Everlaw Valuation, Funding & Investors

Everlaw is valued at $2B as of November 2021.

Last Everlaw valuation

$2B

Series D · Nov 2021

Last Everlaw funding round

$202M

Series D · Nov 2021

Cumulative funding Everlaw raised

$298M

across 5 funding rounds

Key investors in Everlaw

  • Andreessen Horowitz
  • K9 Ventures
  • Menlo Ventures
  • CapitalG
  • TPG
  • Ulu Ventures

Everlaw Overview

About Everlaw

Everlaw is an Oakland-headquartered legal technology platform for e-discovery and investigations. It provides cloud-based tools for document review, search, analytics, and production used by law firms, corporations, and government agencies. Features include predictive coding, timeline visualization, and collaboration workspaces to accelerate casework from data ingestion to trial. Founded in 2010, Everlaw serves Am Law 100 firms and Fortune 500 companies with data centers compliant to SOC 2 and FedRAMP standards across the United States.


Founded

2010

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B & B2G

Revenue model

Subscription

Valuation

$2B (Nov 2021)

Everlaw Valuation

Everlaw is currently valued at $2B, based on its Series D in November 2021.

The $202M round was led by TPG, with participation from H.I.G. Growth Partners, Menlo Ventures, K9 Ventures, Andreessen Horowitz and CapitalG.

Everlaw valuation by funding round

Everlaw valuation by funding round
DateStageValuation
Nov 2021Series D$2B

Everlaw Funding History

Everlaw has raised a total of $298M across 5 funding rounds.

Everlaw's first fundraising round was a $900K seed round in January 2013. The most recent completed round was a $202M Series D in November 2021.

Everlaw funding rounds

Everlaw funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series DTPG (lead); H.I.G. Growth Partners; Menlo Ventures; K9 Ventures; Andreessen Horowitz; CapitalG$202M$2BEverlaw is a cloud-native investigation and litigation platform that revolutionizes eDiscovery, internal investigations, and case preparation for law firms, government agencies, and corporate legal departments using AI-powered tools for document review, audio transcription, and multilingual text detection. The platform supports collaboration from anywhere, handles digital documents, databases, audio, video, and social media, and has achieved FedRAMP moderate certification on AWS GovCloud. It is used by 91 of the Am Law 200 firms and attorneys general in all 50 U.S. states, with total cases more than doubling since the March 2020 Series C and case volumes with Am Law 100 firms growing over 4x. On November 2, 2021, Everlaw announced a $202 million Series D funding round led by TPG Growth, with participation from H.I.G. Growth Partners and existing investors CapitalG, Menlo Ventures, Andreessen Horowitz, and K9 Ventures, bringing the post-money valuation to over $2 billion. TPG partner Mike Zappert joined the board. The round followed a year of 80% year-over-year growth and built on prior raises including a $62 million Series C in March 2020 led/co-led by Menlo Ventures. Funds are earmarked for global growth, go-to-market efforts, channel partnerships, product innovation, and supporting customers amid rapid digital transformation in the legal industry accelerated by recent years. Everlaw positions itself as a market leader with over 220 five-star G2 ratings, ahead of competitors in modernizing eDiscovery and making legal processes faster, more accessible, and affordable. New customers include the Colorado State Attorney General and corporations like Lime, Snowflake, and Coca-Cola Europe, highlighting traction in both public and private sectors.
Mar 2020Series CCapitalG (lead); Menlo Ventures; K9 Ventures; Andreessen Horowitz$62M-Everlaw, a cloud-based eDiscovery and litigation platform, closed a $62 million Series C funding round on March 10, 2020, co-led by CapitalG (Alphabet's growth equity fund) and Menlo Ventures, with participation from Andreessen Horowitz and K9 Ventures. This brought the company's total funding to $96 million. CapitalG partner Jesse Wedler joined Everlaw's board. The platform uses modern data management, visualization, and machine learning to help legal teams review large volumes of evidence, processing up to 500,000 documents per hour—five times faster than the nearest cloud competitor—with its largest case reaching 68 million documents. Everlaw serves Fortune 100 corporate counsels like Hilton and Dick's Sporting Goods, 76 of the Am Law 100 law firms, all 50 U.S. state attorneys general, and global firms including Travers Smith, Orrick, Covington & Burling, and Greenberg Traurig. It also supports journalists, educators, and nonprofits, offering free access to the latter groups. The company achieved FedRAMP Moderate Authority to Operate with DOJ support, making it the first cloud-native eDiscovery provider with this certification, emphasizing security. Data stored and matters on the platform more than doubled year-over-year. At the time, Everlaw had over 200 employees and 300 customers, processing 3,000 cases. The eDiscovery market was projected to reach $17 billion by 2023. The funding aimed to accelerate growth and innovation. Subsequent rounds included a 2021 Series D of $202 million at over $2 billion valuation, where cases doubled since Series C and it served 91 of the Am Law 200.
Jun 2018Series BMenlo Ventures (lead); Andreessen Horowitz$25M-Everlaw, a cloud-based e-discovery and litigation platform based in Berkeley, California, raised $25 million in a Series B funding round on June 28, 2018, led by new investor Menlo Ventures with participation from existing investor Andreessen Horowitz, bringing total funding to over $34 million. The funds were intended to accelerate development of its collaborative litigation software, featuring fast document search, AI-powered analytics, and tools for multi-matter discovery, depositions, and case-building. Everlaw targets corporations, law firms, and government entities, serving 8 of the top 10 class-action law firms, corporate counsels, and all U.S. state attorneys general at the time. CEO AJ Shankar highlighted plans to invest further in artificial intelligence to enhance document prioritization and user behavior insights across cases. The platform enables efficient handling of large data volumes in legal discovery, reducing manual review time for paralegals. Menlo Ventures partner Tyler Sosin praised Everlaw's team for their product sensibilities and technical capabilities in addressing ediscovery challenges within the legal vertical SaaS market, which was seen as early-stage for cloud adoption. A Business Insider report noted Everlaw had doubled revenue year-over-year for the two years prior to the round and was used by attorneys general in all 50 states. Later rounds, such as the 2021 Series D of $202 million led by TPG Growth, reached over $2 billion valuation with 80% YoY growth.
Jan 2016Series AAndreessen Horowitz (lead); K9 Ventures$8M-Everlaw raised $8.1 million in a Series A funding round on January 14, 2016, led by Andreessen Horowitz with participation from K9 Ventures. The company, co-founded by CEO AJ Shankar and Jeff Friedman, provides a cloud-native platform for eDiscovery, litigation, investigations, search, data visualization, and AI-driven solutions for the legal industry. This round followed earlier investments including a pre-seed and seed round from K9 Ventures. The funding supports Everlaw's mission to build a unified litigation platform with advanced technology addressing complex problems in discovery to courtroom collaboration. Andreessen Horowitz partner Steven Sinofsky joined the board, bringing experience in software development. Everlaw's technology tackles challenges in distributed systems, databases, storage, machine learning, and human-computer interaction for legal professionals. Later rounds included a $202 million Series D in 2021 led by TPG Growth, valuing the company over $2 billion, with participation from CapitalG, Menlo Ventures, Andreessen Horowitz, K9 Ventures, and H.I.G. Growth Partners.
Jan 2013SeedUlu Ventures; K9 Ventures$900K--

