Legal technology company CS DISCO Raises $18.575M Series C funding

Global News

02
Aug
2016

Editor

Investment to drive further growth and innovation in legal technology 

Legal technology company CS Disco Inc. today closed $18.575M in Series C funding. The Stephens Group LLC, a private equity firm, led the round, with participation from existing investors Bessemer Venture Partners and LiveOak Venture Partners. This brings total investment in DISCO to more than $35M.  

DISCO’s next-generation ediscovery platform has seen rapid adoption among litigation boutiques and the AmLaw 200. More and more law firms are switching to DISCO as a preferred solution firmwide.  

“We see DISCO as an emerging leader in the ediscovery market and look forward to how this new Series C funding will fuel continued expansion and help DISCO meet growing customer demand,” said James Rosenthal, director of litigation services with Manatt, Phelps & Phillips LLP.  

DISCO will use this investment to accelerate the release of new features, including the DISCO machine learning platform; grow its sales presence in major U.S. cities, including its new sales team focused on corporate legal departments; and expand its complementary professional services offerings. 

“I am excited by even faster, cutting edge analytic innovations added to DISCO’s already impressive, easy to use platform,” said Gordon Calhoun, partner and chair of the electronic discovery, information management & compliance practice at Lewis, Brisbois, Bisgaard & Smith LLP. “DISCO is poised to impact legal technology dramatically.” 

“DISCO delivers unprecedented transparency for corporate legal departments in a solution that outside counsel are also delighted to adopt,” said Colin Ward, associate general counsel at communications company ViaSat, Inc. “DISCO’s approach to search, review, workflow, and metrics is excellent and incredibly simple to use.”  

Aaron Clark, managing director at The Stephens Group LLC, will join DISCO’s board of directors. “We are excited to partner with DISCO in realizing its vision of a comprehensive technology platform for the practice of law,” Clark said. “DISCO uniquely combines world-class engineering with a deep, company-wide understanding of what lawyers do and how to make lawyers successful. There is an opportunity here to build a large and enduring technology company in the legal vertical.” 

Revenue grew 145% year over year between June 2015 and June 2016. “I am delighted by this continued validation of our approach to legal technology,” said CEO Kiwi Camara. “What excites us at DISCO is our mission of using technology to improve legal outcomes and the experience of practicing law for both lawyers and their clients. We are in the middle of a technological revolution in the way legal services are delivered. I think there’s no more exciting place one could be right now in the law than at the heart of that revolution.”