Steno Funding, Investors & Competitors
Steno has raised $166M across 8 funding rounds, most recently a $49M Series C in March 2026.
Last Steno funding round
$49M
Series C · Mar 2026
Cumulative funding Steno raised
$166M
across 8 funding rounds
Key investors in Steno
Human Ventures
First Round Capital
Karman Ventures
Alumni Ventures
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>)
Daniel CurranLeft Lane Capital
Cerity Partners Ventures
Trust Ventures
About Steno
Steno is a U.S.-based litigation support provider offering court reporting, real-time transcription, and video depositions with flexible deferred payment terms. Operating nationwide, it equips remote proceedings with secure streaming and AI-assisted rough drafts. Clients include top U.S. law firms handling complex cases in federal and state courts.
Founded
2018
HQ
Los Angeles, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services
Sectors
Steno Funding History
Steno has raised a total of $166M across 8 funding rounds.
Steno's first fundraising round was a $3M seed round in March 2020. The most recent completed round was a $49M Series C in March 2026.
Steno funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2026 | Series C | Savano Capital Partners (lead); First Round Capital; The LegalTech Fund | $49M | - |
| Dec 2024 | Undisclosed stage | Trinity Capital (lead) | $20M | Steno is a tech-enabled provider of legal support and court reporting services, offering tools to streamline litigation processes including court-reporting, remote deposition software, deferred payment options, and custom legal technology like Transcript Genius. Founded by a trial attorney, computer engineer, and entrepreneur, Steno aims to modernize the legal industry by simplifying and making litigation more efficient for attorneys. In May 2024, Steno completed a $46 million fundraise, of which Trinity Capital Inc. (NASDAQ: TRIN) provided $20 million in growth capital announced on December 5, 2024. This debt financing from Trinity, a provider of financial solutions to growth-stage companies, supports Steno's scaling efforts as the lead investor in this context. Steno CEO Greg Hong highlighted the partnership to fuel innovation and growth. Trinity's Managing Director Bob D'Acquisto praised Steno's product suite and expansion potential. |
| May 2024 | Undisclosed stage | - | $46M | Steno, a Los Angeles-based tech-enabled provider of legal support and court reporting services founded in 2018 by Greg Hong, Dylan Ruga, and Dan Anderson, announced on May 14, 2024, the closing of $46 million in additional funding alongside the launch of Transcript Genius, a generative AI tool for transcript analysis. This tool enables attorneys to interact dynamically with transcripts, uncovering key facts, inconsistencies, and insights to streamline case preparation and enhance efficiency. The proceeds from the $46M raise are earmarked to enhance Transcript Genius through expanded research and development, aiming to broaden its capabilities in legal workflows. Steno positions itself as a partner overcoming technological and financial barriers in litigation, offering innovative tools like AI-powered transcript review that reduce hours of manual analysis to minutes. The company operates in the legal tech category, focusing on court reporting, remote litigation platforms, and deferred payment options via products like Steno Connect and DelayPay. Steno's funding history includes prior rounds such as a $3.5M seed led by First Round Capital in 2020, a $15M Series B led by Left Lane Capital, and a $20M debt facility from Rivonia Road Capital with equity investment. The May 2024 $46M appears as additional capital, potentially combining equity and debt, supporting rapid growth from 9 to 200 employees and leadership expansions like appointing a new COO. |
| May 2023 | Series B | Left Lane Capital (lead); Clio Ventures; Le Lane Capital; Cerity Partners Ventures; Karman Ventures | $15M | Steno is a tech-enabled provider of legal support services, including court reporting, video conferencing, e-filing, service of process, and deferred-payment financing via its DelayPay product. Founded in 2018 by Dan Anderson, Dylan Ruga, and Greg Hong, the company targets the $17 billion litigation support market by offering reliable services underpinned by technology and financing to help law firms manage cash flow and operate efficiently. On May 23, 2023, Steno closed a $15 million Series B funding round led by Left Lane Capital, with participation from Clio Ventures, Cerity Partners Ventures, Karman Ventures, Le Lane Capital, and others, bringing total funding to $38.5 million. The round included a strategic investment from Clio Ventures, the investment arm of the legal technology platform Clio, which serves 150,000 legal professionals; the companies plan to launch an integration for real-time case activity access. Steno has demonstrated strong product-market fit, more than doubling market share year over year through its online legal services marketplace and DelayPay, enabling law firms to handle greater volume with efficiency. The funding will support national expansion into new markets, development of adjacent service channels, and growth of its tech team to further innovate in litigation support. |
| Dec 2022 | Undisclosed stage | - | $19M | Steno is a Los Angeles-based legal tech company founded in 2018 that provides court reporting and litigation services, combining technology with deferred payment options to improve the experience for law firms. Steno serves clients such as Panish | Shea | Boyle, Simon Law Group, and Stalwart Law Group, with leadership including Co-Founder & CEO Greg Hong, formerly of Reserve. The company has raised a total of $45.5 million across multiple rounds from investors including First Round Capital, Human Ventures, Touchdown Ventures, Trust Ventures, and Amplo VC. Known press mentions include a $15M Series B in May 2023 and a $3.5M round in August 2020 led by First Round Capital. |
| Sep 2021 | Series A | Trust Ventures (lead); Human Ventures | $10M | - |
| Aug 2020 | Seed | First Round Capital (lead); Human Ventures; Karman Ventures | $4M | Steno is a Los Angeles-based legaltech startup providing court reporting, videography, and litigation support services for both live and remote depositions. It offers DisbursePay, a non-recourse deferred payment option allowing attorneys to hire reporters and videographers without upfront costs, paid upon case recovery. The company also provides video conferencing technology tailored for litigation with exhibit handling. On August 28, 2020, Steno raised a $3.5 million seed round led by First Round Capital, with participation from Human Ventures and Karman Ventures, bringing total funding to $5 million including a prior $1.5 million raise. The investors included First Round Capital as the lead. The funding supported nationwide expansion beyond California and Nevada, enhancing remote deposition capabilities amid the pandemic. Steno served law firms like JML Law, Simon Law Group, Panish | Shea | Boyle, and Stalwart Law Group, focusing on personal injury cases. At 19 months old, it had 20 full-time and 10 part-time employees, charging per-transaction with somewhat recurring revenue from ongoing cases, and considered subscription models. |
| Mar 2020 | Seed | Daniel Curran; Alumni Ventures; Human Ventures | $3M | - |
Who has invested in Steno?
