The Austin, Tex., based discovery company DISCO said today that it has completed its fourth-quarter financing, bringing total investment in the company to $235 million and valuing the company at $785 million.
“Over the past seven years, we’ve raised more than $200M and grown our company valuation from zero to $785M,” CEO Kiwi Camara wrote in a blog post this morning. “We believe our size and scale make us the strategic, long-term partner for legal departments and law firms seeking to embrace legaltech over the next five years.”
When it announced its $60 million raise in October, DISCO said that it aiming to go beyond discovery to become the kind of horizontal platform for enterprise legal that Salesforce built for sales.
In his blog post today, Camara said that DISCO in 2021 will add another 300 employees to the 300 it already has, more than doubling its sales, marketing, and customer-success teams around the world. It will also ramp up its investment in product, design, engineering and professional services, and invest further in developing artificial intelligence technology.
“Legaltech is booming now, and the industry’s real growth has only just begun,” Camara said in a statement. “Over the next five to 10 years, legaltech will emerge as the next high-growth category of enterprise software.”