Legal Tech Funding, Q3 2016
Every disclosed legal tech round from July 1 to September 30, 2016, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 11, 2026
What Happened in Q3 2016
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $43.8M across 4 tracked rounds in Q3 2016, up 2404% from Q2 2016.
- The biggest round. DISCO's $18.6M Series C, led by The Stephens Group, was the largest of the quarter. The five biggest rounds took 100% of all disclosed dollars.
- Where the money went. Litigation & eDiscovery took the largest share, 65% of dollars across 2 rounds. CLM Systems & Workflows gained the most ground: 28% of dollars, against 0% over the previous four quarters.
- Round sizes. The median disclosed round was $11.1M, compared with $1.8M the quarter before. Seed and Series A made up 50% of rounds.
- Geography. US companies took 65% of disclosed dollars, the UK and Europe 7%, and the rest of the world 28%.
- New names. 2 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q3 2016 highlighted.
Month by Month
Dollars and rounds in each month of the quarter.
By Region
Dollars raised this quarter, by headquarters.
US vs Europe, by Quarter
The last eight quarters. Europe includes the UK.
The Ten Biggest Rounds
Disclosed amounts. Click a company for its full history.
By Category
Share of the quarter's dollars, against the previous four quarters.
By Stage
Rounds, dollars and the median round at each stage.
| Stage | Rounds | Raised | Median |
|---|---|---|---|
| Pre-seed and Seed | 1 | $3M | $3M |
| Series A | 1 | $10M | $10M |
| Series B | 1 | $12.3M | $12.3M |
| Series C | 1 | $18.6M | $18.6M |
Most Active Investors
Rounds they led or joined this quarter.
Quick Answers
- How much did legal tech raise in Q3 2016?
- Legal tech companies raised $43.8M in disclosed funding across 4 rounds in Q3 2016, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q3 2016?
- DISCO raised $18.6M in a Series C, led by The Stephens Group, announced August 3, 2016.
- Which legal tech category raised the most in Q3 2016?
- Litigation & eDiscovery, with $28.6M across 2 rounds, 65% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q3 2016?
- Invoke Capital (1), OpenView (1), The Stephens Group (1), Sequoia India (1), Storm Ventures (1).
- What was the median legal tech round size in Q3 2016?
- $11.1M across 4 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q3 2016." October 2016. https://legaltechcircle.com/market-signals/reports/funding-2016-q3/
How we count
Rounds come from public announcements, each linked to its source on the Funding Tracker. Equity rounds only: debt, acquisitions and IPOs are left out. A round with no disclosed amount counts toward rounds but not dollars. Figures can change if a round is corrected or announced late. Spot something missing? Tell us. Full methodology.