Everlaw Secures USD 62 Million in Series C Round of Financing

By StartUp City | Friday, March 13, 2020

The digital universe has grown exponentially over the last few years and is expected to reach 44 trillion gigabytes this year. The growth in the volume of data has led to e-discovery workloads becoming more demanding, litigators and investigators are struggling with the cost and complexity of mining through massive troves of documents

FREMONT, CA: Cloud-based e-discovery and litigation platform Everlaw raised USD 62 million in Series C Round of financing led by new investor CapitalG and existing investor Menlo Ventures, with participation from existing investors Andreessen Horowitz and K9 Ventures. The new financing round takes Everlaw's total raised capital to USD 96 million. Jesse Wedler, partner at CapitalG, will join the company's board of directors as part of the funding. Also, Everlaw has achieved a FedRAMP Authority to Operate at the moderate impact level with support from the U.S. Department of Justice (DOJ), enabling the DOJ to securely implement the platform for ediscovery, collaboration, and document review for productions, investigations, and litigation.

"The stakes for uncovering the truth and upholding justice have never been higher. Yet the process to find this information is incredibly challenging, and we want to give teams the tools they need to find the needles in the haystack - those critical pieces of evidence that change the trajectory of their cases," said AJ Shankar, founder, and CEO of Everlaw. "This investment will help us further scale growth, from recruiting efforts to continue international expansion and investing in new features so organizations around the globe can use our truth-finding machine to advance justice and the rule of law."

The digital universe has grown exponentially over the last few years and is expected to reach 44 trillion gigabytes this year. The growth in the volume of data has led to e-discovery workloads becoming more demanding, litigators and investigators are struggling with the cost and complexity of mining through massive troves of documents. A majority of Everlaw's success is due to the momentum it has gained within a market that is expected to grow into a USD 17 billion industry by 2023. The company is the first cloud-native software to earn a FedRAMP Moderate Authority to Operate with support from the DOJ, an achievement that reflects Everlaw's commitment to security.

"Everlaw is modernizing the way litigators and investigators bring evidence to light," said Jesse Wedler, partner at CapitalG. "Technology is well-suited to address today's data overload problem, and with their world-class engineering team and cloud-native product, Everlaw is enabling litigation teams to focus on truth discovery and leave the manual work to the machines."

See also: Top Cloud Solution Companies in APAC

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