Who has invested in Everlaw?

7 investors have backed Everlaw across its funding rounds, including Andreessen Horowitz, K9 Ventures, Menlo Ventures, CapitalG, TPG and Ulu Ventures.

Lead investors include TPG, CapitalG, Menlo Ventures and Andreessen Horowitz.


Everlaw Investors

Investors in Everlaw by funding rounds participated
InvestorHQRoundsRoleFirst check
K9 VenturesUnited StatesSan Francisco, CA4ParticipantJan 2013
Andreessen HorowitzUnited StatesSan Francisco, CA4LeadJan 2016
Menlo VenturesUnited StatesSan Francisco, CA3LeadJun 2018
CapitalGUnited StatesSan Francisco, CA2LeadMar 2020
H.I.G. Growth PartnersUnited StatesMiami, FL1ParticipantNov 2021

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Everlaw Competitors

Everlaw competitors include listed companies like Schrödinger and Privia Health, and private ones like eMed, NantHealth, ShiftKey and ConcertAI.

Public and private companies comparable to Everlaw
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
eMedUnited StatesMiami, FLPrivate--$2B-
NantHealthUnited StatesLos Angeles, CAPrivate$58M-$2B-
ShiftKeyUnited StatesDallas, TXPrivate--$2B-
ConcertAIUnited StatesUnited StatesPrivate$200M-$1.9B9.5x
SchrödingerUnited StatesUnited StatesPublicly listed$256M($96M)$2.3B7.9x
Privia HealthUnited StatesUnited StatesPublicly listed$2.1B$44M$2.6B0.9x

Everlaw Public Comps

Everlaw is still privately-owned, but its public comps include Qingdao Baheal Medical, Schrödinger, Tieto, Omnicell, Indegene, Privia Health, EverCommerce, U.S. Physical Therapy, PHC Holdings and LegalZoom.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Qingdao Baheal Medical$1.1B$139M1.9x1.9x15.1x16.8x
Schrödinger$256M($96M)7.6x7.9x(20.3x)(14.0x)
Tieto$2.1B$186M1.3x1.4x15.2x7.9x
Omnicell$1.2B$92M1.2x1.1x15.0x8.1x
Indegene$366M$68M3.7x3.3x19.9x18.2x
Privia Health$2.1B$44M1.0x0.9x50.2x15.3x
EverCommerce$589M$128M3.0x2.9x13.7x9.5x
U.S. Physical Therapy$781M$110M2.5x2.3x17.5x18.9x

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Common questions about Everlaw

When was Everlaw founded?Everlaw was founded in 2010.
Where is Everlaw headquartered?Everlaw is headquartered in San Francisco, CA, United States.
Is Everlaw publicly listed?No, Everlaw is a private, VC-backed company.
What is Everlaw's valuation?Everlaw was last valued at $2B in its Series D in November 2021.
How much funding has Everlaw raised?Everlaw has raised $298M across 5 funding rounds.
What was Everlaw's last funding round?Everlaw's last funding round was a $202M Series D in November 2021, led by TPG.
Who are Everlaw's investors?Everlaw's investors include K9 Ventures, Andreessen Horowitz, Menlo Ventures, CapitalG, H.I.G. Growth Partners, Ulu Ventures and TPG.
Which companies are comparable to Everlaw?Companies comparable to Everlaw include eMed, NantHealth, ShiftKey, ConcertAI, Schrödinger and Privia Health.

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