Legal Tech Funding, Q3 2023
Every disclosed legal tech round from July 1 to September 30, 2023, from the Legal Tech Circle Funding Tracker. Free to read and cite.
By The Circle DeskData updated Nov 12, 2026
What Happened in Q3 2023
The quarter at a glance, written from the tracker's data.
- The headline. Legal tech companies raised $81.2M across 8 tracked rounds in Q3 2023, down 46% from Q2 2023 and up 339% from Q3 2022.
- The biggest round. Darrow's $35M Series B, led by Georgian, was the largest of the quarter. The five biggest rounds took 87% of all disclosed dollars.
- Where the money went. Litigation & eDiscovery took the largest share, 43% of dollars across 1 round. That is up from 11% over the previous four quarters.
- Round sizes. The median disclosed round was $6.3M, compared with $11M the quarter before. Seed and Series A made up 75% of rounds.
- Most active investor. Y Combinator took part in 2 rounds, leading 1.
- Geography. US companies took 51% of disclosed dollars, the UK and Europe 6%, and the rest of the world 43%.
- New names. 4 companies announced their first tracked round this quarter.
The Last Eight Quarters
Disclosed dollars raised. Q3 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 |
|---|---|---|---|---|---|---|
| Darrow | Series B | $35M | eDiscovery | Georgian | Sep 19 | Source |
| Trellis | Series B | $15M | Research & Analytics | Top Tier Capital Partners | Sep 5 | Source |
| The Contract Network | Seed | $8M | CLM | Tusk Venture Partners | Aug 17 | Source |
| Tangibly | Seed | $6.5M | IP | Madrona Venture Group | Jul 13 | Source |
| Paxton | Seed | $6M | GenAI & Drafting | WVV Capital | Sep 19 | Source |
| Legatics | Post-Series A | $5.1M£4M | Practice Mgmt | FINTOP Capital | Aug 15 | Source |
| BriefCatch | Seed | $3.5M | GenAI & Drafting | TIA Ventures | Aug 1 | Source |
| Hona | Seed | $2.1M | Intake & Portals | Y Combinator, Ludlow Ventures, Soma Capital | Jul 10 | 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 | 5 | $26.1M | $6M |
| Series A | 1 | $5.1M | $5.1M |
| Series B | 2 | $50M | $25M |
Most Active Investors
Rounds they led or joined this quarter.
- 1Y Combinator2 rounds · led 1
- 2WVV Capital1 round · led 1
- 3Georgian1 round · led 1
- 4Top Tier Capital Partners1 round · led 1
- 5Tusk Venture Partners1 round · led 1
- 6FINTOP Capital1 round · led 1
- 7TIA Ventures1 round · led 1
- 8Madrona Venture Group1 round · led 1
- 9Ludlow Ventures1 round · led 1
- 10Soma Capital1 round · led 1
Quick Answers
- How much did legal tech raise in Q3 2023?
- Legal tech companies raised $81.2M in disclosed funding across 8 rounds in Q3 2023, according to the Legal Tech Circle Funding Tracker.
- What was the largest legal tech funding round in Q3 2023?
- Darrow raised $35M in a Series B, led by Georgian, announced September 19, 2023.
- Which legal tech category raised the most in Q3 2023?
- Litigation & eDiscovery, with $35M across 1 rounds, 43% of the quarter's disclosed dollars.
- Who were the most active legal tech investors in Q3 2023?
- Y Combinator (2), WVV Capital (1), Georgian (1), Top Tier Capital Partners (1), Tusk Venture Partners (1).
- What was the median legal tech round size in Q3 2023?
- $6.3M across 8 rounds with disclosed amounts.
Cite this report
Legal Tech Circle. "Legal Tech Funding Report: Q3 2023." October 2023. https://legaltechcircle.com/market-signals/reports/funding-2023-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.