In 2024, legal tech companies raised a record $4.98 billion, a 47% increase from the previous year, marking the highest investment levels since Law360 began tracking in 2021.
The substantial funding surge in legal technology can be attributed to growing investor interest, particularly in areas like artificial intelligence, though not all investments centered on AI platforms.
Legal practice management attracted the most investment in 2024, with $1.4 billion raised, significantly driven by Clio's remarkable $900 million capital raise.
Other sectors within legal tech also saw notable financial support, including information services, governance and compliance, and legal document software, collectively contributing to this funding milestone.
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