6 Biggest Legal Tech Investments of 2022
While there were fewer nine-figure investments this year, many companies are likely going into the new year with a healthy amount of capital.
December 27, 2022 at 11:00 AM
2 minute read
Legal TechnologyWhile this year was marked by economic volatility and dropping valuations for many Big Tech companies, several companies in the legal tech space still saw record-breaking investment, some of which hit nine figures. To be sure, compared to last year, there were fewer nine-figure investments, and with lower overall amounts. What's more, while the biggest investments in 2021 were announced throughout the year, in 2022, all came in within the first six months—a likely sign of how the economic climate changed in the second half of the year. Still, going into 2023, it's likely many companies have a healthy amount of capital to help them weather any further economic headwinds. Above, we look at the six largest legal tech investments of the year, as reported on by Legaltech News. Note: this list does not include Exterro, which completed a recapitalization and secured additional equity capital in July, in a financing round that Exterro CEO and President Bobby Balachandran valued at "over a billion dollars." It's not known, however how much the company raised in equity financing outside of its recapitalization. For a full list of all the legal tech investments LTN covered this year, please see our Legal Tech Investment Tracker page.
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