Legal Tech Funding, Q1 2023
Every disclosed legal tech round from January 1 to March 31, 2023, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 13, 2026
What Happened in Q1 2023
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $118M across 8 tracked rounds in Q1 2023, up 164% from Q4 2022 and down 62% from Q1 2022.
- The biggest round. ContractSafe's $27.5M Growth, led by Five Elms Capital, was the largest of the quarter. The five biggest rounds took 85% of all disclosed dollars.
- Where the money went. CLM Systems & Workflows took the largest share, 76% of dollars across 4 rounds. Intellectual Property gained the most ground: 9% of dollars, against 0% over the previous four quarters.
- Round sizes. The median disclosed round was $10.7M, compared with $4.3M the quarter before. Seed and Series A made up 50% of rounds.
- Geography. US companies took 67% of disclosed dollars, the UK and Europe 30%, and the rest of the world 3%.
- New names. 3 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q1 2023 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 |
|---|---|---|---|---|---|---|
| ContractSafe | Growth | $27.5M | CLM | Five Elms Capital | Jan 18 | Source |
| SpotDraft | Series A | $26M | CLM | Premji Invest | Mar 2 | Source |
| SirionLabs | Series D extension | $25M | CLM | Brookfield Growth | Jan 4 | Source |
| IPRally | Series A | $10.8M€10M | IP | Endeit Capital | Mar 21 | Source |
| Robin AI | Series A | $10.5M | CLM | Plural | Feb 27 | Source |
| Henchman | Series A | $7M€6.5M | Knowledge Mgmt | Adjacent VC, Acton Capital | Mar 2 | Source |
| Apperio | Growth | $7M | Legal Ops & Spend | Molten Ventures | Jan 10 | Source |
| Nexl | Undisclosed | $4M | Practice Mgmt | EVP | Mar 13 | 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 |
|---|---|---|---|
| Series A | 4 | $54.3M | $10.7M |
| Late stage | 3 | $59.5M | $25M |
| Other and undisclosed | 1 | $4M | $4M |
Most Active Investors
Rounds they led or joined this quarter.
Quick Answers
- How much did legal tech raise in Q1 2023?
- Legal tech companies raised $118M in disclosed funding across 8 rounds in Q1 2023, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q1 2023?
- ContractSafe raised $27.5M in a Growth, led by Five Elms Capital, announced January 18, 2023.
- Which legal tech category raised the most in Q1 2023?
- CLM Systems & Workflows, with $89M across 4 rounds, 76% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q1 2023?
- Endeit Capital (1), EVP (1), Premji Invest (1), Adjacent VC (1), Acton Capital (1).
- What was the median legal tech round size in Q1 2023?
- $10.7M across 8 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q1 2023." April 2023. https://legaltechcircle.com/market-signals/reports/funding-2023-q1/
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.