech-advanced tools to help lawyers work more effectively. This allows legal teams to find evidence and construct the narrative needed to win in court.
2015 was a year of growth for the company:
● Named a “Vendor to Watch” in ediscovery by Gartner
● Powered major General Motors Ignition Switch litigation
● Released 24 new features and feature improvements
● Named a “101 Best Company to Work For” in the San Francisco Bay Area
● Grew team by 33 percent
Andreessen Horowitz, a leading Silicon Valley venture capital firm, has also invested in such companies as Facebook, Twitter, Airbnb, Box, Slack, Optimizely, and Zenefits. Andreessen Horowitz Partner Steven Sinofsky will be joining the Everlaw Board of Directors.
“This investment fuels our vision of a unified litigation platform with advanced artificial intelligence and data visualization, a beautiful user experience, and rich collaboration from discovery to the courtroom,” said Everlaw CEO AJ Shankar.
“At Andreessen Horowitz, we are always incredibly excited to see technology founders taking on the hard work of re-imagining an industry. It is super clear that mobile, machine learning, and cloud delivered via SaaS will revolutionize every vertical, including legal. We love the work that the Everlaw team has done to bring such high-powered efforts to an incredibly important part of the economy,” said Andreessen Horowitz Partner Steven Sinofsky.
