SALT LAKE CITY — Filevine, a leader in legal technology solutions, has raised an impressive $400 million through an all-equity financing round, showcasing significant investor confidence in the legal tech sector and Filevine’s increasing market presence.
This funding follows a robust 15-month period during which Filevine successfully closed two funding rounds. The initial round was spearheaded by Insight Partners, while a subsequent larger investment was jointly led by Accel and Halo Fund alongside Insight Partners, with additional contributions from existing investors such as Meritech, Stepstone, Run Ventures, and Album Ventures.
The newly acquired capital will empower Filevine to enhance its product offerings that are already exhibiting strong growth acceleration. It will also facilitate the expansion of the company’s artificial intelligence (AI) capabilities and bolster its go-to-market strategy.
Leading investors with extensive expertise in software were quick to recognize the favorable product-market momentum, rapid AI adoption, and a resilient business model that has developed over the last decade. This funding further establishes Filevine as a pioneering legal technology platform that seamlessly integrates AI into the operating systems utilized by legal teams on a daily basis.
Unlike fragmented solutions that create silos and often yield incomplete or inaccurate insights, Filevine provides a singular, cohesive AI platform that equips legal teams with the scale, data, and connectivity necessary to drive real business outcomes.
No other company in the legal tech realm effectively merges disparate elements like emails, text messages, deadlines, contacts, documents, deposition videos (and transcripts), phone logs, notes, tasks, audit logs, intake notes, and calendars to deliver case-critical and trustworthy intelligence.
Filevine’s distinct advantage lies in the combination of context and user adoption, as AI is deeply embedded in everyday legal workflows and is already producing measurable results.
In fact, Filevine users upload more than 20 million pages of documents daily, highlighting the platform’s impressive scale and reliability.
The company has experienced remarkable growth since its establishment, amassing nearly 6,000 customers and 100,000 legal professionals spanning boutique law firms, government agencies, and Fortune 500 companies.
Filevine’s longstanding commitment to customer satisfaction is evident in its remarkable gross retention rate of over 96% for Filevine Core, its flagship product, along with industry-leading customer retention and a Net Dollar Retention rate exceeding 120%.
The proceeds from this funding round will be directed towards solidifying Filevine’s leadership in serving litigators, attracting top-tier talent, and expanding its footprint within the enterprise and government sectors.
With its vast scale, proprietary data, and advanced AI infrastructure, the company is poised to shape the future landscape of the legal technology industry.
As Filevine founder and CEO Ryan Anderson stated, “Some early versions of legal AI forced lawyers to work in two systems: their systems of record and their AI tools.
But that framework isn’t what the market demands. Filevine embeds intelligence into the DNA of daily legal work, with the first true legal operating intelligence system. Every task a legal professional completes should be augmented with intelligence.”
Rebecca Liu-Doyle, Managing Director at Insight Partners, remarked, “Filevine has proven its ability to sustain tremendous growth while simultaneously capturing new opportunities and markets.
We at Insight are highly impressed with Ryan and team, and we’re excited to double down with Filevine as they continue scaling into this next chapter.”
John Locke, Partner at Accel, emphasized, “Filevine is tackling a problem that others are missing by developing a system of record where AI is seamlessly woven into every function, and scalable for small firms to enterprise operations.
The company’s track record speaks for itself: consistent revenue growth, exceptional client retention, and a product that legal teams desperately need. We’re excited to back Filevine as they lead the legal tech space.”
Ryan Smith, Co-founder of Halo Fund, noted that during their due diligence, they observed that Filevine’s AI products were experiencing intense daily usage, with over 20% week-over-week growth in their cross-platform AI-chat tool.
With around 130% year-over-year growth in AI revenue, users have reported deriving significant value from Filevine’s integrated AI solutions.
For more information about Filevine’s advanced Legal Operating Intelligence System, which aims to replace disconnected systems and eradicate inadequate data sets for legal teams, visit filevine.com.
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