What We Track
The Legal Tech Circle Funding Tracker records every disclosed equity funding round raised by a legal technology company, from 2012 to today. It currently holds 504 rounds across 309 companies, worth $14.16B in disclosed funding. Alongside the rounds, it lists 9 debt facilities and 164 acquisitions, mergers and IPOs, which are shown but never added to the totals.
Every row links to the public source we used. The data is free to read, filter, download and cite.
What Counts as Legal Tech
A company is in scope when it sells software or data products to legal professionals or legal teams: law firms, in-house legal departments, legal operations, courts, IP teams, and compliance or eDiscovery work done for a legal function.
We leave out:
- Law firms, including firms that describe themselves as AI-native.
- Consumer legal services and lawyer marketplaces sold to the public.
- General-purpose software where legal use is incidental, such as e-signature, general privacy platforms, or document AI sold mainly to banks and funds.
- Legal staffing and litigation funding.
Borderline companies are reviewed one by one, and the reason for each decision is recorded. If a company changes what it sells, its later rounds are judged on what it sells at that time.
What Counts as a Round
- One row per announced round. An extension announced separately from the original round is its own row.
- Equity only in the totals. Priced rounds, SAFEs and convertible notes from investors count. Loans, credit lines and venture debt from banks are listed as debt and excluded from every total.
- Acquisitions are not funding. Buyouts, majority stakes, mergers, SPAC deals and IPOs are listed on the Exits tab and never counted as rounds, even when the announcement calls them a "Series".
- Undisclosed amounts stay undisclosed. A round with no published amount is listed and counted as a round, but adds nothing to the dollar total. 6 rounds are currently in this group. We never estimate, and we do not use database estimates in place of a disclosed figure.
Dates, Amounts and Currencies
- Date is the day the round was first announced publicly, not the day it closed. If a round closed months earlier but was announced later, it is dated by the announcement.
- Amount is the figure the company or its investors announced. "Up to" amounts are recorded as announced and noted.
- Currency. Rounds announced in another currency keep their original amount and currency, shown next to the dollar figure, and are converted to US dollars at the reference exchange rate on the announcement date.
- Location is the company's headquarters at the time of the round. Regions are United States, Canada, Latin America, United Kingdom, Europe, Asia Pacific, and Middle East and Africa.
- Category is the company's main product area, one of our 11 categories, based on how it describes and sells its product.
Where the Data Comes From
Every row needs a source we opened and read. In order of preference:
- The company's own announcement or press release.
- The lead investor's announcement.
- Major news and trade press: Reuters, Bloomberg, TechCrunch, LawSites, Artificial Lawyer, Legal IT Insider, Law.com, Business Wire, PR Newswire and similar.
- Regional business press for companies outside the US.
Funding databases and aggregators can point us to a round, but are never enough on their own to add it. When sources disagree, we use the company's own announcement.
How We Check It
New rounds are added as they are announced and checked against their source before they go live. In October 2026 we re-verified every round in the tracker against its original source, corrected dates, stages, investors and currencies where needed, removed rows that did not meet the rules above, and added the rounds we found missing back to 2012. A separate reviewer then re-checked a random sample of the changes from scratch.
Numbers on this site update automatically when the data changes. Our stories cite the tracker as of the day they were written.
Why Our Totals Can Differ From Others
Funding totals for legal tech vary widely between sources. The most common reasons:
- Debt and acquisitions. Some counts add credit facilities, buyouts or IPO proceeds to funding totals. We never do.
- Scope. Some include law firms, consumer legal services or general software with legal customers. We do not.
- Dates. Some date rounds by close or by when a database recorded them. We use the announcement date, which can move a round into a different quarter.
- Estimates. Some fill in undisclosed amounts with estimates. We leave them undisclosed.
So our totals are usually lower and our round counts can be higher than other published figures. Every row is public, so you can check any number we report.
Known Limits
- Small seed and pre-seed rounds are the hardest to find, especially outside the US, and some surface months later. Recent quarters are most likely to rise as late announcements appear.
- Many rounds disclose no amount, so dollar totals understate the real flow of capital.
- Other investors are listed where the announcement names them, so investor counts are a minimum.
Corrections
If you see a round that is missing, wrong or out of scope, tell us with a link to the announcement. We check every report, fix confirmed errors quickly, and note significant revisions in our coverage.
Using and Citing the Data
The tracker is free to use with credit and a link. You can:
- Explore and filter it by year, stage, category, region and investor.
- Download every round as CSV.
- Embed live charts from the tracker on your own site.
- Read the quarterly funding reports, each with its own citation.
Suggested citation: Legal Tech Circle Funding Tracker, legaltechcircle.com/market-signals/funding-tracker/, accessed November 10, 2026.