Everlaw, the cloud-based ediscovery and litigation platform, today announced a $25 million Series B funding round. New investor Menlo Ventures led the round, with continued participation from Andreessen Horowitz. This brings Everlaw’s total funding to over $34 million.
Everlaw will use the new funds to accelerate development of its collaborative litigation software, which features blink-speed document search, AI-powered analytics, and unique tools for multi-matter discovery, depositions, and case-building. Everlaw saves attorneys and review teams valuable time in discovering key documents, collaborating internally and with third party firms, and litigation preparation.
Last year, the company more than doubled revenue, adding new customers that include Zenefits; Benesch, Friedlander, Coplan & Aronoff LLP; Hanson Bridgett LLP; Macfarlanes LLP; and McDonald Carano LLP. Everlaw is now used by all 50 U.S. state attorneys general, in-house counsels at major organizations, and 8 out of the top 10 class-action law firms.
“We’re putting to bed the myth that lawyers don’t care about technology,” said AJ Shankar, co-founder and CEO of Everlaw. “Lawyers want great software as much as anyone, and they need it more than ever. They’re managing an explosion of data in litigation—not just email, but text messages, instant messages, social media, and corporate messaging tools like Slack. They’re grappling with new regulations like GDPR and keeping their clients’ data safe from cyber attack. And of course they’re trying to build rock-solid cases.”
“Everlaw helps attorneys do all that by combining the power and reliability of the cloud with advanced analytics, time-saving features, and a streamlined, modern design,” Shankar continued. “We handle the complexity of discovery and analysis behind the scenes so lawyers can focus on the strategic parts of their job they do best—and enjoy most.”
“As active investors in vertical SaaS, Menlo sees that the legal space is a large attractive vertical, still in the early innings when it comes to embracing the benefits of cloud software,” said Tyler Sosin, Partner at Menlo Ventures. “We invested in Everlaw because we’re sold on AJ and his team; they bring unique product sensibilities and technical capabilities to solve challenges within ediscovery and downstream workflows. The company’s software is powerful, easy to use, and loved by customers—and it will only improve from here. We think there’s opportunity not just to take over the existing market, but to expand it in ways not previously possible.”
“Everlaw is one of the most dynamic startups I have ever encountered,” said Neal Katyal, who served as Acting Solicitor General of the United States under President Obama and is an investor in Everlaw. “I’ve been consistently impressed with AJ’s vision and his team’s ability to grasp what lawyers need. Everlaw helps lawyers identify critical documents in mountains of data. But it also helps them use those documents to collaborate and craft compelling arguments.”
“Everlaw’s continuing platform improvement and service commitment to our team’s success has made them a partner we can rely on,” said Kelly Wulff, Vice President of Legal at Zenefits.
Everlaw rapidly updates its platform based on customer feedback. In the last year, Everlaw delivered 11 major releases in response to customer input, including enhanced visualization of datasets, audio and video transcription, native spreadsheet redactions, and support for Slack and other popular chat formats. Everlaw’s litigation platform supports dynamic and user-friendly collaboration and secure access from any device.
Everlaw was named one of Inc. Magazine’s Best Workplaces in May 2018, highlighting its ongoing ability to execute, not only at building the best software for the legal sector but also at crafting a strong and enduring culture.