New round of funding led by Bessemer Venture Partners will be used to accelerate R&D, scale out the U.S. go-to-market team, and expand into Asia Pacific, Europe, and Latin America
Houston, TX – CS Disco Inc., the legal technology company that makes the market-leading cloud ediscovery solution DISCO, today announced a $20M equity financing. Bessemer Venture Partners led the round, with participation from LiveOak Venture Partners and The Stephens Group. All three were existing DISCO investors. This brings the total investment in DISCO to more than $50M.
“This financing caps a year of explosive growth for DISCO,” said founder and CEO Kiwi Camara. “In 2017, we grew revenue by 2.7x overall and by more than 3.3x in the AmLaw 200 segment. Our accelerating growth is driven by both more and more firms switching to DISCO firm-wide and the tremendous loyalty of our existing customers, who grow their business with us every year.”
In 2017, DISCO established sales and services operations in all major U.S. markets. DISCO also launched its enterprise program to sell to corporate legal departments, a plaintiff-side practice that is already supporting counsel in some of the largest class- and mass-actions in the U.S., and DISCO managed review, which brings unprecedented accuracy and speed to the process of finding evidence, powered by DISCO AI.
“It has been amazing to watch the growth of DISCO over the last three years since our initial investment,” said Bob Goodman, DISCO board member, and partner at Bessemer Venture Partners. “When the company began looking for additional funding to accelerate growth in 2018, we were thrilled to have the opportunity to double down on our investment.”
In 2018, DISCO plans to more than double its engineering and product team to continue investing in the ediscovery solution DISCO Review while also beginning to expand the DISCO platform beyond ediscovery. DISCO plans to scale up its U.S. go-to-market teams selling to litigation boutiques, the AmLaw 200, and corporate legal departments and launch global operations in Asia Pacific, Europe, and Latin America.
“The market is eager for a mature alternative to legacy technology and service offerings,” said CMO Neil Etheridge. “We are delighted to see law firms and legal departments embracing DISCO as their ediscovery upgrade and getting excited about our long-term vision of improving legal outcomes by empowering great lawyers through great legal technology.”
For more information, or to learn more about DISCO contact us today.
As the leading provider of Software as a Service solutions developed by and for lawyers and legal professionals, DISCO partners with law firms and corporate legal departments to improve legal outcomes by building and deploying great legal technology. More than 400 law firms, including over 75 of the AmLaw 200, have embraced DISCO as their first choice for innovative technologies that help great lawyers and their teams secure justice and win cases.
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