Legal Tech Funding, Q4 2021
Every disclosed legal tech round from October 1 to December 31, 2021, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 12, 2026
What Happened in Q4 2021
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $479M across 10 tracked rounds in Q4 2021, up 72% from Q3 2021 and up 353% from Q4 2020.
- The biggest round. Everlaw's $202M Series D, led by TPG Growth, was the largest of the quarter. The five biggest rounds took 95% of all disclosed dollars.
- Where the money went. Litigation & eDiscovery took the largest share, 47% of dollars across 3 rounds. That is up from 7% over the previous four quarters.
- Round sizes. The median disclosed round was $12.1M, compared with $10.3M the quarter before. Seed and Series A made up 50% of rounds, and 2 rounds of $100M or more accounted for 84% of dollars.
- Most active investor. Revel took part in 2 rounds.
- Geography. US companies took 94% of disclosed dollars, the UK and Europe 2%, and the rest of the world 4%.
- New names. 8 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q4 2021 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 |
|---|---|---|---|---|---|---|
| Everlaw | Series D | $202M | eDiscovery | TPG Growth | Nov 2 | Source |
| Ontra | Series B | $200M | CLM | Blackstone Growth | Oct 27 | Source |
| Darrow | Series A | $20M | eDiscovery | NFX | Nov 7 | Source |
| PERSUIT | Series A | $20M | Legal Ops & Spend | OpenView | Oct 7 | Source |
| Trellis | Series A | $14.1M | Research & Analytics | Headline | Oct 27 | Source |
| Lawmatics | Series A | $10M | Intake & Portals | Ankona Capital | Dec 15 | Source |
| PacerPro | Series C | $5M | eDiscovery | Berkley Capital | Oct 7 | Source |
| Robin AI | Seed extension | $3.3M£2.5M | GenAI & Drafting | SoftBank Emerge | Dec 9 | Source |
| CourtCorrect | Undisclosed | $2.7M£2M | Intake & Portals | Nov 16 | Source | |
| Bigle Legal | Undisclosed | $2.3M€2M | Doc Automation | Adara Ventures | Nov 29 | 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 | $3.3M | $3.3M |
| Series A | 4 | $64.1M | $17.1M |
| Series B | 1 | $200M | $200M |
| Series C | 1 | $5M | $5M |
| Late stage | 1 | $202M | $202M |
| Other and undisclosed | 2 | $4.9M | $2.5M |
Most Active Investors
Rounds they led or joined this quarter.
Quick Answers
- How much did legal tech raise in Q4 2021?
- Legal tech companies raised $479M in disclosed funding across 10 rounds in Q4 2021, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q4 2021?
- Everlaw raised $202M in a Series D, led by TPG Growth, announced November 2, 2021.
- Which legal tech category raised the most in Q4 2021?
- Litigation & eDiscovery, with $227M across 3 rounds, 47% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q4 2021?
- Revel (2), Ankona Capital (1), SoftBank Emerge (1), Adara Ventures (1), NFX (1).
- What was the median legal tech round size in Q4 2021?
- $12.1M across 10 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q4 2021." January 2022. https://legaltechcircle.com/market-signals/reports/funding-2021-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.