The LegalTech Fund backed 12 rounds since Q4 2024, the most in our tracker, and Y Combinator 10. Sequoia and Lightspeed led some of the largest deals.
Which investors are writing the most checks in legal tech? Across the eight quarters from Q4 2024 through Q3 2026, plus Q4 2026 so far, the Legal Tech Circle funding tracker logs 188 equity rounds and shows a clear split. Specialist and accelerator investors lead on the number of deals, while a handful of large venture firms lead the biggest rounds.
The LegalTech Fund appears in 12 equity rounds in that window, more than any other investor. Y Combinator appears in 10, Sequoia Capital in nine and Lightspeed Venture Partners in eight.
A caveat before the details. The tracker records each round’s lead investor where one is named, but it lists other participants for 133 of the 188 rounds in this window. Participation counts are therefore a floor, not a full census.
Who Invests Most in Legal Tech?
The LegalTech Fund’s 12 rounds are mostly early stage. Ten were pre-seed, seed or Series A, including Noetica AI’s $22 million Series A in October 2024, seeds for Entegrata, wexler.ai, Truth Systems and Antidote, and Jusfy’s $15 million Series A in July 2026. It led one, Newcode’s $6.5 million seed in March 2026. Its largest deal in the window was Orbital’s $60 million Series B in January 2026.
Y Combinator did not lead any of its 10 rounds; the tracker lists it as a participant in each. They include Legora’s Series B, Series C and Series D, plus Solve Intelligence’s $40 million Series B and MarqVision’s $48 million Series B.
Sequoia’s nine rounds lean toward the top of the market. It led Harvey’s $300 million Series D in February 2025, co-led Harvey’s $200 million growth round in March 2026 and joined Harvey’s Series E, Series F and Series H. It also led Enter’s $35 million Series A, Sandstone’s $10 million seed and Finch Legal’s seed, and joined Enter’s $100 million Series B.
Lightspeed’s eight rounds run from seed to the largest round of the period. It co-led Harvey’s $550 million Series H in September 2026, led Sandstone’s $30 million Series A and Noetica AI’s Series A, and joined Truth Systems’s seed, both of Eve’s rounds and both of EvenUp’s.
Investors Who Keep Coming Back
Several firms are backing the same company more than once. Index Ventures led Wordsmith’s $25 million Series A and its $70 million Series B, then joined the extension, and it led Ankar’s seed before joining its Series A. Bessemer Venture Partners joined EvenUp’s Series D and led its $150 million Series E, and led Legora’s $150 million Series C before joining its Series D. Andreessen Horowitz led Eve’s Series A and joined its Series B, and led Harvey’s $160 million Series F before joining its growth round.
Thomson Reuters Ventures is the most visible strategic investor in the window, with four rounds: Supio’s $60 million Series B, Solve Intelligence’s $40 million Series B, FirmPilot’s $22 million Series A-1 and Jusfy’s Series A.
What the Pattern Tells Us
Legal tech now has two investor tiers. Specialist and accelerator investors, led by The LegalTech Fund and Y Combinator, supply much of the early capital and keep following on. Large generalist firms concentrate on a small set of companies they back repeatedly at rising valuations. That matches what we found in our analysis of repeat raisers, where 27 companies took 60.4% of the money over eight quarters.
What It Means for Buyers and Founders
For founders, the list is a practical map. Early stage companies have a short list of specialists who know the market, and an investor that has already backed a competitor may be less likely to back you. For later stage companies, the large firms on this list have shown they will follow on quickly when growth is there.
For buyers, investor names are a weak signal on their own, but repeated backing from the same firm usually means a vendor has the capital to keep building. It is still worth asking any vendor about runway and ownership plans.
Common Questions
Who is the most active legal tech investor?
On the tracker’s count, The LegalTech Fund, with 12 rounds from Q4 2024 through October 2026.
Which investors back Harvey?
In this window, Harvey’s rounds were led or co-led by Sequoia, Kleiner Perkins and Coatue, EQT Growth, Andreessen Horowitz, GIC, Diffusion, Lightspeed and Teachers’ Venture Growth.
Do strategic companies invest in legal tech startups?
Yes. Thomson Reuters Ventures joined four rounds in the window.
Are these counts complete?
No. Other participants are listed for 133 of 188 rounds, so counts are a minimum.
*Updated Oct 25, 2026 with corrected tracker data: investor round counts.*
In this story
See every round in the Funding Tracker