13 investors have backed Steno across its funding rounds, including Human Ventures, First Round Capital, Karman Ventures, Alumni Ventures, Daniel Curran and Left Lane Capital.
Lead investors include Savano Capital Partners, Trinity Capital, Left Lane Capital, Trust Ventures and First Round Capital.
Steno Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| New York City, NY | 3 | Participant | Mar 2020 | |
| Philadelphia, PA | 2 | Lead | Aug 2020 | |
| Austin, TX | 2 | Participant | Aug 2020 | |
| Daniel Curran | Los Angeles, CA | 1 | Participant | Mar 2020 |
| Austin, TX | 1 | Lead | Sep 2021 | |
| Miami, FL | 1 | Participant | Mar 2026 | |
| Phoenix, AZ | 1 | Lead | Dec 2024 | |
 Vancouver | 1 | Participant | May 2023 | |
| Le Lane Capital | New York City, NY | 1 | Participant | May 2023 |
| New York City, NY | 1 | Lead | May 2023 | |
| United States | 1 | Participant | Mar 2020 | |
This data is available for Pro users. Sign up to see all 13 Steno investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialSteno Competitors
Steno competitors include listed companies like Thomson Reuters and Andersen Group, and private ones like Trellis Research, Legal.io, Clio and Ironclad.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Los Angeles, CA | Private | - | - | $90M | - | |
| San Francisco, CA | Private | $24M | - | $52M | 2.2x | |
| Canada | Publicly listed | $7.5B | $3B | $43B | 5.8x | |
| United States | Publicly listed | $839M | ($121M) | $6.2B | 7.6x | |
| Vancouver | Private | $400M | - | $5B | 12.5x | |
| San Francisco, CA | Private | $200M | - | $3.2B | 16.0x |
Steno Public Comps
Steno is still privately-owned, but its public comps include Thomson Reuters, Andersen Group, LegalZoom, Bengo4.com, IPH, Keystone Law Group, Knights Group Holdings, Gateley, Shine Justice and Talenom.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $7.5B | $3B | 6.1x | 5.8x | 15.3x | 14.5x | |||
| $839M | ($121M) | 8.6x | 7.6x | (59.9x) | 29.7x | |||
| $756M | $74M | 1.2x | 1.1x | 12.1x | 4.8x | |||
| $105M | $19M | 7.7x | 6.9x | 43.8x | 33.0x | |||
| $505M | $140M | 1.7x | 1.7x | 6.1x | 5.9x | |||
| $155M | $17M | 1.8x | 1.6x | 16.1x | 13.3x | |||
| $279M | $33M | 1.2x | 1.2x | 10.3x | 4.9x | |||
| $261M | $21M | 0.7x | 0.7x | 8.7x | 4.8x | |||
This data is available for Pro users. Sign up to see all Steno competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Steno
| When was Steno founded? | Steno was founded in 2018. |
| Where is Steno headquartered? | Steno is headquartered in Los Angeles, CA, United States. |
| Is Steno publicly listed? | No, Steno is a private, VC-backed company. |
| How much funding has Steno raised? | Steno has raised $166M across 8 funding rounds. |
| What was Steno's last funding round? | Steno's last funding round was a $49M Series C in March 2026, led by Savano Capital Partners. |
| Who are Steno's investors? | Steno's investors include Human Ventures, First Round Capital, Karman Ventures, Daniel Curran, Trust Ventures, The LegalTech Fund, Trinity Capital, Clio Ventures, Le Lane Capital, Left Lane Capital and 3 others. |
| Which companies are comparable to Steno? | Companies comparable to Steno include Trellis Research, Legal.io, Thomson Reuters, Andersen Group, Clio and Ironclad. |
See companies similar to Steno
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.