Legal Tech Funding, Q4 2020
Every disclosed legal tech round from October 1 to December 31, 2020, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 12, 2026
What Happened in Q4 2020
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $106M across 7 tracked rounds in Q4 2020, up 25% from Q3 2020 and up 316% from Q4 2019.
- The biggest round. DISCO's $60M Undisclosed, led by Georgian, was the largest of the quarter. The five biggest rounds took 96% of all disclosed dollars.
- Where the money went. Litigation & eDiscovery took the largest share, 57% of dollars across 1 round. That is up from 20% over the previous four quarters.
- Round sizes. The median disclosed round was $4.5M, compared with $4.4M the quarter before. Seed and Series A made up 29% of rounds.
- Geography. US companies took 72% of disclosed dollars, the UK and Europe 28%, and the rest of the world 0%.
- New names. 4 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q4 2020 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 |
|---|---|---|---|---|---|---|
| DISCO | Undisclosed | $60M | eDiscovery | Georgian | Oct 15 | Source |
| Brightflag | Undisclosed | $28M | Legal Ops & Spend | One Peak Partners | Dec 9 | Source |
| Priori Legal | Series A | $6.3M | Legal Ops & Spend | Oct 28 | Source | |
| Reynen Court | Undisclosed | $4.5M | Knowledge Mgmt | Ventech | Oct 28 | Source |
| BlackBoiler | Undisclosed | $3.2M | GenAI & Drafting | Oct 14 | Source | |
| Lawmatics | Seed | $2.5M | Intake & Portals | Eniac Ventures, Forefront Venture Partners | Oct 16 | Source |
| Summize | Undisclosed | $1.3M£1M | CLM | NPIF - Maven Equity Finance | Dec 9 | 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 | 1 | $2.5M | $2.5M |
| Series A | 1 | $6.3M | $6.3M |
| Other and undisclosed | 5 | $97M | $4.5M |
Most Active Investors
Rounds they led or joined this quarter.
Quick Answers
- How much did legal tech raise in Q4 2020?
- Legal tech companies raised $106M in disclosed funding across 7 rounds in Q4 2020, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q4 2020?
- DISCO raised $60M in a Undisclosed, led by Georgian, announced October 15, 2020.
- Which legal tech category raised the most in Q4 2020?
- Litigation & eDiscovery, with $60M across 1 rounds, 57% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q4 2020?
- NPIF - Maven Equity Finance (1), One Peak Partners (1), Ventech (1), Eniac Ventures (1), Forefront Venture Partners (1).
- What was the median legal tech round size in Q4 2020?
- $4.5M across 7 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q4 2020." January 2021. https://legaltechcircle.com/market-signals/reports/funding-2020-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.