Legal Tech Funding, Q4 2019
Every disclosed legal tech round from October 1 to December 31, 2019, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 12, 2026
What Happened in Q4 2019
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $25.4M across 4 tracked rounds in Q4 2019, down 95% from Q3 2019 and up 238% from Q4 2018.
- The biggest round. Evisort's $15M Undisclosed, led by Vertex Ventures and M12, was the largest of the quarter. The five biggest rounds took 100% of all disclosed dollars.
- Where the money went. CLM Systems & Workflows took the largest share, 74% of dollars across 2 rounds. That is up from 30% over the previous four quarters.
- Round sizes. The median disclosed round was $4.9M, compared with $30M the quarter before. Seed and Series A made up 75% of rounds.
- Geography. US companies took 59% of disclosed dollars, the UK and Europe 39%, and the rest of the world 2%.
- New names. 3 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q4 2019 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.
| Company | Stage | Amount | Category | Lead | Date | Source |
|---|---|---|---|---|---|---|
| Evisort | Undisclosed | $15M | CLM | Vertex Ventures, Microsoft Corporation’s M12 Ventures | Dec 19 | Source |
| BRYTER | Seed | $6M | Doc Automation | Accel, Notion Capital | Nov 12 | Source |
| Contractbook | Seed | $3.9M€3.5M | CLM | Gradient Ventures | Nov 19 | Source |
| Spellbook | Pre-Seed | $567KC$750K | GenAI & Drafting | Dec 11 | Source |
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 | 3 | $10.4M | $3.9M |
| Other and undisclosed | 1 | $15M | $15M |
Most Active Investors
Rounds they led or joined this quarter.
Quick Answers
- How much did legal tech raise in Q4 2019?
- Legal tech companies raised $25.4M in disclosed funding across 4 rounds in Q4 2019, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q4 2019?
- Evisort raised $15M in a Undisclosed, led by Vertex Ventures, Microsoft Corporation’s M12 Ventures, announced December 19, 2019.
- Which legal tech category raised the most in Q4 2019?
- CLM Systems & Workflows, with $18.9M across 2 rounds, 74% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q4 2019?
- Vertex Ventures (1), M12 (1), Gradient Ventures (1), Accel (1), Notion Capital (1).
- What was the median legal tech round size in Q4 2019?
- $4.9M across 4 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q4 2019." January 2020. https://legaltechcircle.com/market-signals/reports/funding-2019-q4/
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.